Biosimilars Market Poised for Significant Growth

The global biosimilars market is experiencing remarkable expansion, driven by the increasing demand for cost-effective biologic therapies and the rising prevalence of chronic diseases. Valued at approximately USD 21 Bn billion in 2022, the market is projected to reach USD 66.9 billion by 2029, exhibiting a robust Compound Annual Growth Rate (CAGR) of 16.72% during the forecast period.

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Biosimilars Market Drivers and Trends

The surge in chronic diseases such as cancer, diabetes, and autoimmune disorders has heightened the need for affordable therapeutic options. Biosimilars, being cost-effective alternatives to original biologic drugs, offer significant savings for healthcare systems and patients. Additionally, the expiration of patents for several blockbuster biologics has opened avenues for biosimilar manufacturers, further propelling market growth.

Biosimilars Market Competitive Landscape

The biosimilars market is characterized by the presence of several key players striving to innovate and expand their offerings. Prominent companies in the biosimilars market include Pfizer Inc., Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche Ltd., Celltrion Healthcare Co., Ltd., and Apotex Inc.

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Regional Insights

United States: Growth and Consolidation

The United States is witnessing significant growth in the biosimilars market, driven by the increasing acceptance of biosimilars among healthcare providers and patients. In January 2025, AbbVie projected higher-than-expected profits, attributing the growth to robust sales of its newer immunology drugs, Skyrizi and Rinvoq, which are compensating for a decline in sales of Humira due to biosimilar competition.

Asia Pacific: Opportunities and Expansion

The Asia Pacific region is emerging as a lucrative market for biosimilars, attributed to the increasing prevalence of chronic diseases and the adoption of advanced healthcare technologies. In 2024, CuraTeQ Biologics' Hyderabad facility earned EMA GMP certification, ensuring global-quality production and signaling the region's growing prominence in the biosimilars market.

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Europe: Trends and Developments

Europe has been at the forefront of biosimilar adoption, with a well-established regulatory framework encouraging market growth. The European biosimilars market was valued at USD 10.31 billion in 2022 and is likely to dominate the market throughout the forecast period.

Middle East and Africa: Emerging Trends

The Middle East and Africa region is gradually embracing biosimilars to enhance healthcare affordability and accessibility. While specific mergers and acquisitions in this region are limited, global players are exploring opportunities to expand their footprint, anticipating future growth in biosimilar adoption.

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Biosimilars Market Segmentation Analysis

by Type

Human growth hormone
Erythropoietin
Monoclonal antibodies
Insulin
Granulocyte-colony stimulating factor
Others

by Application

Oncology
Inflammatory
Autoimmune diseases
Chronic diseases
Blood disorders
Growth hormone deficiency
Infectious diseases
Other

by Technology

Recombinant DNA Technology
Monoclonal Antibodies (MAb) Technology

by End User

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Conclusion

The biosimilars market is poised for substantial growth globally, driven by the escalating demand for affordable biologic therapies and the expiration of patents for major biologics. Strategic developments across regions highlight the industry's commitment to innovation and expansion, ensuring the availability of cost-effective therapeutic options for patients worldwide.

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