Market Overview:
Global Biosimilars Market Size Was Valued at USD 36 Billion in 2022, and is Projected to Reach USD 102.69 Billion by 2030, Growing at a CAGR of 14% From 2023-2030.
A biosimilar is a type of biological medicinal product, also known as a follow-on biologic or a coming entry biologic. It is a copy of an original product that is produced by a different company. Biosimilars are authorized versions of original and innovative products, and they are manufactured only after the patent for the original product expires. They are also referred to as bio-pharmaceuticals or follow-on biologics. Biosimilars differ from generics in the entire production process, including the raw materials used. They are highly similar to the reference biological products but not identical. Biosimilars are not considered generics by key players and suppliers in the industry. They are typically derived from plants, animals, bacteria, yeast, and viruses, and they are manufactured using controlled gene expression and recombinant DNA technology.
Top Key Players Covered In The Biosimilars Market:
- Novartis AG (Switzerland)
- Pfizer Inc. (US)
- Dr. Reddy’s Laboratories Ltd. (India)
- Amgen Inc. (US)
- Eli Lilly and Company (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Fresenius SE & Co. KGaA (Germany)
- STADA Arzneimittel AG (Germany)
- Boehringer Ingelheim (Germany)
- Gedeon Richter PLC (Hungary)
- Celltrion (South Korea)
- Samsung Biologics (South Korea)
- Coherus BioSciences (US)
- Biocon Limited (India)
- Viatris Inc. (US)
- Amega Biotech (Argentina)
- Biocad (Russia)
- Ambiente (Spain)
- Probiomed S.A. De C.V. (Mexico)
- Intas Pharmaceuticals Ltd. (India)
- Thermex (UK)
- Reliance Life Sciences (India)
- Kashiv Biosciences (US) and Other Major Players.
Market Dynamics and Factors:
The rising demand for the treatment of chronic diseases is a major driver of the biosimilars market. As the prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders continues to increase, there is a growing need for effective and affordable treatment options. Biosimilars offer a cost-effective alternative to the original biologic products, providing similar therapeutic benefits at a lower price. This makes them particularly attractive for patients, healthcare providers, and payers looking to reduce healthcare costs without compromising on quality of care. Biosimilars can help improve access to life-saving medications for a larger population, especially in developing countries where the cost of original biologics can be prohibitive.
The biosimilars market presents promising growth opportunities due to technological development and the acquisition of new patents. The advancement of technology has facilitated the manufacturing and production processes of biosimilars, allowing for more efficient and cost-effective production methods. This, in turn, has led to increased accessibility and affordability of biosimilars in the market. Furthermore, the acquisition of new patents in the field of biosimilars provides companies with exclusive rights to develop and commercialize innovative products. These patents offer a competitive advantage by protecting intellectual property and granting market exclusivity for a certain period of time.
The Biosimilars Market Report Highlight:
- By Type, the Recombinant Non-Glycosylated Proteins segment is expected to dominate the market, Recombinant non-glycosylated proteins refer to a class of biosimilars that are produced using recombinant DNA technology and do not contain glycosylation, which is the attachment of sugar molecules to the protein structure.
- By Application, the Oncology segment is anticipated to dominate the market. The prevalence of cancer is increasing globally, and there is a growing demand for cost-effective treatment options.
- North American region is expected to dominate the biosimilars market, the United States has a well-established regulatory framework for biosimilars, with the introduction of the Biologics Price Competition and Innovation Act (BPCIA)
Key Industry Developments in the Global Biosimilars Market:
In May 2023, Boehringer Ingelheim received U.S. FDA clearance for Cyltezo Pen, a novel autoinjector choice for Cyltezo (adalimumab-adbm), an FDA-approved interchangeable biosimilar to Humira.
In June 2022, Biogen Inc. partnered with Samsung Bioepis Co., Ltd. to introduce BYOOVIZ (ranibizumab-nuna), a biosimilar of LUCENTIS (ranibizumab) in the U.S
Biosimilars Market Segmentation:
By Type
- Recombinant Non-Glycosylated Proteins
- Interferons
- Insulin
- Human Growth Hormones
- Granulocyte Colony-Stimulating Factor
- Other
By Application
- Blood Disorders
- Growth Hormonal Deficiency
- Chronic and Autoimmune Disorders
- Oncology
- Other
For this report, Introspective Market Research has segmented the Biosimilars Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
