Biosimilars Market: By Drug Class (Monoclonal Antibodies, Recombinant Hormones, Recombinant Growth Factors, Immunomodulators, Anti-Inflammatory Agents, and Others), By Application (Oncology, Blood Disorders, Autoimmune Diseases, Growth Hormone Deficiency, Infectious Diseases, Diabetes, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Geography

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Biosimilars Market size was valued at USD 14.9 billion in 2022, and is expected to be USD 45.4 billion by 2029 and is poised to grow at a CAGR of 24.6% from 2023 to 2029. The rising frequency of chronic diseases, as well as increased demand for biosimilars due to their cost-effectiveness, are driving market expansion. Regulatory approvals and other rules in various countries that encourage the use of biosimilars are also a major driving force in the biosimilars industry. However, during the projection period, the challenges of biosimilar development and production, as well as pushback from reference biologic manufacturers, are projected to limit the market's expansion. A factor that contributes to these high costs is a lack of economies of scale due to lesser demand. Furthermore, the absence of regulatory guidelines, consumer brand preferences, physician reluctance to prescribe biosimilars, and the high capital necessary for research and development are all impeding the growth of the biosimilars industry. Because of the advantageous government rules in this region, countries from the European Union currently dominate the market.

The biosimilars market in North America is now hampered by weak and flexible rules. However, given to the shifting off-patent environment, biosimilars applications in autoimmune and chronic diseases have the most potential. The biopharmaceutical business is heavily reliant on modern technologies for various development and manufacturing processes. These technologies have become a requirement for all biopharmaceutical and healthcare research operations. Monoclonal Antibodies (MAb) Technology, Recombinant DNA Technology (rDNA Technology), Nuclear Magnetic Resonance (NMR) Technology, Chromatography, Electrophoresis, Mass Spectrometry, Western Blotting, and Bioassay are only a few of the important technologies addressed in the paper.

Global Biosimilars Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

24.6%

Largest Market

Europe

Fastest Growing Market

Asia Pacific

Biosimilars Market Dynamics

biosimilars market is gaining traction in recent times owing to its cost-effective pricing in comparison with patented or branded biologics, which are generally priced higher than biologics. The adoption of cost-effective biosimilars is rising in different healthcare setups across the developed and developing countries to curtail the growing pressure on healthcare budgets. The introduction of biosimilars has even led to improved access to the premium-priced biopharmaceuticals in developing and underdeveloped markets with lesser costs. Moreover, favourable government policies to promote cost-effective biosimilars expected to drive market revenue growth over the forecast period.

Europe got significant share

Biosimilars Market Regional Analysis

Europe market expected to hold the higher revenue share in global market owing to healthcare practitioners shift to low priced drugs, and wider treatment choices available in the region. Asia-pacific biosimilars market projected to grow at highest CAGR over the forecast period in comparison with other regions owing to large out-of-pocket healthcare expenditure and large medical unmet need due to lack of patented product availability.

Latin America

Europe

Asia Pacific

Middle East

North America

Global Biosimilars Market Segmentation

By Drug Class

Monoclonal Antibodies
Recombinant Hormones
Recombinant Growth Factors
Immunomodulators
Anti-Inflammatory Agents
Others

By Application

Oncology
Blood Disorders
Autoimmune Diseases
Growth Hormone Deficiency
Infectious Diseases
Diabetes
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Frequently Asked Questions

The biosimilars market size was valued USD 14.9 billion in 2022

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

Key Features of the Report

The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments, and start-up details that are actively working in the market
The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Executive Summary
Global Biosimilar Market Introduction
- 2.1. Global Biosimilar Market Taxonomy
- 2.2. Global Biosimilar Market Definitions
  - 2.2.1. Drug Class
  - 2.2.2. Application
  - 2.2.3. Distribution Channel
  - 2.2.4. By Region
Global Biosimilar Market Dynamics
- 3.1. Drivers
- 3.2. Restraints
- 3.3. Opportunities/Unmet Needs of the Market
- 3.4. Trends
- 3.5. Product Landscape
- 3.6. New Product Launches
- 3.7. Impact of COVID-19 on the Market
- 3.8. Unique Selling Proposition (USP)
- 3.9. Macro Trends
Global Biosimilar Market Analysis, 2018-2022 and Forecast 2023-2029
- 4.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- 4.3. Market Opportunity Analysis
Global Biosimilar Market By Drug Class, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 5.1. Monoclonal Antibodies
  - 5.1.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.1.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.1.3. Market Opportunity Analysis
- 5.2. Recombinant Hormones
  - 5.2.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.2.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.2.3. Market Opportunity Analysis
- 5.3. Recombinant Growth Factors
  - 5.3.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.3.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.3.3. Market Opportunity Analysis
- 5.4. Immunomodulators
  - 5.4.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.4.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.4.3. Market Opportunity Analysis
- 5.5. Anti-Inflammatory Agents
  - 5.5.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.5.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.5.3. Market Opportunity Analysis
- 5.6. Others
  - 5.6.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 5.6.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 5.6.3. Market Opportunity Analysis
Global Biosimilar Market By Distribution Channel Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 6.1. Hospital Pharmacies
  - 6.1.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 6.1.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 6.1.3. Market Opportunity Analysis
- 6.2. Retail Pharmacies
  - 6.2.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 6.2.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 6.2.3. Market Opportunity Analysis
- 6.3. Online Pharmacies
  - 6.3.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 6.3.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 6.3.3. Market Opportunity Analysis
Global Biosimilar Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 7.1. Oncology
  - 7.1.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.1.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.1.3. Market Opportunity Analysis
- 7.2. Blood Disorders
  - 7.2.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.2.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.2.3. Market Opportunity Analysis
- 7.3. Autoimmune Diseases
  - 7.3.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.3.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.3.3. Market Opportunity Analysis
- 7.4. Endocrine Diseases
  - 7.4.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.4.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.4.3. Market Opportunity Analysis
- 7.5. Infectious Diseases
  - 7.5.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.5.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.5.3. Market Opportunity Analysis
- 7.6. Diabetes
  - 7.6.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.6.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.6.3. Market Opportunity Analysis
- 7.7. Others
  - 7.7.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 7.7.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 7.7.3. Market Opportunity Analysis
Global Biosimilar Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 8.1. North America
  - 8.1.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 8.1.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 8.1.3. Market Opportunity Analysis
- 8.2. Europe
  - 8.2.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 8.2.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 8.2.3. Market Opportunity Analysis
- 8.3. Asia Pacific (APAC)
  - 8.3.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 8.3.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 8.3.3. Market Opportunity Analysis
- 8.4. Latin America
  - 8.4.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 8.4.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 8.4.3. Market Opportunity Analysis
- 8.5. Middle East and Africa (MEA)
  - 8.5.1. Market Analysis, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
  - 8.5.2. Y-o-Y Growth Analysis (%) and Market Share Analysis (%)
  - 8.5.3. Market Opportunity Analysis
Global Biosimilar Market - Opportunity Analysis Index, By Manufacturing Type, Drug Class, Application, and Region, 2023-2029
North America Biosimilar Market, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 10.1. Drug Class Analysis
- 10.2. Manufacturing Type Analysis
- 10.3. Application Analysis
- 10.4. Country Analysis
  - 10.4.1. United States of America (USA)
  - 10.4.2. Canada
Europe Biosimilar Market, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 11.1. Drug Class Analysis
- 11.2. Manufacturing Type Analysis
- 11.3. Application Analysis
- 11.4. Country Analysis
  - 11.4.1. Germany
  - 11.4.2. France
  - 11.4.3. Italy
  - 11.4.4. United Kingdom (UK)
  - 11.4.5. Spain
  - 11.4.6. Rest of EU
Asia Pacific (APAC) Biosimilar Market, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 12.1. Drug Class Analysis
- 12.2. Manufacturing Type Analysis
- 12.3. Application Analysis
- 12.4. Country Analysis
  - 12.4.1. China
  - 12.4.2. India
  - 12.4.3. Australia and New Zealand (ANZ)
  - 12.4.4. Japan
  - 12.4.5. Rest of APAC
Latin America Biosimilar Market, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 13.1. Drug Class Analysis
- 13.2. Manufacturing Type Analysis
- 13.3. Application Analysis
- 13.4. Country Analysis
  - 13.4.1. Brazil
  - 13.4.2. Mexico
  - 13.4.3. Rest of LA
Middle East and Africa (MEA) Biosimilar Market, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
- 14.1. Drug Class Analysis
- 14.2. Manufacturing Type Analysis
- 14.3. Application Analysis
- 14.4. Country Analysis
  - 14.4.1. GCC Countries
  - 14.4.2. South Africa
  - 14.4.3. Rest of MEA
Competition Landscape
- 15.1. Strategic Dashboard of Top Market Players
- 15.2. Company Profiles
  - 15.2.1. Amgen Inc. (U.S.)
  - 15.2.2. Biocon Ltd. (India)
  - 15.2.3. Celltrion, Inc. (South Korea)
  - 15.2.4. Dr. Reddy’s Laboratories Ltd. (India)
  - 15.2.5. F. Hoffmann-La Roche Ltd. (Switzerland)
  - 15.2.6. Pfizer Inc. (U.S.)
  - 15.2.7. Samsung Bioepis (South Korea)
  - 15.2.8. Sandoz International GmbH (Switzerland)
  - 15.2.9. Teva Pharmaceuticals Industries Ltd. (Israel)
Research Methodology
Key Assumptions and Acronyms

Amgen Inc. (U.S.)
Biocon Ltd. (India)
Celltrion, Inc. (South Korea)
Dr. Reddys Laboratories Ltd. (India)
F. Hoffmann-La Roche Ltd. (Switzerland)
Pfizer Inc. (U.S.)
Samsung Bioepis (South Korea)
Novatis AG (Switzerland)
Teva Pharmaceuticals Industries Ltd. (Israel)

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