India Biosimilars Market: By Type (Monoclonal Antibodies, Recombinant Growth Factors, Recombinant Hormones, Anti-Inflammatory Agents, Immunomodulators, Others), By Application (Oncology, Blood Disorders, Auto-Immune Diseases, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others) and By Country

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India Biosimilars Market size was valued at USD 6,734.9 Million in 2022 and is anticipated to grow at a CAGR of 27.6% over 2023-2029. Biosimilars are similar to the already approved reference product in non-clinical, clinical and quality evaluation. Biosimilars are not treated as generic drugs alternatively referred to as follow-on biologics or biopharmaceuticals. These are generally derived from yeast, bacteria, animals, plants, and other biological organisms. Biosimilars are produced mainly by controlled gene expression or recombinant DNA technology. The escalating prevalence of chronic diseases like diabetes, cancer, and autoimmune disorders in India plays a pivotal role in propelling the revenues of the country's biosimilar market.

According to the World Health Organization, nearly 63% of total deaths in India are due to noncommunicable diseases, of which 27% are attributed to cardiovascular disease which affects 45% of people in the 40-69 age group and 77 million people above the age of 18 years are suffering from type 2 diabetes. Biosimilars, offering comparable therapeutic outcomes to original biologics at lower costs, emerge as a crucial solution. These affordable alternatives enhance patient access to vital treatments, foster improved adherence to therapy regimens, and alleviate the economic burden on both patients and healthcare systems. As the market caters to the growing requirement for effective and accessible chronic disease management, biosimilars secure a prominent position, driving market growth and revenue streams. Moreover, growing healthcare demand further accelerates the growth of the biosimilar market. India's large and diverse population creates a substantial demand for healthcare services and treatments.

Biosimilars offer a cost-effective solution to address the healthcare needs of a vast patient base, making them an attractive option for both patients and healthcare providers. However, developing biosimilars involves extensive analytical and clinical testing to demonstrate similarity to the reference product. This can lead to longer development timelines and higher costs, potentially limiting the demand for biosimilars. Meanwhile, the Indian government's supportive initiatives to promote the pharmaceutical industry, including biosimilars, have created significant opportunities for the biosimilar market's growth in India. Pharmaceutical companies are always engaged in research and development efforts aimed at producing biopharmaceuticals. For instance, in July 2023, Biocon Biologics launched Hulio, a biosimilar for AbbVie's Humira in the USA.

India Biosimilars Market Key Developments:   
  • In June 2023, Alkem Laboratories launched world’s first biosimilar of Cetuximab, Cetuxa, used for the treatment of head and neck cancer.
  • In February 2023, Alkem subsidiary Enzene launched adalimumab biosimilar in India, which is used for treating autoimmune diseases like rheumatoid arthritis and ankylosis spondylitis.
  • In March 2023, Sandoz was granted FDA approval for a citrate-free, high-concentration formulation of its biosimilar Hyrimoz (adalimumab-adaz) injection.

India Biosimilars Market Dynamics

Indian biosimilars market is poised to huge growth rate owing to the increase in acceptance of the biosimilars and the rise in R&D activities by the life science industries in developing the biosimilars in the market. For instance, Novartis AG has entered into collaboration with Indian biopharmaceutical company, Biocon in development and commercial multiple biosimilars in oncology and immunology. In addition, new product launches and entry of completely new market players such as Aurobind Pharma into biosimilars projected to boost the market growth over the forecast period. However, the substantial opportunity for biosimilars market is challenged by the regulatory hurdles and huge cost of development and clinical trials in different regions. This may hamper the growth of market over the forecast period.

Key Features of the Reports

  • 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

India Biosimilars Market Segmentation

By Type
  • Monoclonal Antibodies
  • Recombinant Growth Factors
  • Recombinant Hormones
  • Anti-Inflammatory Agents
  • Immunomodulators
  • Others
By Application
  • Oncology
  • Blood Disorders
  • Auto-Immune Diseases
  • Others
By Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

Frequently Asked Questions

The India Biosimilars Market Size was valued at USD 6,734.9 million in 2022

India Biosimilars Market Key Players are: Amgen, Biogen, Catalent, Cipla Limited, Pfizer, Glenmark Pharmaceuticals, Shanghai Henlius Biotech, Novartis

As of August 2023, two biosimilars were approved in India by the US FDA namely Tyruko by SANDOZ, INC and Yuflyma by Celltrion.

Strategic alliances among the manufacturers for the development of biosimilars is a major trend in the India biosimilars market.

Rising government initiatives and support, increase in incidence of chronic diseases, and increasing research and development activities are some of the key opportunities for companies to enhance their revenue over the forecast years.

1.Executive Summary
2.Global India Biosimilars Market Introduction 
2.1.Global India Biosimilars Market  - Taxonomy
2.2.Global India Biosimilars Market  - Definitions
2.2.1.Type 
2.2.2.Application
2.2.3.Distribution Channel
3.Global India Biosimilars 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 Market
4.Global India Biosimilars Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global India Biosimilars Market  By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Monoclonal Antibodies
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Recombinant Growth Factors
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Recombinant Hormones
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Anti-Inflammatory Agents
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Immunomodulators
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
5.6. Others
5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.6.3. Market Opportunity Analysis 
6.Global India Biosimilars Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Oncology
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Blood Disorders
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Auto-Immune Diseases
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Others
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global India Biosimilars Market  By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Hospital Pharmacies
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Retail Pharmacies
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Others
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
8. Competition Landscape
8.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
8.2.1.Wockhardt Ltd. (India)
8.2.2.Reliance Life Sciences (India)
8.2.3.Intas Pharmaceuticals Limited (India)
8.2.4.Reddy's Laboratories (India)
8.2.5.Torrent Pharmaceuticals Ltd. (India)
8.2.6.Cipla Limited (India)
8.2.7.Glenmark Pharmaceuticals (India)
9. Research Methodology 
10. Appendix and Abbreviations 
  • Wockhardt Ltd. (India)
  • Reliance Life Sciences (India)
  • Intas Pharmaceuticals Limited (India)
  • Reddy's Laboratories (India)
  • Torrent Pharmaceuticals Ltd. (India)
  • Cipla Limited (India)
  • Glenmark Pharmaceuticals (India)

Adjacent Markets