Global Biosimilar Market Expected to Grow at 24.1% During 2025-2033

November 21, 2024 | Healthcare

According to the recent report by IMARC Group, entitled “Biosimilar Market Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others), Indication (Auto-Immune Diseases, Blood Disorders, Diabetes, Oncology, Growth Deficiency, Female Infertility, and Others), Manufacturing Type (In-house Manufacturing, Contract Manufacturing), and Region 2025-2033”, the global biosimilar market size reached USD 26.5 Billion in 2024. Biosimilars, also known as subsequent entry biologics (SEBs) or follow-on biologics, refer to FDA-approved biotherapeutic products which are similar to their reference biologics. Biosimilars can only be manufactured after the patent of the reference product expires. The demand for biosimilars has been increasing in recent years as they help in reducing the overall cost of the treatment for a variety of chronic diseases including cancers, autoimmune diseases, kidney failure, diabetes, CVDs, haematological disorders, infectious diseases, rheumatoid arthritis, growth hormone deficiency, etc.

Global Biosimilar Market Drivers:

Recent patent expiries of a large number of blockbuster biological drugs such as Humira, Remicade, MabThera, Enbrel, etc. have majorly boosted the growth of the biosimilar market. Another major growth-inducing factor is ageing population which has led to a rise in the prevalence of non-communicable diseases. Further, high costs of innovator biologics, especially monoclonal antibodies (mAbs), have encouraged several governments across the globe to promote the usage of biosimilars. For instance, European countries like the Netherlands, Denmark and Germany have established strategic models for discount pricing and introduced numerous incentive programs. Apart from this, biosimilars do not require extensive marketing as the safety and efficacy profile of biologics has already been established. This has resulted into the low cost of these drugs in comparison to their branded counterparts, in turn, spurring their demand worldwide. Due to the abovementioned factors, the market is projected to expand at a CAGR of 24.1% during 2025-2033, registering a value of USD 185.1 Billion by 2033.

Global Biosimilar Market Summary:

Based on molecule, the market has been bifurcated into Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others.
On the basis of type of manufacturing, the market has been bifurcated into in-house and contract manufacturing. Currently, in-house manufacturing holds around three-fourth of the total share, representing the dominant segment. This method enables the manufacturers to monitor every step of the biosimilars’ production process and eliminates both shipping and delivery costs.
The market has also been segregated on the basis of indication as autoimmune diseases, oncology, diabetes, blood disorder, growth deficiency, female infertility and others.
Region-wise, the report covers Europe (Germany, France, Italy, Spain, the United Kingdom and Rest of Europe), the United States, Japan, India, South Korea and others.
On examining the competitive landscape of the market, it has been found that the biosimilars industry is concentrated in nature. Some of the key players operative in the market are Sandoz International GmbH, Pfizer Inc., Teva Pharmaceutical Industries Limited, Celltrion Inc., Biocon Limited, Samsung Biologics, Amgen, Inc., Dr. Reddy's Laboratories Limited and Stada Arzneimittel Ag.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Molecule, Indication, Manufacturing Type, Region
Region Covered	Europe (Germany, France, Italy, Spain, United Kingdom, Rest of Europe), United States, Japan, India, South Korea and Others
Companies Covered	Sandoz International GmbH, Pfizer Inc., Teva Pharmaceutical Industries Limited, Celltrion Inc., Biocon Limited, Samsung Biologics, Amgen, Inc., Dr. Reddy's Laboratories Limited and Stada Arzneimittel Ag
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Biosimilar Market Expected to Grow at 24.1% During 2025-2033

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