United States Biosimilar Market

Market Overview:

The United States biosimilar market size is projected to exhibit a growth rate (CAGR) of 19.3% during 2024-2032. The increasing need for cost-effective treatments due to rising healthcare costs, the escalating number of collaborations and partnerships between companies, and investment in education and clear communication strategies around biosimilars are some of the key factors driving the market.

A biosimilar refers to a biological product that closely resembles a biologic medication that has previously received regulatory approval. It is designed to have the same efficacy, safety, and quality as the original, or "reference," biologic drug. It is used to treat a wide range of diseases and conditions including cancer, diabetes, and autoimmune disorders. Though similar to the reference product, biosimilars are not considered generic versions, as their complex nature requires careful development and manufacturing processes. Regulatory authorities, such as the FDA, follow stringent guidelines to evaluate biosimilars, ensuring they meet all necessary requirements. The introduction of biosimilars into the market provides additional treatment options for patients and healthcare providers, often at a reduced cost compared to the original biologics. The production of biosimilars fosters competition, possibly leading to more affordable healthcare solutions without compromising the quality of treatment. It encourages innovation within the pharmaceutical industry, thus contributing positively to healthcare accessibility. Through their blend of quality, effectiveness, and cost-efficiency, biosimilars stand as an essential component in the evolving landscape of healthcare and therapeutic management.

United States Biosimilar Market Trends:

The increasing need for cost-effective treatments due to rising healthcare costs is a major driver stimulating the growth of biosimilars. With the expiration of patents for several biologic drugs, the biosimilar industry has seen a rise in development, providing affordable alternatives to patients. Regulatory support, such as abbreviated pathways for biosimilar approval in the country, is further boosting the market. Additionally, the aging population in many developed countries, coupled with a higher prevalence of chronic diseases, such as cancer and diabetes, necessitates the demand for these less-expensive therapeutic alternatives, thereby contributing to its demand. Along with this, collaborations and partnerships between companies are fostering innovation, broadening the reach of biosimilars across different markets. Apart from this, the widespread acceptance and adoption of biosimilars by healthcare professionals and patients across the country have been enhanced by increasing awareness and understanding of the safety and efficacy of these products. Furthermore, investment in education and clear communication strategies around biosimilars ensures an informed choice, further driving market growth. Together, these factors create a conducive environment for the biosimilar industry, promoting increased accessibility, affordability, and innovation in healthcare treatments. Other factors, including rapid digitization, continuous product innovations, continual technological advancements, continual developments in the healthcare sector and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across the United States.

United States Biosimilar Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States biosimilar market report, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on molecule, manufacturing type, and indication.

Molecule Insights:

• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Adalimumab
• Pegfilgrastim
• Trastuzumab
• Bevacizumab
• Others
   

The report has provided a detailed breakup and analysis of the market based on the molecule. This includes infliximab, insulin glargine, epoetin alfa, etanercept, filgrastim, somatropin, rituximab, follitropin alfa, adalimumab, pegfilgrastim, trastuzumab, bevacizumab, and others.

Manufacturing Type Insights:

• In-house Manufacturing
• Contract Manufacturing
   

A detailed breakup and analysis of the market based on the manufacturing type have also been provided in the report. This includes in-house manufacturing and contract manufacturing.

Indication Insights:

• Auto-Immune Diseases
• Blood Disorder
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility
• Others
   

The report has provided a detailed breakup and analysis of the market based on the indication. This includes auto-immune diseases, blood disorder, diabetes, oncology, growth deficiency, female infertility, and others.

Regional Insights:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include the Northeast, Midwest, South, and West.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

United States Biosimilar Market Report Coverage:

Key Questions Answered in This Report:

• How has the United States biosimilar market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States biosimilar market?
• What is the breakup of the United States biosimilar market on the basis of molecule?
• What is the breakup of the United States biosimilar market on the basis of manufacturing type?
• What is the breakup of the United States biosimilar market on the basis of indication?
• What are the various stages in the value chain of the United States biosimilar market?
• What are the key driving factors and challenges in the United States biosimilar market?
• What is the structure of the United States biosimilar market and who are the key players?
• What is the degree of competition in the United States biosimilar market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States biosimilar market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States biosimilar market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States biosimilar industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.