Global Biosimilar Market By Product Overview
Biosimilar Market accounted for US$ 46.6 Billion in 2024 and is estimated to be US$ 65.4 Billion by 2034 and is anticipated to register a CAGR of 3.8%.
A biosimilar is a bio therapeutic that is clinically highly like an approved original biologic (reference product) in terms of active ingredients and has no meaningful differences in efficacy and safety. The biosimilars are also known as follow-on biologics or subsequent entry biologics. The biosimilars are produced using living organisms or cells and have a complex molecular structure. When the patent of a biologic drug expires, manufacturers resort to the approval from the regulatory authorities to start the production of biosimilars.
Global Biosimilar Market By Product Dynamics
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Drivers |
Restrains |
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Increasing Cases of Chronic Diseases |
Availability of Alternative Medications |
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Strong Product Pipeline |
Poor Reimbursement Services |
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Expiry of Blockbuster Biologics |
High Developmental Cost |
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Cost- Effectiveness of Biosimilars |
Complex Manufacturing Process |
Regional Insights:
On region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America market is estimated to witness a significantly high revenue share over the forecast period due to rising investment and funding, presence of many large research laboratories, such as Sandoz, Amgen, Teva Pharmaceutical, and others.
- Asia Pacific market is estimated to witness a fastest revenue share over the forecast period due to established and emerging players, favorable regulatory support for launch of biosimilars.
Global Biosimilar Market By Product Segmentation
Dividing this target market into segments:
Biosimilar Market is segmented based on Product Type, Application and Region.
Product Type Insight
On the basis of Product Type , the target market is segmented into Human Growth Hormone, Erythropoietin, Monoclonal Antibodies, Insulin, Interferon, Colony Stimulating Factors and Others
Application Insight
On the basis of Application, the target market is segmented into Oncology, Blood Disorders, Growth Hormone Deficiency Diseases and Chronic & Autoimmune Diseases
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
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Market Segmentation |
By Product Type – Human Growth Hormone, Erythropoietin, Monoclonal Antibodies, Insulin, Interferon, Colony Stimulating Factors and Others By Application - Oncology, Blood Disorders, Growth Hormone Deficiency Diseases and Chronic & Autoimmune Diseases |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034.
Global Biosimilar Market By Product Key Players
The key players operating biosimilar market are Novartis, Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono, Biogen idec, Inc., and Genentech.
Global Biosimilar Market By Product Key Issues Addressed
Recent Development:
The New Launched Product News,
- In May 2023, Boehringer Ingelheim received U.S. FDA clearance for Cyltezo Pen, a novel autoinjector choice for Cyltezo, an FDA approved interchangeable biosimilar to Humira. Cyltezo, initially approved as a pre-filled syringe, is indicated to treat multiple chronic inflammatory diseases. FDA approval of the Cyltezo Pen is great news for patients living with chronic inflammatory diseases who prefers administering the medication needed to manage their conditions via an autoinjector.
- In October 2023, Boehringer Ingelheim (BI) launched an unbranded version of its adalimumab biosimilar.BI launched this at 81% discount to the originator (Humira). For comparison, the company’s branded version of the drug is priced 5% lower than Humira, which currently has a list price of $6922 per month. The dual-pricing strategy has been very popular in the adalimumab biosimilar space, where 3 other adalimumab biosimilars (Amjevita, Hyrimoz, Hulio) launched with 2 Wholesale Acquisition Costs (WACs).
Global Biosimilar Market By Product Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market prerview
- Executive Summary
- Key Findings—Global Outlook for Biosimilars Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Product Type, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Human Growth Hormone
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Erythropoietin
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Monoclonal Antibodies
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Insulin
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Interferon
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Colony Stimulating Factors
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Overview
- Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Oncology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Blood Disorders
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Growth Hormone Deficiency Applications
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Chronic & Autoimmune Applications
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Overview
- Global Market, By Region, Forecast Period up to 10 Years, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Products, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Type of Manufacturing, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Type of Manufacturing, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Type of Manufacturing, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Type of Manufacturing, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Type of Manufacturing, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Mn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Pfizer
- Company Overview
- Product and Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Teva Pharmaceuticals
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Amgen
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Biocon
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Dr. Reddy’s Laboratories
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Celltrion
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Samsung Biologics
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Biogen
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Mylan N.V
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Pfizer
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Biosimilar Market is segmented into Product Type, application and Region.
High development costs and complexities associated with manufacturing, as well as concerns related to safety, efficacy, and interchangeability with reference biologics, leading to regulatory challenges and market hesitancy.
Increasing demand for cost-effective alternatives to biologic drugs and the patent expiration of several biopharmaceutical products.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
Novartis, Synthon Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., LG Life Sciences, Celltrion, Biocon, Hospira, Merck Serono, Biogen idec, Inc., and Genentech.