Biosimilars Market Size, Share, Trends, Growth and Forecast 2032

Biosimilars Market Insights

According to Zion Market Research, the global Biosimilars Market was worth USD 29.45 Billion in 2023. The market is forecast to reach USD 86.37 Billion by 2032, growing at a compound annual growth rate (CAGR) of 12.82% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Biosimilars industry over the next decade.

Request Free Sample

Global Biosimilars Market: Overview

Biosimilar is a biopharmaceutical product that is similar to the previous or the original existing product that is manufactured by a company. The biosimilar also has alternative names such as subsequent entry biologic or follow-on biologic. When the patent of the original product expires biosimilars can be manufactured which are approved officially. When the patent expires of an approved recombinant drug any other biotech company can generate and market these biologics, thus the name biosimilars.

Global Biosimilars Market: Segmentation

The global biosimilar market is segmented into its product, manufacturing type, and application.

Based on the product, the market is segregated into recombinant non-glycosylated proteins, recombinant peptides, and recombinant glycosylated proteins.

Further, the recombinant non-glycosylated proteins are sub-segmented into granulocyte colony-stimulating factor, interferons, insulin, and recombinant human growth hormones. The recombinant glycosylated proteins segment is sub-segmented into urofollitropin, erythropoietin, and monoclonal antibodies.

the insulin and granulocyte colony-stimulating factor segment is sub-segmented into calcitonin and glucagon.

On the basis of the manufacturing type, the market is categorized into contract manufacturing organizations and in-house manufacturing.

On the basis of application, the market is divided into blood disorders, growth hormone deficiency, oncology, chronic & autoimmune diseases, infectious diseases, and others.

Request Free Sample

Global Biosimilars Market: Growth Factors

The major factor that contributed to the biosimilar market growth is the emergence of biologic products that are off-patent. These drugs are very cost-effective thus making their demand increase substantially. In the coming years, this demand for biosimilars is going to increase. The increasing rate of diseases across the globe has also helped in contributing to market growth. The manufacturers of biological drugs have started to take initiatives in making innovative strategies in order to develop the biosimilar market. Even though the market is in a phase where it is flourishing there are some restraining factors that are affecting the market growth. The factors such as lengthy clinical trials which are required from the regulatory bodies for approval and the production of biosimilars requiring complex infrastructure are affecting the market growth.

Biosimilars Market: Report Scope

Global Biosimilars Market: Regional Analysis

The biosimilars market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The region that is leading the biosimilars market is Europe and it accounts for the largest share of the global market. The factors that have attributed to this growth are Omni trope, bino crits, and lenograstim. Additionally, the strict regulatory framework and the increasing pipeline products estimate to contribute towards the growth of the European biosimilar market. There are opportunities increasing in the regions such as the Asia Pacific region. As per the study, the Asia-Pacific region will have a progressive growth rate in the coming years. The stringent protocols in the US are hampering the biosimilars market in the North American region.

Global Biosimilars Market: Competitive Players

The key market players in the biosimilars market include-

• Pfizer Inc.
• Teva Pharmaceuticals Industries Ltd.
• Biocon Ltd.
• F. Hoffmann-La Roche Ltd.
• Samsung Bioepis
• Sandoz International GmbH
• Amgen Inc.
• Dr. Reddy’s Laboratories Ltd.
• Celltrion

The report segments the Global Biosimilars market as follows:

Global Biosimilars Treatment Market: Product Segment Analysis

• Recombinant non-glycosylated proteins
  • Granulocyte Colony-Stimulating Factor
  • Interferons
  • Insulin
  • Recombinant Human Growth Hormones
• Recombinant peptides
• Recombinant glycosylated proteins
  • Urofollitropin
  • Erythropoietin
  • Monoclonal antibodies

Global Biosimilars Treatment Market: Manufacturing Type Segment Analysis

• Contract manufacturing organizations
• In-house manufacturing

Global Biosimilars Treatment Market: Application Segment Analysis

• Blood disorders
• Growth hormone deficiency 
• Oncology
• Chronic & autoimmune diseases
• Infectious diseases
• Others

Global Biosimilars Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa