Global Biosimilars Market

Biosimilars Market Size, Share, Growth Analysis, By Indication (Oncology, Inflammatory & Autoimmune Disorders), By Drug Type (Monocional Antibodies, Insulin), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35H2167 | Region: Global | Published Date: August, 2024
Pages: 165 | Tables: 70 | Figures: 75

Biosimilars Market Competitive Landscape

Investing in the research and development of advanced biosimilar products for the treatment of different indications will be a priority for all biosimilars companies. Launching new products will be crucial for biosimilars providers to stay competitive in this market. Collaborations will also help companies reduce their time-to-market and fast-track launches. Targeting the diabetes and oncology indications will pay off big time in the long run.  

Top Player’s Company Profiles 

  • Pfizer Inc. (US)  
  • Amgen Inc. (US)  
  • Samsung Bioepis (South Korea)  
  • Novartis AG (Switzerland)  
  • Celltrion Inc. (South Korea)  
  • Viatris Inc. (US)  
  • Coherus BioSciences (US)  
  • Biogen (US)  
  • Teva Pharmaceutical (Israel)  
  • Eli Lilly (US)  
  • Merck & Co (US)  
  • Biocon (India)  
  • FHoffman-La Roche Ltd. (Switzerland)  
  • Dr. Reddy’s Laboratories (India)  
  • Sandoz International GmbH (Germany)  
  • AbbVie Inc (US)  
  • Fresenius Kabi (Germany)  
  • Formycon (Germany)  
  • Alvotech (Iceland)  
  • AMPHASTAR PHARMACEUTICALS, INC. (US) 

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FAQs

Global Biosimilars Market size was valued at around USD 23.45 billion in 2022 and is expected to rise from USD 27.30 billion in 2023 to reach a value of USD 92 Billion by 2031, at a CAGR of 16.4% over the forecast period (2024-2031).  

Investing in the research and development of advanced biosimilar products for the treatment of different indications will be a priority for all biosimilars companies. Launching new products will be crucial for biosimilars providers to stay competitive in this market. Collaborations will also help companies reduce their time-to-market and fast-track launches. Targeting the diabetes and oncology indications will pay off big time in the long run.   'Pfizer Inc. (US)  ', 'Amgen Inc. (US)  ', 'Samsung Bioepis (South Korea)  ', 'Novartis AG (Switzerland)  ', 'Celltrion Inc. (South Korea)  ', 'Viatris Inc. (US)  ', 'Coherus BioSciences (US)  ', 'Biogen (US)  ', 'Teva Pharmaceutical (Israel)  ', 'Eli Lilly (US)  ', 'Merck & Co (US)  ', 'Biocon (India)  ', 'FHoffman-La Roche Ltd. (Switzerland)  ', 'Dr. Reddy’s Laboratories (India)  ', 'Sandoz International GmbH (Germany)  ', 'AbbVie Inc (US)  ', 'Fresenius Kabi (Germany)  ', 'Formycon (Germany)  ', 'Alvotech (Iceland)  ', 'AMPHASTAR PHARMACEUTICALS, INC. (US) '

Major drugs that are used extensively for the treatment of various diseases are facing patent expiry in recent years and this is opening new opportunities for biosimilar adoption. Completion of the exclusivity period for different biologics is also expected to boost sales of biosimilars.  

Entering Emerging Markets: The demand for affordable healthcare is highest in developing and underdeveloped economies, which is why biosimilars companies should expand their business in these countries. Limited patient spending potential and rising awareness regarding benefits of biosimilars will contribute to increased sales in these new emerging markets going forward.  

High incidence of chronic diseases and growing investments in the development of biosimilars are helping North America to dominate the global market. The United States is projected to spearhead biosimilars demand in this region owing to favorable regulatory environment and high investments in medical R&D. The presence of key pharmaceutical companies and rising prescription of biosimilars by healthcare professionals in this region will also boost market growth in the future.  

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Global Biosimilars Market

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