The global market for Biosimilars is estimated at US$37.8 Billion in 2023 and is projected to reach US$135.9 Billion by 2030, growing at a CAGR of 20.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the biosimilars market is driven by several factors. Advances in biotechnology and manufacturing processes have enhanced the production efficiency and quality of biosimilars, making them more competitive with their reference biologics. The increasing prevalence of chronic diseases and the rising demand for cost-effective treatments are expanding the addressable market for biosimilars. For instance, as the incidence of conditions like cancer, diabetes, and autoimmune diseases continues to rise, so does the need for affordable treatment options. Healthcare cost containment measures and favorable reimbursement policies in various countries are also propelling the adoption of biosimilars. Governments and insurance providers are increasingly recognizing the potential of biosimilars to reduce healthcare expenditures, leading to supportive policies and incentives. Moreover, the growing acceptance of biosimilars among healthcare professionals and patients, driven by successful clinical outcomes and real-world evidence, is accelerating market growth. Strategic initiatives by pharmaceutical companies, such as expanding biosimilar portfolios and entering emerging markets, are further fueling the market`s expansion. These companies are also investing in extensive educational campaigns to build trust and acceptance among prescribers and patients. Additionally, efforts to educate stakeholders about the benefits and safety of biosimilars are enhancing their market penetration, ensuring that these life-saving therapies reach a broader patient population. As a result, biosimilars are poised to play an increasingly important role in global healthcare, offering high-quality, affordable alternatives to costly biologic therapies.
The growth in the biosimilars market is driven by several factors. Advances in biotechnology and manufacturing processes have enhanced the production efficiency and quality of biosimilars, making them more competitive with their reference biologics. The increasing prevalence of chronic diseases and the rising demand for cost-effective treatments are expanding the addressable market for biosimilars. For instance, as the incidence of conditions like cancer, diabetes, and autoimmune diseases continues to rise, so does the need for affordable treatment options. Healthcare cost containment measures and favorable reimbursement policies in various countries are also propelling the adoption of biosimilars. Governments and insurance providers are increasingly recognizing the potential of biosimilars to reduce healthcare expenditures, leading to supportive policies and incentives. Moreover, the growing acceptance of biosimilars among healthcare professionals and patients, driven by successful clinical outcomes and real-world evidence, is accelerating market growth. Strategic initiatives by pharmaceutical companies, such as expanding biosimilar portfolios and entering emerging markets, are further fueling the market`s expansion. These companies are also investing in extensive educational campaigns to build trust and acceptance among prescribers and patients. Additionally, efforts to educate stakeholders about the benefits and safety of biosimilars are enhancing their market penetration, ensuring that these life-saving therapies reach a broader patient population. As a result, biosimilars are poised to play an increasingly important role in global healthcare, offering high-quality, affordable alternatives to costly biologic therapies.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Recombinant Non-glycosylated Proteins segment, which is expected to reach US$62.4 Billion by 2030 with a CAGR of a 20.5%. The Recombinant Glycosylated Proteins segment is also set to grow at 20.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $10.7 Billion in 2023, and China, forecasted to grow at an impressive 19.6% CAGR to reach $21.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Biosimilars Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Biosimilars Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Biosimilars Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Allergan Plc, Amgen Inc., Biocon Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 46 Featured):
- Allergan Plc
- Amgen Inc.
- Biocon Ltd.
- Biopartners GmbH
- Boehringer Ingelheim International GmbH
- Celltrion Inc.
- Dr. Reddy`s Laboratories Ltd.
- Eli Lilly and Company
- Fresenius Kabi
- Intas Pharmaceuticals Ltd.
- Mylan NV
- Pfizer Inc.
- Samsung Bioepis Co. Ltd.
- Sandoz International GmbH
- STADA Arzneimittel AG
- Teva Pharmaceutical Industries Ltd.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Allergan Plc
- Amgen Inc.
- Biocon Ltd.
- Biopartners GmbH
- Boehringer Ingelheim International GmbH
- Celltrion Inc.
- Dr. Reddy`s Laboratories Ltd.
- Eli Lilly and Company
- Fresenius Kabi
- Intas Pharmaceuticals Ltd.
- Mylan NV
- Pfizer Inc.
- Samsung Bioepis Co. Ltd.
- Sandoz International GmbH
- STADA Arzneimittel AG
- Teva Pharmaceutical Industries Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 193 |
| Published | July 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 37.8 Billion |
| Forecasted Market Value ( USD | $ 135.9 Billion |
| Compound Annual Growth Rate | 20.1% |
| Regions Covered | Global |
