Global Biosimilar Market Outlook 2022- 2027

The biosimilar market size reached US$ 13.0 Billion in 2021. This market is currently being driven by a number of factors such as patent expires of blockbuster biological drugs, lower prices, rising prevalence of chronic diseases, and cost-saving initiatives from governments and third-party payers. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting a growth rate (CAGR) of 26.1% during 2022-2027. 

Biosimilars, also known as follow-on biologics, refers to a biotherapeutic product which is highly similar to a reference biologic drug. It is produced using living organisms or cells and has a complex molecular structure. When the patent of a biologic drug expires, manufacturers resort to the approval from the regulatory authorities so as to start the production of biosimilars. For being labelled as a biosimilar, a biological drug should be proved similar in terms of quality, safety and efficacy. In comparison with generic drugs, biosimilars are expensive as their production process is more complex and requires higher investment in research and development.

Global Biosimilar Industry Drivers/Constraints:

• Over the years, the patents of several blockbuster biologic drugs have expired and a number of blockbuster drugs are further expected to lose patent protection in the coming years. This is expected to provide tremendous opportunities for biosimilar manufacturers in the near future.
• Cost-saving initiatives undertaken by governments and third-party payers have encouraged the use of biosimilars over branded biologics, thereby propelling the demand of biosimilars.
• Some of the other factors bolstering the demand for biosimilars include cost-effectiveness, rising prevalence of chronic diseases (such as autoimmune diseases and cancer) and growing geriatric population.
• There are some factors hampering the biosimilars market growth. This includes negative perception from physicians, patent extensions, lower price differential compared to small-molecule generics, etc.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biosimilar market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on molecule, indication and manufacturing type.

Molecule insights:                   

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

On the basis of the molecule, the market has been segmented as Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, Pegfilgrastim, Trastuzumab, Bevacizumab, and Others.

Indication Insights:

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

On the basis of the indication, the market has been segmented as Auto-Immune Diseases, Blood Disorders, Diabetes, Oncology, Growth Deficiency, Female Infertility, and Others.

Manufacturing Type Insights:

• In-house Manufacturing
• Contract Manufacturing
   

Based on the type of manufacturing, the market is segregated into in-house manufacturing and contract manufacturing. Amongst these, in-house manufacturing accounts for the majority of the market share.

Regional Insights:

• Europe
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• United States
• Japan
• India
• South Korea
• Others
   

Region-wise, the market has been segmented into Europe (Germany, France, Italy, Spain, the United Kingdom and Rest of Europe), the United States, Japan, India, South Korea and Others.

Competitive Landscape:

The competitive landscape of the global biosimilar market has also been analysed. Some of the leading players operating in the market are:

• Sandoz International GmbH
• Pfizer Inc.
• Teva Pharmaceutical Industries Limited
• Celltrion Inc.
• Biocon Limited
• Samsung Biologics
• Amgen, Inc.
• Dr. Reddy's Laboratories Limited
• Stada Arzneimittel Ag
   

This report provides a deep insight into the global biosimilars market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the biosimilars market in any manner.

Report Coverage: