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Latin America Biosimilars Market Report 2025 | Prominent Players Covered in this report are: Amgen Inc; F. Hoffmann-La Roche Ltd. Sandoz International GmbH; Teva Pharmaceutical Industry Company; Pfizer Inc; Samsung Bio Peace; Biocon and Mylan N.V.
Latin America Biosimilars Market
The Latin America Biosimilars market was estimated at USD 517 million in 2018 and is expected to reach USD 3,915 million by 2025, increasing at a compound annual growth rate of 33% over the 2018-2025 forecast period.
Biosimilars are widely used in the prevention and treatment of various chronic diseases, such as diabetes, cancers, cardiovascular diseases, autoimmune diseases, rheumatoid arthritis, kidney failure, growth hormone deficiency, hematological and infectious diseases, where an increase in demand is expected to find in the years to come. These drugs are comparatively profitable, as demand is expected to increase significantly in the coming years.
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Drivers, Challenges and Opportunities:
The growing prevalence of different diseases in Latin America is expected to stimulate market growth in the projected period. Patents for several successful biopharmaceutical products have expired or are about to expire, which reflected in the growth of the biosimilar industry. Changes to regulatory guidelines and practical biosimilar approval processes have a major impact on the commercial growth of the Latin American biosimilars market. In addition, the availability of affordable generic drugs on the market may also hinder sales of biosimilars. The main restriction imposed on manufacturers is to establish biosimilarity through in-depth analytical characterization. However, significant investments in research and development, longer development processes, and optimal profitability requirements at scale significantly limit the growth of the biosimilar market in this region.
Latin America Biosimilars Market Segmentation:
The biosimilar market in Latin America is divided into manufacturing, products and applications. Depending on the type of manufacturing, the market is classified as contract manufacturing and internal manufacturing. Based on this product, the market is divided into recombinant non-glycosylated proteins, recombinant peptides and recombinant glycosylated proteins. Depending on the application, the market is divided into blood diseases, growth hormone deficiency, oncology, chronic and autoimmune diseases, infectious diseases and others.
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Geographic Segmentation:
By region, the market is segmented as Brazil, Argentina, Chile, Mexico, Colombia, Venezuela and Peru. Brazil dominated the Latin American market in terms of income due to various subsidies granted by local governments. In addition, the growth of this market has been facilitated by the government providing funds to develop biosimilar drugs at the local level.
Key Market Players:
The market is divided into various medium and large manufacturers. The largest companies in this market are Amgen Inc; F. Hoffmann-La Roche Ltd. Sandoz International GmbH; Teva Pharmaceutical Industry Company; Pfizer Inc; Samsung Bio Peace; Biocon and Mylan N.V.
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