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Global Biosimilars Market CAGR To Exceed 16.6% by 2035, Due to The Increasing Demand for Cost-effective Biologic Therapies | Roots Analysis
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Biosimilars, highly similar versions of reference biologic therapies, are developed after the originator product loses its patent exclusivity. These biosimilars help in reducing costs ranging between 20% to 50%, increasing patient access by making treatments more accessible to patients who might otherwise struggle to afford them. Further, biosimilars encourage market competition by driving innovation in upcoming drugs and enhancing sustainability in the overall healthcare system by building on the existing knowledge / resources rather than designing entirely new biologics. In addition, streamlined regulatory frameworks have contributed to the growing acceptance of biosimilars as an alternative to the reference biologics. As the biopharmaceutical industry faces patent cliffs and pressure to reduce treatment costs, biosimilars are positioned to capture an unparalleled position in the overall pharmaceutical market.
Global Biosimilars Market Segments
Based on the drug class, the market is segmented into monoclonal antibodies, proteins, peptides and others
1. The monoclonal antibodies segment is likely to capture the largest revenue share of around 55% in the biosimilars market in 2025.
2. The peptides segment is anticipated to be the fastest growing segment in this industry, with an annualized growth rate (CAGR) of 18%, during the forecast period.
Based on the therapeutic area, the market is segmented into oncological disorders, autoimmune and inflammatory disorders, hematological disorders, metabolic disorders and other disorders
1. The oncological disorders segment is likely to capture the largest revenue share of around 40% in the biosimilars market in 2025.
2. The oncological disorders segment is anticipated to be the fastest growing segment in this industry, with an annualized growth rate (CAGR) of 18.3%, during the forecast period.
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Based on the type of manufacturer, the market is segmented into contract manufacturers and in-house developers
1. The in-house developers segment is likely to capture the largest revenue share of nearly 85% in the biosimilars market in 2025.
2. The contract manufacturers segment is anticipated to be the fastest growing segment in this industry, with an annualized growth rate (CAGR) of 18.3%, during the forecast period.
Based on the distribution channel, the market is segmented into hospital pharmacies, retail pharmacies and online pharmacies
1. The hospital pharmacies segment is likely to capture the largest revenue share of around 45% in the biosimilars market in 2025.
2. The retail pharmacies segment is anticipated to be the fastest growing segment in this industry, with an annualized growth rate (CAGR) of 17.8%, during the forecast period.
Based on the regional insights, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America
1. Europe is likely to dominate the biosimilars market, by capturing the largest revenue share of more than 50%, in 2025.
2. In North America, the biosimilars market is likely to demonstrate considerable growth with a relatively higher CAGR (~19.4%) during the forecast period.
Global Biosimilars Market Regional Outlook
Based on the geographical regions, the global biosimilars market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. Europe is anticipated to capture the majority share of the global biosimilars market in 2025. The advanced healthcare infrastructure and research capabilities in Europe enable drug developers to conduct extensive clinical trials, which are necessary to meet the required regulatory guidelines provided by the approval bodies. Further, the biosimilars domain in North America is accounted to be the fastest-growing segment of the market.
Key Report Takeaways
1. Presently, more than 900 biosimilars targeting a wide range of chronic diseases; of these, over 440 biosimilars are approved across the globe
2. Currently, over 170 players are engaged in the development of biosimilars; of these, more than 60% of players are headquartered in Asia-Pacific
3. The global biosimilars market is anticipated to grow at an annualized rate (CAGR) of 16.6%, till 2035; Europe is expected to capture the majority share (~50%) of the market by 2035
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Global Biosimilars Market Key Players
Examples of key companies engaged in global biosimilars market (which have also been profiled in this market report) include (in alphabetic order) Amgen, BIOCAD, Biocon, Celltrion, Coherus BioSciences, Dr. Reddy's Laboratories, Eli Lilly, Fresenius Kabi, Intas Pharmaceuticals, Pfizer, Sandoz, STADA, Teva Pharmaceutical
Contact Details
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com
About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
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