Global Biosimilars Market
The global biosimilars market is estimated to be worth over USD 122.75 Bn in 2033 and is expected to grow at CAGR of 15.5% during the forecast period (2024-2033). The global biosimilars market, in current times, has emerged as a transformative force and the market is flourishingat a rapid pace in the pharmaceutical industry. This market, portrayed by the evolution of biologically similar choices to established biologic drugs, is witnessingsignificant growth and development. With a keen attention on cost-efficiency, patent terminations, and the soaring need for easily obtainable healthcare, biosimilars are revolutionizing the pharmaceutical outlook.
Biosimilars have overstepped and excelled their conventional role as generic versions of biologics and are now have become prominent as innovative treatments in their own right. They imitate the structural and functional complexities of originator biologics, deliveringnotable cost savings whilstholding treatment safety and efficacy. As a result, the adoption of biosimilars is on the surge, offering relief to healthcare systems and patients contending with the increasing costs of healthcare.
The expiry of patents for numerous eminent biologics has cleared the way for biosimilar market expansion. Biosimilar manufacturers have grasped the opportunity to introduce alternatives to high-cost biologics, paving its way to increased competition and cost reduction in the pharmaceutical outlook. For example, adalimumab and trastuzumab biosimilars have revolutionized the treatment standards for breast cancer and autoimmune diseases, underscoring the potential of biosimilars in addressing complex and chronic conditions.
The biosimilar market is not just restricted to established pharmaceutical markets but is also diversifyingrobustly in emerging economies. In these regions, biosimilars are regarded as a crucial solution for offering accessible and high-quality healthcare. Regulatory authoritiesacross the world have established straight opportunities for biosimilar approvals, catalyzing the escalation of these therapies.
Moreover, there are several biopharmaceutical companies working solely towards biosimilar development which is further projected toshape the industry. Their advanced expertise is facilitating innovation and cost reduction, extending the limits of research and development. In this regard, they are accelerating the market's growth and revolutionizing the pharmaceutical scenario into a more patient-centric, competitive, and accessible sphere.
Thus, the global biosimilars market is emerging as a transformative and rapidly developing force in the pharmaceutical industry. Fueled by a focus on cost-effectiveness, patent expirations, and the ever-increasing demand for accessible healthcare, biosimilars are reshaping the pharmaceutical landscape and providing new opportunities for patients and healthcare systems worldwide. This dynamic market is set to play a pivotal role in the future of healthcare and the pharmaceutical sector.
The market report presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this industry, across different geographies. Amongst other elements, the market report includes:
A preface providing an introduction to the full report, biosimilars market, 2023-2033.
An outline of the systematic research methodology adopted to conduct the study on biosimilars market, providing insights on the various assumptions, methodologies, and quality control measures employed to ensure accuracy and reliability of our findings.
An overview of economic factors that impact the overall biosimilars market, including historical trends, currency fluctuation, foreign exchange impact, recession, and inflation measurement.
An executive summary of the insights captured during our research, offering a high-level view of the current state of the biosimilars market and its likely evolution in the mid-to-long term.
A brief introduction to the biosimilars, highlighting their historical background, as well as information on their types, key aspects, key challenges and the advantages of using biosimilars.
A detailed assessment of the market landscape of biosimilars that are either approved or being evaluated in different stages of development, based on several relevant parameters, such as by drug class (Monoclonal Antibodies (Infliximab, Trastuzumab, Rituximab, Adalimumab, Other monoclonal antibodies), Insulin, Granulocyte Colony-Stimulating Factor, Erythropoietin, Recombinant Human Growth Hormone, Etanercept, Follitropin, Teriparatide, Interferons, Anticoagulants, Other Drug Class), indication (Oncology, Inflammatory & Autoimmune Disorders, Chronic Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases, Other Indications). Further, the chapter features analysis on key niche market segments. In addition, the chapter features analysis of various biosimilars developers, based on their year of establishment, company size, location of headquarters and most active players.
An in-depth analysis of partnerships and collaborations that have been inked between various stakeholders, since 2019, based on several relevant parameters, such as the year of partnership, type of partnership, focus of partnership, purpose of partnership, therapeutic applications and most active players (in terms of number of partnerships). It also highlights the regional distribution of partnership activity in this market.
A detailed analysis of various investments made by companies engaged in this industry, since 2019, based on several relevant parameters, such as year of funding, type of funding (grants, seed, venture capital, initial public offering, secondary offerings, private equity and debt financing), type of HPAPIs, amount invested, geography, purpose of funding, stage of development, therapeutic area, most active players (in terms of number and amount of funding instances) and leading investors (in terms of number of funding instances).
An in-depth analysis of the various biosimilars focused initiatives undertaken by big market players, based on several relevant parameters, such as number of initiatives, year of initiative, type of initiative, purpose of initiative, focus of initiative and location of headquarters of the big pharma players.
One of the key objectives of this market report was to estimate the current market size and the future growth potential of the biosimilars over the forecast period. Based on several parameters, such as regional analysis as well as segmental analysis rates, we have developed informed estimates of the likely evolution of the biosimilars market over the forecast period 2023-2033. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as by drug class (Monoclonal Antibodies (Infliximab, Trastuzumab, Rituximab, Adalimumab, Other monoclonal antibodies), Insulin, Granulocyte Colony-Stimulating Factor, Erythropoietin, Recombinant Human Growth Hormone, Etanercept, Follitropin, Teriparatide, Interferons, Anticoagulants, Other Drug Class), indication (Oncology, Inflammatory & Autoimmune Disorders, Chronic Diseases, Blood Disorders, Growth Hormone Deficiency, Infectious Diseases, Other Indications), key geographical regions (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) and leading players. In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.