According to the recent report by IMARC Group, entitled “Biosimilar Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027”, the Biosimilars market reached a value of US$ 13.0 Billion in 2021. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting at a CAGR of 26.1% during 2022-2027.

Biosimilars are biotherapeutic products that are particularly identical to a reference biologic drug. They are produced using living organisms and cells that have complex molecular structures. To be labeled as a biosimilar, a biological drug must be proved similar in terms of efficacy, safety, and quality. Biosimilars are comparatively more expensive than generic drugs as their production process is complex and requires considerable investments in research and development (R&D) activities.

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 Biosimilar Market Trends:

The surging prevalence of chronic diseases, such as cancer and autoimmune diseases, especially among the geriatric population, represents one of the key factors significantly contributing to the market growth. Additionally, the growing instances of patent expiration and loss of protection in several biologic drugs are creating a positive outlook for the market. The manufacturers have to resort to approval from the regulatory authorities once their patent expires to start the production of biosimilars. Moreover, biosimilars do not require extensive marketing, as the efficacy and safety profile of their branded counterparts has already been established, which, in turn, is working in favor of the market growth. Besides this, the high costs related to innovator biologics, especially monoclonal antibodies (mAbs), have compelled governments to undertake initiatives encouraging the usage of biosimilars over branded biologics due to their cost-effectiveness, which is accelerating the market growth.

Biosimilar Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Biosimilars market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Novartis
• Pfizer
• Teva
• Celltrion
• Merck & Co
• Samsung Bioepis
• Eli Lilly
• Biocon
• Reddy's Laboratories
• Amgen
• Boehringer Ingelheim

Key Market Segmentation:

Molecule insights: 

• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa

Indication Insights:

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

Manufacturing Insights:

• In-house Manufacturing
• Contract Manufacturing

Regional Insights:

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

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Key Highlights of the Report:                                                           

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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