Biosimilars Market by Product Type, End-Users, and Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

The Biosimilars Market report by Persistence Market Research provides an extensive analysis of market dynamics, growth factors, challenges, and emerging trends. It encompasses data and statistics on the market's trajectory from 2024 to 2031, offering insights into the current state and future outlook of the Biosimilars Market.

The global biosimilars market is anticipated to grow at a compound annual growth rate (CAGR) of 14.1% from USD 31.5 billion in 2024 to USD 100.1 billion by 2031.

Key Insights:

Estimated Market Size (2024): USD 31.5 Billion
Projected Market Size (2031): USD 100.1 Billion
Global Market Growth Rate (CAGR 2024 to 2031): 14.1%

Biosimilars Market - Report Scope:

Biosimilars are biologic medical products that are highly similar to existing biologic products, also known as reference or originator products. The biosimilars market encompasses a wide range of therapeutic categories, including oncology, autoimmune diseases, diabetes, and infectious diseases, among others. The report outlines key drivers behind the demand for biosimilars, including cost-effectiveness, patent expiries of biologic drugs, and increasing demand for affordable treatment options. Moreover, advancements in biotechnology, manufacturing processes, and regulatory pathways drive market growth by facilitating the development, approval, and commercialization of biosimilar products.

Market Growth Drivers:

The market's growth is propelled by several factors. Firstly, the need for cost-effective alternatives to expensive biologic drugs drives demand for biosimilars, offering significant cost savings for patients, healthcare providers, and payers. Additionally, patent expiries of blockbuster biologic drugs create opportunities for biosimilar manufacturers to enter the market and offer affordable alternatives, driving market competition and access to essential therapies. Moreover, increasing acceptance of biosimilars by healthcare professionals, patients, and regulatory authorities fosters market growth by addressing concerns related to safety, efficacy, and interchangeability with reference biologics.

Market Restraints:

Despite the positive outlook, the Biosimilars Market faces certain challenges. Regulatory complexities, intellectual property issues, and market access barriers may impact the development, approval, and commercialization of biosimilar products, influencing market dynamics and competitive landscape. Moreover, manufacturing complexities, including cell line development, process optimization, and quality control, pose challenges to biosimilar manufacturers in ensuring product comparability and consistency with reference biologics. Additionally, market dynamics such as pricing pressures, reimbursement policies, and market exclusivity rights may impact biosimilar uptake and market penetration, posing challenges to market expansion and profitability.

Market Opportunities:

The Biosimilars Market offers significant opportunities for growth and innovation. Manufacturers can focus on developing biosimilar products for niche therapeutic areas, including rare diseases, orphan drugs, and specialty biologics, addressing unmet medical needs and market gaps. Moreover, strategic partnerships, collaborations, and licensing agreements with biopharmaceutical companies, contract development and manufacturing organizations (CDMOs), and research institutions facilitate technology transfer, resource sharing, and knowledge exchange, driving biosimilar development and commercialization. Furthermore, expansion into emerging markets, including Asia Pacific, Latin America, and Middle East & Africa, offers opportunities for market expansion and portfolio diversification, tapping into growing demand for affordable biologic therapies and expanding patient populations.

Key Questions Addressed in the Report:

What is the Expected CAGR of the Biosimilars Market from 2024 to 2031?
What are the Key Factors Driving the Growth of the Biosimilars Market?
Which Therapeutic Category Holds the Largest Market Share in the Biosimilars Market?
Who are the Key Players in the Global Biosimilars Market?
What Strategies are Adopted by Leading Companies to Stay Competitive in the Biosimilars Market?

Competitive Landscape and Business Strategies:

Key players in the Biosimilars Market include Amgen Inc., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., and Biocon Limited. These companies focus on product development, regulatory strategies, and market access initiatives to differentiate themselves in the market and gain a competitive edge. For instance, Amgen Inc. is known for its biosimilar portfolio, including products such as Neupogen (filgrastim) biosimilar, while Pfizer Inc. specializes in biosimilar versions of blockbuster biologic drugs such as Humira (adalimumab). Market players also invest in research and development, manufacturing capabilities, and global expansion to enhance their biosimilar pipelines, address market needs, and capture market share in key therapeutic categories and geographic regions.

Key Companies Profiled:

Amgen Inc.
Pfizer Inc.
Novartis AG
Teva Pharmaceutical Industries Ltd.
Biocon Limited

Biosimilars Market Segmentation:

By Product Type:

Recombinant Glycosylated Proteins
Recombinant Non-Glycosylated Proteins

By Application:

Hematology
Growth Hormone Deficiency
Oncology
Diabetes Autoimmune
Disease
Others

By Distribution Channel:

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies

By Region:

North America
Latin America
Europe
South Asia and Pacific
East Asia
Middle East and Africa

Product Code: PMRREP2782

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies

5. Global Biosimilars Market Demand Analysis 2019-2023 and Forecast, 2024-2031

5.1. Historical Market Volume (Tons) Analysis, 2019-2023
5.2. Current and Future Market Volume (Tons) Projections, 2024-2031
5.3. Y-o-Y Growth Trend Analysis

6. Global Biosimilars Market - Pricing Analysis

6.1. Regional Pricing Analysis By Product Type
6.2. Global Average Pricing Analysis Benchmark

7. Global Biosimilars Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2031

7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2031
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Market Background

8.1. Macro-Economic Factors
- 8.1.1. Global GDP Growth Outlook
- 8.1.2. Global Industry Value Added Overview
- 8.1.3. Global Infrastructure Investment Overview
- 8.1.4. Global Construction Spending Analysis
- 8.1.5. Other Macro Economic Factors
8.2. Forecast Factors - Relevance & Impact
- 8.2.1. Top Companies Historical Growth
- 8.2.2. GDP Growth forecast
- 8.2.3. Construction Industry forecast
- 8.2.4. Distribution Channel Growth Outlook
- 8.2.5. Collaboration Activities
8.3. Value Chain
- 8.3.1. Raw Material Suppliers
- 8.3.2. List of Manufacturers
- 8.3.3. List of Distributors
8.4. COVID-19 Crisis - Impact Assessment
- 8.4.1. Current Statistics
- 8.4.2. Short-Mid-Long Term Outlook
- 8.4.3. Likely Rebound
8.5. Market Dynamics
- 8.5.1. Drivers
- 8.5.2. Restraints
- 8.5.3. Opportunity Analysis
- 8.5.4. Trends

9. Global Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031, by Product Type

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis by Type, 2019-2023
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Product Type 2024-2031
- 9.3.1. Recombinant Glycosylated Proteins
- 9.3.2. Recombinant Non-Glycosylated Proteins
9.4. Market Attractiveness Analysis by Product Type

10. Global Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031, By Application

10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2019-2023
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2024-2031
- 10.3.1. Hematology
- 10.3.2. Growth Hormone Deficiency
- 10.3.3. Oncology
- 10.3.4. Diabetes Autoimmune
- 10.3.5. Disease
- 10.3.6. Others
10.4. Market Attractiveness Analysis By Application

11. Global Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031, By Distribution Channel

11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume Analysis By Distribution Channel, 2019-2023
11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Distribution Channel 2024-2031
- 11.3.1. Hospital Pharmacies
- 11.3.2. Online Pharmacies
- 11.3.3. Retail Pharmacies
11.4. Market Attractiveness Analysis By Distribution Channel

12. Global Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031, by Region

12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume Analysis by Region, 2019-2023
12.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast by Region, 2024-2031
- 12.3.1. North America
- 12.3.2. Latin America
- 12.3.3. Europe
- 12.3.4. East Asia
- 12.3.5. South Asia and Pacific
- 12.3.6. Middle East and Africa (MEA)
12.4. Market Attractiveness Analysis By Region

13. North America Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
13.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 13.4.1. By Country
  - 13.4.1.1. U.S.
  - 13.4.1.2. Canada
- 13.4.2. By Type
- 13.4.3. By Application
- 13.4.4. By Distribution Channel
13.5. Market Attractiveness Analysis
- 13.5.1. By Country
- 13.5.2. By Type
- 13.5.3. By Application
- 13.5.4. By Distribution Channel
13.6. Market Trends
13.7. Key Market Participants - Intensity Mapping
13.8. Drivers and Restraints - Impact Analysis

14. Latin America Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
14.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 14.4.1. By Country
  - 14.4.1.1. Brazil
  - 14.4.1.2. Mexico
  - 14.4.1.3. Rest of Latin America
- 14.4.2. By Type
- 14.4.3. By Application
- 14.4.4. By Distribution Channel
14.5. Market Attractiveness Analysis
- 14.5.1. By Country
- 14.5.2. By Type
- 14.5.3. By Application
- 14.5.4. By Distribution Channel
14.6. Market Trends
14.7. Key Market Participants - Intensity Mapping
14.8. Drivers and Restraints - Impact Analysis

15. Europe Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
15.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 15.4.1. By Country
  - 15.4.1.1. Germany
  - 15.4.1.2. Italy
  - 15.4.1.3. France
  - 15.4.1.4. U.K.
  - 15.4.1.5. Spain
  - 15.4.1.6. BENELUX
  - 15.4.1.7. Russia
  - 15.4.1.8. Rest of Europe
- 15.4.2. By Type
- 15.4.3. By Application
- 15.4.4. By Distribution Channel
15.5. Market Attractiveness Analysis
- 15.5.1. By Country
- 15.5.2. By Type
- 15.5.3. By Application
- 15.5.4. By Distribution Channel
15.6. Market Trends
15.7. Key Market Participants - Intensity Mapping
15.8. Drivers and Restraints - Impact Analysis

16. South Asia and Pacific Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
16.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 16.4.1. By Country
  - 16.4.1.1. India
  - 16.4.1.2. ASEAN
  - 16.4.1.3. Oceania
  - 16.4.1.4. Rest of South Asia & Pacific
- 16.4.2. By Type
- 16.4.3. By Application
- 16.4.4. By Distribution Channel
16.5. Market Attractiveness Analysis
- 16.5.1. By Country
- 16.5.2. By Type
- 16.5.3. By Application
- 16.5.4. By Distribution Channel
16.6. Market Trends
16.7. Key Market Participants - Intensity Mapping
16.8. Drivers and Restraints - Impact Analysis

17. East Asia Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
17.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 17.4.1. By Country
  - 17.4.1.1. China
  - 17.4.1.2. Japan
  - 17.4.1.3. South Korea
- 17.4.2. By Type
- 17.4.3. By Application
- 17.4.4. By Distribution Channel
17.5. Market Attractiveness Analysis
- 17.5.1. By Country
- 17.5.2. By Type
- 17.5.3. By Application
- 17.5.4. By Distribution Channel
17.6. Market Trends
17.7. Key Market Participants - Intensity Mapping
17.8. Drivers and Restraints - Impact Analysis

18. Middle East and Africa Biosimilars Market Analysis 2019-2023 and Forecast 2024-2031

18.1. Introduction
18.2. Pricing Analysis
18.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2019-2023
18.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2024-2031
- 18.4.1. By Country
  - 18.4.1.1. GCC Countries
  - 18.4.1.2. Turkey
  - 18.4.1.3. Northern Africa
  - 18.4.1.4. South Africa
  - 18.4.1.5. Rest of Middle East and Africa
- 18.4.2. By Type
- 18.4.3. By Application
- 18.4.4. By Distribution Channel
18.5. Market Attractiveness Analysis
- 18.5.1. By Country
- 18.5.2. By Type
- 18.5.3. By Application
- 18.5.4. By Distribution Channel
18.6. Market Trends
18.7. Key Market Participants - Intensity Mapping
18.8. Drivers and Restraints - Impact Analysis

19. Emerging Countries Biosimilars Market Analysis

19.1. Introduction
- 19.1.1. Market Value Proportion Analysis, By Key Countries
- 19.1.2. Global Vs. Country Growth Comparison
19.2. U.S. Biosimilars Market Analysis
- 19.2.1. By Type
- 19.2.2. By Application
- 19.2.3. By Distribution Channel
19.3. Canada Biosimilars Market Analysis
- 19.3.1. By Type
- 19.3.2. By Application
- 19.3.3. By Distribution Channel
19.4. Mexico Biosimilars Market Analysis
- 19.4.1. By Type
- 19.4.2. By Application
- 19.4.3. By Distribution Channel
19.5. Brazil Biosimilars Market Analysis
- 19.5.1. By Type
- 19.5.2. By Application
- 19.5.3. By Distribution Channel
19.6. Germany Biosimilars Market Analysis
- 19.6.1. By Type
- 19.6.2. By Application
- 19.6.3. By Distribution Channel
19.7. Italy Biosimilars Market Analysis
- 19.7.1. By Type
- 19.7.2. By Application
- 19.7.3. By Distribution Channel
19.8. France Biosimilars Market Analysis
- 19.8.1. By Type
- 19.8.2. By Application
- 19.8.3. By Distribution Channel
19.9. U.K. Biosimilars Market Analysis
- 19.9.1. By Type
- 19.9.2. By Application
- 19.9.3. By Distribution Channel
19.10. Spain Biosimilars Market Analysis
- 19.10.1. By Type
- 19.10.2. By Application
- 19.10.3. By Distribution Channel
19.11. BENELUX Biosimilars Market Analysis
- 19.11.1. By Type
- 19.11.2. By Application
- 19.11.3. By Distribution Channel
19.12. Russia Biosimilars Market Analysis
- 19.12.1. By Type
- 19.12.2. By Application
- 19.12.3. By Distribution Channel
19.13. China Biosimilars Market Analysis
- 19.13.1. By Type
- 19.13.2. By Application
- 19.13.3. By Distribution Channel
19.14. Japan Biosimilars Market Analysis
- 19.14.1. By Type
- 19.14.2. By Application
- 19.14.3. By Distribution Channel
19.15. S. Korea Biosimilars Market Analysis
- 19.15.1. By Type
- 19.15.2. By Application
- 19.15.3. By Distribution Channel
19.16. India Biosimilars Market Analysis
- 19.16.1. By Type
- 19.16.2. By Application
- 19.16.3. By Distribution Channel
19.17. ASEAN Biosimilars Market Analysis
- 19.17.1. By Type
- 19.17.2. By Application
- 19.17.3. By Distribution Channel
19.18. Australia and New Zealand Biosimilars Market Analysis
- 19.18.1. By Type
- 19.18.2. By Application
- 19.18.3. By Distribution Channel
19.19. GCC Countries Biosimilars Market Analysis
- 19.19.1. By Type
- 19.19.2. By Application
- 19.19.3. By Distribution Channel
19.20. Turkey Biosimilars Market Analysis
- 19.20.1. By Type
- 19.20.2. By Application
- 19.20.3. By Distribution Channel
19.21. Northern Africa Biosimilars Market Analysis
- 19.21.1. By Type
- 19.21.2. By Application
- 19.21.3. By Distribution Channel
19.22. South Africa Biosimilars Market Analysis
- 19.22.1. By Type
- 19.22.2. By Application
- 19.22.3. By Distribution Channel

20. Market Structure Analysis

20.1. Market Analysis by Tier of Companies (Linear Alpha-Olefins)
20.2. Market Share Analysis of Top Players
20.3. Market Presence Analysis

21. Competition Analysis

21.1. Competition Dashboard
21.2. Competition Benchmarking
21.3. Competition Deep Dive
- 21.3.1. Pfizer Inc.
  - 21.3.1.1. Overview
  - 21.3.1.2. Product Portfolio
  - 21.3.1.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.1.4. Sales Footprint
  - 21.3.1.5. Strategy Overview
- 21.3.2. Sandoz International GMBH
  - 21.3.2.1. Overview
  - 21.3.2.2. Product Portfolio
  - 21.3.2.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.2.4. Sales Footprint
  - 21.3.2.5. Strategy Overview
- 21.3.3. Eli Lily & Company
  - 21.3.3.1. Overview
  - 21.3.3.2. Product Portfolio
  - 21.3.3.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.3.4. Sales Footprint
  - 21.3.3.5. Strategy Overview
- 21.3.4. Hospira Inc.
  - 21.3.4.1. Overview
  - 21.3.4.2. Product Portfolio
  - 21.3.4.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.4.4. Sales Footprint
  - 21.3.4.5. Strategy Overview
- 21.3.5. Amgen, Inc.
  - 21.3.5.1. Overview
  - 21.3.5.2. Product Portfolio
  - 21.3.5.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.5.4. Sales Footprint
  - 21.3.5.5. Strategy Overview
- 21.3.6. Biocon Ltd.
  - 21.3.6.1. Overview
  - 21.3.6.2. Product Portfolio
  - 21.3.6.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.6.4. Sales Footprint
  - 21.3.6.5. Strategy Overview
- 21.3.7. Actavis, Inc.
  - 21.3.7.1. Overview
  - 21.3.7.2. Product Portfolio
  - 21.3.7.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.7.4. Sales Footprint
  - 21.3.7.5. Strategy Overview
- 21.3.8. Cipla Ltd.
  - 21.3.8.1. Overview
  - 21.3.8.2. Product Portfolio
  - 21.3.8.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.8.4. Sales Footprint
  - 21.3.8.5. Strategy Overview
- 21.3.9. Teva Pharmaceutical Industries, Ltd.
  - 21.3.9.1. Overview
  - 21.3.9.2. Product Portfolio
  - 21.3.9.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.9.4. Sales Footprint
  - 21.3.9.5. Strategy Overview
- 21.3.10. Dr. Reddy's Laboratories Ltd.
  - 21.3.10.1. Overview
  - 21.3.10.2. Product Portfolio
  - 21.3.10.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.10.4. Sales Footprint
  - 21.3.10.5. Strategy Overview
- 21.3.11. Celltrion, Inc.
  - 21.3.11.1. Overview
  - 21.3.11.2. Product Portfolio
  - 21.3.11.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.11.4. Sales Footprint
  - 21.3.11.5. Strategy Overview
- 21.3.12. Stada Arzeimittel Ag
  - 21.3.12.1. Overview
  - 21.3.12.2. Product Portfolio
  - 21.3.12.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.12.4. Sales Footprint
  - 21.3.12.5. Strategy Overview
- 21.3.13. Mylan, Inc.
  - 21.3.13.1. Overview
  - 21.3.13.2. Product Portfolio
  - 21.3.13.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.13.4. Sales Footprint
  - 21.3.13.5. Strategy Overview
- 21.3.14. Wockhardt Ltd.
  - 21.3.14.1. Overview
  - 21.3.14.2. Product Portfolio
  - 21.3.14.3. Profitability by Market Segments (Product/Channel/Region)
  - 21.3.14.4. Sales Footprint
  - 21.3.14.5. Strategy Overview