The global biosimilars market was valued at USD 20.44 billion in 2022 and is projected to rise from USD 23.96 billion in 2023 to USD 73.03 billion by 2030, reflecting a CAGR of 17.3% during the forecast period. In 2022, Europe led the market, accounting for 50.44% of the overall share.
The biosimilars market is expanding rapidly, fueled by the rising demand for affordable biologic therapies, patent expirations of blockbuster drugs, and increasing acceptance among healthcare providers and patients. Governments and regulatory bodies are supporting biosimilar adoption to reduce healthcare costs and improve access to life-saving treatments for chronic diseases such as cancer, diabetes, and autoimmune disorders. Growing investments in biopharmaceutical research, advancements in manufacturing technologies, and strategic collaborations between pharmaceutical companies are further driving market growth. However, challenges such as complex regulatory pathways, high development costs, and concerns regarding interchangeability and patient trust remain key restraints. Despite these hurdles, the biosimilars market is expected to continue its strong trajectory as cost-effectiveness and clinical effectiveness strengthen global adoption.
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Market Segmentation
The biosimilars market can be segmented by drug class into monoclonal antibodies, granulocyte-colony stimulating factors, insulin, erythropoietin, recombinant human growth hormone, and other biologics. By disease indication, the market is categorized into oncology, autoimmune diseases, diabetes, blood disorders, and other therapeutic areas. Segmentation by distribution channel includes hospital pharmacies, retail pharmacies, and online pharmacies. Additionally, the market can be segmented by manufacturing type into in-house manufacturing and contract manufacturing.
List Of Key Companies Profiled:
Market Growth
The biosimilars market is experiencing strong growth fueled by the rising demand for cost-effective biologic therapies, patent expirations of blockbuster biologic drugs, and increasing acceptance of biosimilars by healthcare providers and patients. Supportive government initiatives, favorable regulatory pathways, and efforts to reduce healthcare expenditure are further accelerating market expansion. Growing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders is also boosting demand for biosimilars across global markets.