Biosimilars Market Growth

Biosimilars market growth to be driven by the cost-effective nature of biosimilars; Market size to reach USD 130.1 billion by 2035 | Roots Analysis
 

According to a recently published report by Roots Analysis, the growing prevalence of chronic diseases and increasing demand for cost-effective biologic therapies is driving the growth of global biosimilars market

Biosimilars Industry Overview

The biosimilars market size is expected to reach over USD 130.1 billion by 2035, growing at a CAGR of 16.5% over the forecast period, till 2035.

Biosimilars are highly similar versions of innovator biologic therapies, which are developed after the originator product's patent expires. These biosimilars address critical healthcare needs by reducing treatment costs by 20% to 50%, thereby enhancing patient access for those who may find these therapies financially burdensome. Additionally, the biosimilars foster 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. Further, streamlined regulatory frameworks have contributed to the growing acceptance of biosimilars as an alternative to reference products. As the biopharmaceutical industry faces patent cliffs and pressure to reduce treatment costs, biosimilars are positioned to capture an unprecedented position in the pharmaceutical market.

Browse 90+ figures and 115+ market data tables spread across ~320 pages and detailed Table of Content on “Global Biosimilars Market by Distribution by Drug Class (Monoclonal Antibodies, Proteins, Peptides and Others), Therapeutic Area (Oncological Disorders, Autoimmune and Inflammatory Disorders, Hematological Disorders, Metabolic Disorders and Other Disorders), Type of Manufacturer (Contract Manufacturers and In-house Developers), Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America) and Leading Players” here: https://www.rootsanalysis.com/reports/biosimilars-market.html

Market Drivers

Several factors are contributing to the global biosimilars market growth, including the rising prevalence of chronic diseases and increased adoption of large molecules as treatment therapy. Moreover, biosimilars act as a cost-effective alternative to expensive biologic therapies, thereby increasing patient accessibility. Additionally, the impending patent expiry of several blockbuster biologics is paving the way for various companies to develop and commercialize biosimilars. These factors collectively contribute to the growth of biosimilars within the pharmaceutical industry.

Market Restraints

While the biosimilars market is experiencing substantial growth, there are certain restraints that can hinder the growth of the industry. One of the primary restraints include concerns related to efficacy and safety profile of biosimilars which is related to the potential risk of immune-based adverse reactions. In addition, inconsistent quality among certain biosimilars and difficulties associated with the complex process of establishing interchangeability and naming conventions contribute as restraints for the developers. Consequently, all these factors may pose a significant challenge for biosimilar drug developers.

Growth Factors

Despite the aforementioned challenges, various factors continue to drive the biosimilars market growth. One notable factor includes the increased research activity in the domain. Researchers and drug developers are focusing on developing drugs that are safe with an emphasis on interchangeability with the reference biologic. Moreover, the integration of improved analytical tools presents a significant opportunity to enhance the ability to characterize complex biologic molecules, which is likely to revolutionize the field of biosimilars and enhance treatment efficacy and patient compliance.

Global Biosimilars Market Segments

Based on the drug class, the market is segmented into monoclonal antibodies, proteins, peptides and others

• The monoclonal antibodies segment is likely to capture the largest revenue share of around 55% in the biosimilars market in 2025.
• 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

• The oncological disorders segment is likely to capture the largest revenue share of around 40% in the biosimilars market in 2025.
• 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.

Based on the type of manufacturer, the market is segmented into contract manufacturers and in-house developers

• The in-house developers segment is likely to capture the largest revenue share of nearly 85% in the biosimilars market in 2025.
• 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

• The hospital pharmacies segment is likely to capture the largest revenue share of around 45% in the biosimilars market in 2025.
• 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

• Europe is likely to dominate the biosimilars market, by capturing the largest revenue share of more than 50%, in 2025.
• In North America, the biosimilars market is likely to demonstrate considerable growth with a relatively higher CAGR (19.4%), during the forecast period.

Key Companies Profiled

The global biosimilars market report also includes profiles of key players (listed below in alphabetical order) that are engaged in the biosimilars domain:

• Amgen Inc
• BIOCAD
• BioconCelltrion
• Coherus BioSciences
• Dr. Reddy’s Laboratories
• Eli Lilly
• Fresenius Kabi
• Intas Pharmaceuticals
• Pfizer Inc
• Sandoz
• STADA
• Teva Pharmaceutical

You Can Download Free Sample PDF Copy of This Report At:

https://www.rootsanalysis.com/reports/biosimilars-market/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in market research, competitive intelligence and consulting services. 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.

Contact Details

Gaurav Chaudhary

Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com