Mordor Intelligence has published a new report on the Biosimilars Market, offering a comprehensive analysis of trends, growth drivers, and future projections.
The global biosimilars market is valued at USD 41.97 billion by 2025, expanding at a compound annual growth rate (CAGR) of 18.32% to reach USD 97.32 billion by 2030. This growth is driven by the increasing demand for cost-effective alternatives to branded biologics and the expiration of patents for several high-revenue biologic drugs.
Biosimilars are biologic medical products highly similar to already approved reference products, offering comparable safety and efficacy at a lower cost. Their adoption is gaining momentum as healthcare systems worldwide seek to manage rising treatment expenses.
Biosimilars Market Key Trends
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Cost-Effectiveness Driving Adoption
The high cost of biologic therapies has led to increased interest in biosimilars, which offer similar therapeutic benefits at reduced prices. This cost advantage is particularly appealing to healthcare providers and patients, facilitating broader access to essential treatments.
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Patent Expirations Opening Opportunities
The expiration of patents for several blockbuster biologics has created opportunities for biosimilar manufacturers to enter the market. This influx of biosimilars is expected to enhance competition and further drive down treatment costs.
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Regulatory Support Enhancing Market Entry
Regulatory agencies in various regions are implementing frameworks to streamline the approval process for biosimilars. These supportive measures are encouraging more manufacturers to invest in biosimilar development, accelerating market growth.
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Growing Acceptance Among Healthcare Providers
As evidence supporting the safety and efficacy of biosimilars accumulates, healthcare providers are becoming more confident in prescribing these alternatives. This growing acceptance is crucial for the widespread adoption of biosimilars in clinical practice.
Biosimilars Market Segmentation
By Product Type:
- Monoclonal Antibodies
- Recombinant Hormones
- Immunomodulators
- Anti-Inflammatory Agents
- Other Product Classes
By Application:
- Blood Disorders
- Growth Hormonal Deficiency
- Chronic and Autoimmune Disorders
- Oncology
- Other Applications
By Geography:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South America
In 2025, North America is expected to hold the largest market share, while Asia-Pacific is projected to experience the highest growth rate during the forecast period.
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Biosimilars Market Key Players
The biosimilars market features several key players contributing to its growth:
- Pfizer Inc.
- Novartis AG
- Amgen Inc.
- Coherus Biosciences Inc.
- Samsung Bioepies Co., Ltd
These companies are actively involved in the development and commercialization of biosimilars, leveraging their expertise to expand their product portfolios and market presence.
Find out our latest Blog Article on Biosimilars Market:
Conclusion
The biosimilars market is poised for significant growth, driven by the need for affordable biologic therapies, patent expirations, supportive regulatory environments, and increasing acceptance among healthcare providers. As more biosimilars enter the market, they are expected to play a crucial role in enhancing patient access to essential treatments and reducing healthcare costs globally.
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