The biosimilar market reached a value of US$ 13.0 Billion in 2021. This market is currently being driven by a number of factors such as patent expires of blockbuster biological drugs, lower prices, rising prevalence of chronic diseases, and cost-saving initiatives from governments and third-party payers. Catalyzed by these factors, the market is expected to reach US$ 60.8 Billion by 2027, exhibiting a CAGR of 26.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. Biosimilars, also known as follow-on biologics, refers to a biotherapeutic product which is highly similar to a reference biologic drug. It is produced using living organisms or cells and has a complex molecular structure. When the patent of a biologic drug expires, manufacturers resort to the approval from the regulatory authorities so as to start the production of biosimilars. For being labelled as a biosimilar, a biological drug should be proved similar in terms of quality, safety and efficacy. In comparison with generic drugs, biosimilars are expensive as their production process is more complex and requires higher investment in research and development.

Global Biosimilar Industry Drivers/Constraints:
Over the years, the patents of several blockbuster biologic drugs have expired and a number of blockbuster drugs are further expected to lose patent protection in the coming years. This is expected to provide tremendous opportunities for biosimilar manufacturers in the near future.
Cost-saving initiatives undertaken by governments and third-party payers have encouraged the use of biosimilars over branded biologics, thereby propelling the demand of biosimilars.
Some of the other factors bolstering the demand for biosimilars include cost-effectiveness, rising prevalence of chronic diseases (such as autoimmune diseases and cancer) and growing geriatric population.
There are some factors hampering the biosimilars market growth. This includes negative perception from physicians, patent extensions, lower price differential compared to small-molecule generics, etc.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biosimilar market, along with forecasts at the global and country level from 2022-2027. Our report has categorized the market based on molecule, indication and manufacturing type.

Molecule insights:

Infliximab
Insulin Glargine
Epoetin Alfa
Etanercept
Filgrastim
Somatropin
Rituximab
Follitropin Alfa

On the basis of the molecule, the market has been segmented as Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, etc. Currently, Infliximab dominates the market, holding the largest share.

Indication Insights: Auto-Immune Diseases
Blood Disorder
Diabetes
Oncology
Growth Deficiency
Female Infertility

Based on the indication, autoimmune diseases account for the majority of the total market share. Other major indications include oncology, diabetes, blood disorder, growth deficiency, female infertility, etc.

Manufacturing Type Insights:

In-house Manufacturing
Contract Manufacturing

Based on the type of manufacturing, the market is segregated into in-house manufacturing and contract manufacturing. Amongst these, in-house manufacturing accounts for the majority of the market share.

Regional Insights:

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

Region-wise, the market has been segmented into the United States, Germany, France, Italy, Spain, United Kingdom, Japan, India, South Korea and Others.

Competitive Landscape:
The competitive landscape of the global biosimilar market has also been analysed. Some of the leading players operating in the market are:

Novartis
Pfizer
Teva
Celltrion
Merck & Co
Samsung Bioepis
Eli Lilly
Biocon
Dr. Reddy’s Laboratories
Amgen
Boehringer Ingelheim

This report provides a deep insight into the global biosimilars market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the biosimilars market in any manner. Key Question Answered in this Report
1. What was the size of the global biosimilar market in 2021?
2. What is the expected growth rate of the global biosimilar market during 2022-2027?
3. What are the key factors driving the global biosimilar market?
4. What has been the impact of COVID-19 on the global biosimilar market?
5. What is the breakup of the global biosimilar market based on the molecule?
6. What is the breakup of the global biosimilar market based on the indication?
7. What is the breakup of the global biosimilar market based on the manufacturing type?
8. What are the key regions in the global biosimilar market?
9. Who are the key companies/players in the global biosimilar market?