Biosimilar is a type of biological product which is very similar in reference to biologic and does not have clinically meaningful difference with regards to purity, safety, and potency. A biologic is a type of drug which is made by proteins and pieces of proteins (either natural or artificial). Biosimilars are produced in living cells and need considerable expertise and state-of-the-art technology in development and manufacturing. Biosimilar goes through different paths for the FDA approval and once approved, it requires a special approval which has to be considered before it can be replaced automatically for its brand name drug.

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The major factor that is propelling the growth of the global biosimilar market includes the increase in the penetration of chronic diseases all across the world as a result of the rise in fast food consumption among individuals and growth in the inactive lifestyle. In addition to this, the low cost of biosimilars due to the reduced clinical trials have increased access of the patients to the treatment. This is also a major factor that is bolstering the growth of the biosimilars market. Growth in the number of diagnosis of specific pathologies and the increase in the launch of new biologic products are further surging the demand for biosimilars in the market during the forecast period. Moreover, the rise in the geriatric population, increase in the research & development activities across various regions like Asia-Pacific, and growing focus on decreasing the healthcare cost across developing countries are some other significant drivers that are fuelling the growth of the global biosimilar market worldwide. The factors which are responsible for hindering the growth of the global biosimilar market include the presence of various complexities in the manufacturing process and the lack of definitive standards for approval.

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Based on the product, the monoclonal bodies segment is projected to grow at a higher CAGR in the global biosimilar market during the forecast period owing to the increase in the number of individuals suffering from diabetes, cancer, and autoimmune diseases. In addition, various advantages offered by monoclonal bodies that include the ability to generate antibodies when required, high scalability & reproducibility, and enhanced sensitivity, among others, are some other factors that are responsible for proliferating the growth of the segment.

Based on the indication, the oncology segment is anticipated to increase at a higher compound annual growth rate over the forecast period in the global biosimilar market due to the rise in the number of product launches of the oncology products and growth in the number of incidences of cancer such as blood, lung, and liver cancer. Moreover, an increase in the investments by various pharmaceutical companies in the research & development activities for the development of new oncology biosimilars is also a major factor fuelling the growth of the market in this segment.

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Based on the region, the Europe region is expected to dominate the global biosimilar market during the forecast period due to the rising demand for biosimilars among the population as a result of the increasing number of patients with chronic diseases in the region. In addition, the presence of several key biopharmaceutical companies in the region and growth in the geriatric population are some other major factors which are bolstering the growth of the biosimilars market across the region.

Various notable players operating in the market include Pfizer Inc., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Biocon, Celltrion Healthcare Co., Ltd., Samsung Biologics, Amgen Inc., Dr. Reddy’s Laboratories Ltd., and Viatris Inc., among others. 

Key Developments: 

• • In 2020, Pfizer Inc. launched rituximab biosimilar in Japan and three new biosimilars in the US market. The company launched a biosimilar version of Roche/Chugai’s cancer drug Rituxan (rituximab) in Japan.
  • In 2020, Sandoz International GmbH launched two new biosimilars called Riximyo and Ziextenzo in Canadian pharmacies and hospitals. Riximyo belongs to the family of medicines referred to as monoclonal bodies, and Ziextenzo is a type of long-acting form of recombinant human granulocyte colony-stimulating factor.

The global biosimilar market has been segmented on the basis of product, type of manufacturing, indication, and regions. Based on product, the market is segmented into insulin, monoclonal antibodies, erythropoietin, granulocyte colony-stimulating factor, etanercept, recombinant human growth hormone, teriparatide, follitropin, interferons, enoxaparin sodium, calcitonin, and glucagon. Based on the type of manufacturing, the market is segmented into contract manufacturing and in-house manufacturing. Based on indication, the market is segmented into chronic diseases, oncology, blood disorders, autoimmune diseases, infectious diseases, growth hormone deficiency, and other indications. 

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Key questions answered in this research report:

• • At what pace is the global biosimilar market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the biosimilar market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global biosimilar market?
  • Which product generated maximum revenues in 2019 and identify the most promising product during the forecast period?
  • What are the various indications of the global biosimilar market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Type of Manufacturing, By Indication, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Pfizer Inc., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Biocon, Celltrion Healthcare Co., Ltd., Samsung Biologics, Amgen Inc., Dr. Reddy’s Laboratories Ltd., and Viatris Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Biosimilar Market by Product

• • Insulin
  • Monoclonal Antibodies
  • Erythropoietin
  • Granulocyte Colony-Stimulating Factor
  • Etanercept
  • Recombinant Human Growth Hormone
  • Teriparatide
  • Follitropin
  • Interferons
  • Enoxaparin Sodium
  • Calcitonin
  • Glucagon

Global Biosimilar Market by Type of Manufacturing

• • Contract Manufacturing
  • In-House Manufacturing

Global Biosimilar Market by Indication

• • Chronic Diseases
  • Oncology
  • Blood Disorders
  • Autoimmune Diseases
  • Infectious Diseases
  • Growth Hormone Deficiency
  • Other Indications

Global Biosimilar Market by Region

• • North America Biosimilar Market (Option 1: As a part of the free 25% customization)
    • North America Biosimilar Market by Product
    • North America Biosimilar Market by Type of Manufacturing
    • North America Biosimilar Market by Indication
    • US Biosimilar Market All-Up
    • Canada Biosimilar Market All-Up
  • Europe Biosimilar Market (Option 2: As a part of the free 25% customization)
    • Europe Biosimilar Market by Product
    • Europe Biosimilar Market by Type of Manufacturing
    • Europe Biosimilar Market by Indication
    • UK Biosimilar Market All-Up
    • Germany Biosimilar Market All-Up
    • France Biosimilar Market All-Up
    • Spain Biosimilar Market All-Up
    • Rest of Europe Biosimilar Market All-Up
  • Asia-Pacific Biosimilar Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Biosimilar Market by Product
    • Asia-Pacific Biosimilar Market by Type of Manufacturing
    • Asia-Pacific Biosimilar Market by Indication
    • China Biosimilar Market All-Up
    • India Biosimilar Market All-Up
    • Japan Biosimilar Market All-Up
    • Rest of APAC Biosimilar Market All-Up
  • RoW Biosimilar Market (Option 4: As a part of the free 25% customization)
    • RoW Biosimilar Market by Product
    • RoW Biosimilar Market by Type of Manufacturing
    • RoW Biosimilar Market by Indication
    • Brazil Biosimilar Market All-Up
    • South Africa Biosimilar Market All-Up
    • Saudi Arabia Biosimilar Market All-Up
    • UAE Biosimilar Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Biosimilar Market All-Up

Major Players Operating in the Biosimilar Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Pfizer Inc.
  • Sandoz International GmbH
  • Teva Pharmaceutical Industries Ltd.
  • Eli Lilly and Company
  • Biocon
  • Celltrion Healthcare Co., Ltd.
  • Samsung Biologics
  • Amgen Inc.
  • Reddy’s Laboratories Ltd.
  • Viatris Inc.