Biosimilars Gaining Prominence Owing to the Increased Cost of Biologic Drugs and Rising Incidence of Chronic Conditions, Global Market Expected to Reach $93 Billion by 2030
Tuesday Feb 04, 2025
A new report by Industry Experts, Inc., on "Biosimilars Market", is unveiled. The global Biosimilars market is estimated at $34.8 billion in 2024 and projected to reach $93 billion by 2030, exhibiting a CAGR of 17.8% from 2024 to 2030.
The global Biosimilars market growth is driven by the increasing cost of biologic drugs, leading to a greater demand for more affordable options. The biologics patent expiration is another significant driver, allowing Biosimilar manufacturers to offer affordable options while maintaining similar therapeutic efficacy. The rising incidence of chronic conditions, including cancer, kidney disease, arthritis, and Crohn's disease, further enhances the demand for Biosimilars, which are utilized in managing these ailments. Moreover, the increasing expenditure on healthcare and the need to cut drug costs have prompted governments and insurers to endorse Biosimilars.
Europe dominates the global Biosimilars market with an estimated 40.8% share in 2024, due to its robust healthcare system, a rising prevalence of diseases, and a supportive regulatory framework. The region's swift adoption and increased awareness of Biosimilars among healthcare professionals and patients play a crucial role in market expansion. Conversely, the Asia-Pacific region is experiencing rapid growth, driven by increased investments in pharmaceutical research and development, rising demand for affordable treatments, and an aging population in countries such as China, India, and Japan.

The global market for Biosimilars is analyzed in this report across all major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and the Rest of Asia-Pacific), and Rest of the World (Brazil, Israel, and Other Countries).
Biosimilars global market is analyzed in this report based on Type – Monoclonal Antibodies (moAb), Erythropoietin (EPO), Granulocyte Colony-Stimulating Factor (G-CSF), Insulin, and Others (Including Interferons, Follitropins, Recombinant Proteins, and Others); and Therapeutic Area – Oncology, Autoimmune Disorders, Blood Disorders, Growth Hormone Deficiency, and Other Therapeutic Areas (Including Chronic Diseases, Infectious Diseases, Cardiovascular Disorders, and Others).
About Industry Experts, Inc.
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/
Subscribe to Research Updates
Subscribe now and start receiving the latest updates from Industry Experts on new market research reports, key industry news and more via email.
Browse Our Reports
- Advanced Technologies
- Automotive & Transportation
- Biotechnology
- Chemicals & Materials
- Clinical Diagnostics
- Construction & Manufacturing
- Eco-Friendly Technologies
- Energy & Utilities
- Electricals & Electronics
- Food & Beverages
- Healthcare & Pharma
- Industrial Machinery
- Laboratory Equipment & Supplies
- Medical Equipment & Supplies
- Metals & Minerals
- Nutraceuticals
- Packaging Materials