Biosimilars Market on the Rise: Expected 19.4% CAGR Over Next Five Years

"Monoclonal Antibody Biosimilars Surge with a 19.8% CAGR, Expanding Access to Affordable Biologic Therapies for Cancer, Autoimmune Diseases, and Chronic Conditions in Both Developed and Emerging Markets"

Boston, June 27, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, “Biosimilars: Global Markets” is expected to grow from $28.5 billion in 2024 to $69.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 19.4% from 2024 through 2029.

The report analyzes market drivers, restraints, and opportunities, as well as the competitive landscape. The market is segmented by product type (monoclonal antibodies, recombinant growth factors, recombinant hormones, fusion proteins, and others), therapeutic application (cancer, autoimmune diseases, diabetes, anemia, growth hormone deficiency, and other diseases), and region (North America, Europe, Asia-Pacific, and Rest of the World). The report also includes profiles of leading companies, discussing their business segments, financials, product portfolios, and recent developments.

This report is relevant in today’s world due to the rising costs of biologic therapies and the increasing demand for affordable treatment options. Biosimilars are gaining traction in key therapeutic areas like oncology, autoimmune diseases, and chronic conditions. The growing acceptance by healthcare providers and patients is expanding access to life-saving treatments.

The factors driving the market’s growth include:

Patent Expirations: When patents on major biologic drugs expire, other companies can produce similar, lower-cost versions, called biosimilars. This increases competition and reduces prices.

Cost-Effectiveness: Biosimilars are less expensive than original biologics, leading to significant healthcare savings. These savings can be used to improve other areas of patient care.

Increased Access and Awareness: As more people become aware of biosimilars and their benefits, their adoption increases. This means that more patients can access effective treatments at lower costs.

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Report Synopsis

Report Metric	Details
Base year considered	2023
Forecast period considered	2024-2029
Base year market size	$23.8 billion
Market size forecast	$69.2 billion
Growth rate	CAGR of 19.4% from 2024 to 2029
Segments covered	Product Type, Therapeutic Application, and Region
Regions covered	North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Countries covered	The U.S., Canada, Mexico, Italy, Spain, Germany, the U.K., France, Japan, China, India, Australia and South Korea
Market drivers	Patent expirations of major biologics. Cost-effectiveness and healthcare savings. Increasing access to and adoption and awareness of biosimilar drugs.

Interesting facts:

The use of biosimilars is expected to grow rapidly because many popular biologic drugs are losing their patents. In addition, they are being accepted by more doctors and patients.

Governments and healthcare organizations support biosimilars to save money while providing effective treatments.

Many startups are using advanced technologies to speed up the development and approval of biosimilars.

Emerging startups:

Alvotech
Synermore
MedGenome

The report addresses the following questions:

What is the projected market size and growth rate?

The biosimilars market is projected to grow from $23.8 billion in 2023 to $69.2 billion in 2029 at a CAGR of 18.6% during the forecast period.

What are the key factors driving the growth of the market?

Patent expirations of major biologics, cost-effectiveness, and healthcare savings drive market growth.

Which market segments are covered in the report?

The market is segmented by product type, therapeutic application, and region.

Which product type segment will be dominant through 2029?

The monoclonal antibodies segment will be dominant through the forecast period.

Which region has the largest market share in the market?

Europe has the largest market share.

Market leaders include:

ACCORD BIOPHARMA INC.
ALVOTECH
AMGEN INC.
AMNEAL PHARMACEUTICALS LLC.
BIOCON BIOLOGICS LTD.
BIOGEN
CELLTRION INC.
COHERUS BIOSCIENCES
FRESENIUS KABI AG
LILLY
PFIZER INC.
SAMSUNG BIOEPIS
SANDOZ GROUP AG
TEVA PHARMACEUTICAL INDUSTRIES LTD.
VIATRIS INC.

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Single-use Technologies for Biopharmaceuticals: Global Markets: This report examines the market’s leading companies, such as Sartorius AG, Danaher Corp, Merck KGaA, and Thermo Fisher Scientific. It explores market trends, drivers, challenges, opportunities, emerging technologies, and industry developments. The report includes financial analyses, product portfolios, and recent activities of major companies. Market projections and forecasts are provided for the next five years, with data segmented by region and further broken down by specific countries.

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