Increasing Demand for Biosimilars Drives Market Growth Amid Advances in Cancer Treatment and Healthcare Solutions

Increasing prevalence of various cancer types such as blood cancer, & brain tumors, & rising number of biosimilar products are key factors driving market growth

VANCOUVER, BC, CANADA, March 6, 2025 /EINPresswire.com/ -- The latest report, titled ‘Global Biosimilar Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Biosimilar market scenario. The research report provides the reader with an in-depth interpretation of the Biosimilar market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Biosimilar industry. The market intelligence report is a prototype of the 360° overview of the global Biosimilar industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.

The global biosimilar market size was USD 25.50 Billion in 2022 and is expected to register a rapid revenue CAGR of 17.9% during the forecast period. Global market research highlights the rapidly growing biosimilar market, fueled by the rising prevalence of cancer and the increasing adoption of cost-effective treatment alternatives. Regulatory approvals and expanding pipelines of biosimilar products are set to transform healthcare accessibility and affordability.

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Key Drivers of Market Growth

The demand for biosimilars is on the rise, driven by their critical role in managing various conditions, particularly cancer. In Europe, lung cancer ranks as the second most common cancer, with over 477,000 new cases reported. Biosimilars like Novartis’ Ziextenzo (Pegfilgrastim-bez Injection) are effective in complementing chemotherapy by reducing infection risks for cancer patients with low neutrophil counts. The availability of such alternatives is reshaping the treatment landscape.

The market also sees significant contributions from increasing biosimilar approvals. By December 2022, the U.S. Food and Drug Administration (FDA) had approved 40 biosimilars, with more in development. Notable approvals include interchangeable biosimilars Rezvoglar (insulin glargine) and Cimeri (ranibizumab), broadening options for patients with diabetes and vision disorders. Approximately 60-70 biosimilars are currently in the development pipeline, with many expected to launch within the next three to four years.

Advancements and Opportunities

Continuous innovation is another driving force in the biosimilar industry. Companies are advancing manufacturing processes and analytical methods, leading to notable product launches like Glenmark Pharmaceuticals' Ryaltris and Samsung Bioepis’ Aybintio in 2021. These developments reflect the industry’s focus on creating accessible and affordable treatment options for patients worldwide.

While the market is progressing, challenges such as high treatment costs and limited awareness in certain regions remain. Despite these hurdles, biosimilars offer a viable solution to make life-saving treatments more affordable. Furthermore, the expiration of patents for key biologics is creating new opportunities for biosimilar developers to enter the market.

Market Insights

Applications: Biosimilars cater to conditions like cancer, autoimmune diseases, and chronic disorders. The autoimmune segment leads the market due to the rising prevalence of diseases like rheumatoid arthritis. Oncology is also a significant growth area, with cancer cases expected to reach 27.5 million globally by 2040.

Drug Classes: Monoclonal antibodies and insulin biosimilars are experiencing substantial growth. Monoclonal antibodies, crucial in cancer and autoimmune therapies, hold a significant market share. Similarly, insulin biosimilars provide cost-effective diabetes treatments, addressing the needs of an expanding patient base.

End-Use Sectors: Retail pharmacies dominate biosimilar distribution due to growing patient education and accessibility efforts. Pharmacists play a vital role in increasing awareness and guiding patients through insurance and financial assistance options. Hospital pharmacies are also witnessing growth, offering convenience and improved treatment outcomes.

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Future Outlook

The biosimilar market is poised for transformative growth, driven by increasing awareness, regulatory support, and rising investment in research and development. As companies prioritize cost-effective and innovative healthcare solutions, the global adoption of biosimilars is expected to expand, improving access to essential treatments for millions of patients.

Competitive Terrain:

The global Biosimilar industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The Leading Market Contenders Listed In The Report Are:

Novartis AG

Orion Pharma AB

Pfizer Inc.

Samsung Bioepis.

Coherus BioSciences, Inc.

Amgen Inc.

Eli Lilly and Company

Takeda Pharmaceutical Company Limited

Bristol-Myers Squibb Company

Merck KGaA

Teva Pharmaceutical Industries Ltd.

Biocon

Bayer AG

AbbVie Inc.

Allergan

Reddy’s Laboratories Ltd.

Boehringer Ingelheim International GmbH

Biogen

Mylan Inc.

Sandoz Group AG

Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/biosimilar-market

Biosimilar Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented the global biosimilar market on the basis of application, industry vertical, end-use industry, and region:

Biosimilar Application Insights: (Revenue, USD Billion; 2019-2032)

Chronic and Autoimmune Diseases

Oncology Diseases

Blood Disorders

Others

Biosimilar Drug Class Insights: (Revenue, USD Billion; 2019-2032)

Monoclonal Antibodies

Infliximab

Rituximab

Trastuzumab

Adalimumab

Others

Granulocyte Colony-Stimulating Factor

Insulin

Erythropoietin

Recombinant Human Growth Hormone

Etanercept

Follitropin

Teriparatide

Interferons

Anticoagulants

Others

Biosimilar End-use Insights: (Revenue, USD Billion; 2019-2032)

Hospitals Pharmacies

Retail Pharmacies

Online Pharmacies

Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

Report Highlights:

Besides offering a vivid depiction of the global Biosimilar business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.

The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).

The report scrutinizes the salient factors influencing the growth of the market in the near future.

The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8 year analysis of the Global Biosimilar Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Browse More Report By Emergen Research:

Biosimilar Market Size @ https://www.emergenresearch.com/industry-report/biosimilar-market/market-size

Biosimilar Market Share @ https://www.emergenresearch.com/industry-report/biosimilar-market/market-share

Biosimilar Market Trends @ https://www.emergenresearch.com/industry-report/biosimilar-market/market-trends

Biosimilar Regional Market Demand @ https://www.emergenresearch.com/industry-report/biosimilar-market/regional-market-demand

Biosimilar Market Analysis @ https://www.emergenresearch.com/industry-report/biosimilar-market/market-analysis

Eric Lee
Emergen Research
+ +91 90210 91709
sales@emergenresearch.com
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