Biosimilars Market Size

Biosimilars Market size was valued at USD 27.11 billion in 2024 and is expected to exceed USD 415.92 billion by the end of 2037, registering over 23.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of biosimilars is evaluated at USD 32.16 billion..

The growth of the market can primarily be attributed to the growing spending on biologics worldwide. Moreover, biologics are medications generated from live organisms that are used to treat a variety of ailments, including cancer, autoimmune disorders, and inflammations. They are often more expensive than ordinary small-molecule medications and can consume a sizable percentage of healthcare spending. It was found that, in Europe, biologics represented almost 34% of medicine spending at list prices, comprising small molecules, biologics, and biosimilar competitors.

Biosimilars help increase access to healthcare for many as it is responsible for the reduction in the healthcare costs associated with the use of biologics. Since biosimilar drugs are a very similar copies of their reference biologics, they require much less research and development for equal efficacy and safety than their reference biologics. The recent approvals of biosimilar drugs are expected to reduce the spending on biologics, resulting in the demand for biosimilars among healthcare service providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global biosimilars market during the forecast period. It is estimated that biosimilars are expected to reduce direct spending on biologic drugs in the United States by USD 54 billion from 2017 to 2026, or around 3% of the total estimated biologic spending over the same period.