Latest News- Biosimilars Market: Monoclonal antibodies is expected to lead the Product Type segment during 2025-2029

The Biosimilars Market is being driven by Price advantage of biosimilars over biologics

The Biosimilars Market is expected to grow at a CAGR of 34.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 117678.1 million. In the global biosimilar market, patient acceptance and physician prescribing behavior play a pivotal role in market growth. Many physicians, particularly rheumatologists, often prefer prescribing bio-originators over biosimilars as first or second-line therapies for rheumatology-related diseases. The primary reason for this resistance is the perception that biosimilars are less effective than their reference products. At the pharmacy level, biosimilar substitution with bio-originators is permitted in select countries, primarily in Central and Eastern Europe. Despite an increasing number of patients and physicians transitioning to biosimilars, the switch rate remains low due to certain legislative restrictions. Keywords: biosimilar market, patient attitude, physician prescribing, bio-originators, resistance, legislation, transition. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Monoclonal antibodies
  • Insulin
  • Human growth hormone
  • Others
• Application
  • Oncology and hematology
  • Endocrinology
  • Immunology
  • Nephrology
• Manufacturing Type
  • In-house manufacturing
  • Contract manufacturing
• Geography
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Asia
    • China
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Price advantage of biosimilars over biologics
• Patent expiry of major biologics
• Government initiatives to increase use of biosimilar medicines

However, the market also witnesses some limitations, which are as follows:

• Market access barriers for biosimilars
• Supply chain challenges of biosimilars
• Obstacles in giving reimbursement for biosimilars

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Market Scope in Biosimilars Market Research Report

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Research Analysis Overview

The Biosimilars Market encompasses biological therapies for chronic conditions such as autoimmune diseases, utilizing active substances derived from living cells. These include growth hormones, coagulation factors, monoclonal antibodies, among others. The Centralised Procedure ensures pharmaceutical quality through EU scientific experts, addressing clinical experience, immunogenicity profile, and data exclusivity. National health authorities regulate these products at the pharmacy level, with regulatory guidance and pharmacovigilance activities for rheumatic diseases and other indications in European languages.

Market Research Overview

The Biosimilars market encompasses entities involved in the research and development (R&D) or manufacturing of various pharmaceutical offerings, including generic drugs, non-generic drugs, and veterinary drugs. According to Technavio, the global pharmaceuticals industry's size is determined by the consolidated revenue generated by providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors fueling the expansion of the pharmaceuticals sector include the increasing elderly population. By 2050, approximately one-quarter of the US population and Europe's population ratio is projected to be over 60 years old. This demographic shift will escalate the demand for treatments targeting chronic conditions, such as autoimmune diseases, which often require active substances derived from biological sources, including living cells and growth hormones.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/