Biosimilars Market Growth, Key Players, and Key Drivers
The global biosimilars market is projected to experience significant growth, with its size expected to increase from USD 34.75 billion in 2024 to approximately USD 175.79 billion by 2034. This growth is driven by factors such as the rising prevalence of cancer and the cost-effectiveness of biosimilars, which are expected to grow at a compound annual growth rate (CAGR) of 17.6% from 2025 to 2034.
Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5035
Biosimilars Market Trends
The biosimilars market has been experiencing notable trends as it continues to evolve and gain traction globally. Here are some of the key developments shaping the market:
- Regulatory Advancements: Recent regulatory approvals and certifications have paved the way for enhanced production capabilities. For instance, in November 2024, Aurobindo Pharma Limited’s subsidiary, CuraTeQ Biologics, received the GMP certification from the European Medicines Agency (EMA) for its biosimilar manufacturing facility. This ensures that high-quality biosimilars will be produced to meet the growing global demand.
- Collaborations and Partnerships: Strategic partnerships among major pharmaceutical companies are becoming more prevalent. In August 2024, Biocon Biologics partnered with Janssen to introduce a biosimilar for autoimmune disease treatment in several regions, including Europe, the U.S., Canada, and Japan. This trend reflects the increasing focus on creating cost-effective treatments for patients worldwide.
- Oncology Focus: Oncology biosimilars are a major focus of development. In October 2024, Teva Pharmaceuticals and mAbxience expanded their collaboration to develop an anti-PD1 oncology biosimilar. This signifies the growing attention toward cancer therapies, as biosimilars offer a more affordable alternative to original biologics.
- Cost-Efficiency and Affordability: One of the most significant drivers of biosimilars’ adoption is their cost-effectiveness compared to branded biologics. With rising healthcare costs, biosimilars provide a more affordable option, making life-saving treatments accessible to a larger patient population, particularly in oncology and autoimmune diseases.
- Geographic Expansion: As regulatory frameworks become more established globally, biosimilars are increasingly being launched in new regions. The ongoing expansion of manufacturing facilities, such as Aurobindo Pharma’s, will ensure wider availability of biosimilars, contributing to market growth.
The Impact of AI on the Biosimilar Market
Artificial Intelligence (AI) is transforming the development of biosimilars by improving the efficiency and quality of research and production processes. AI plays a crucial role in helping scientists better understand the complex structures of proteins, making it easier to develop biosimilars that are as effective as their reference biologics.
AI and machine learning (ML) algorithms can analyze the properties of biosimilars, ensuring that the drug is both safe and effective. Convolutional neural networks, for example, help monitor the physical characteristics of particles in biosimilars, ensuring consistency and quality throughout the production process.
In addition to enhancing the accuracy of biosimilar development, AI also optimizes manufacturing processes by reducing human errors and improving operational efficiency. Predictive analytics powered by AI can anticipate potential production or supply chain issues, allowing for better planning, streamlined logistics, and reduced costs.
Furthermore, AI tools like ML and deep learning can process vast amounts of data from preclinical and clinical studies, enabling faster and more accurate decision-making in the development of biosimilars. This combination of technology and research is not only accelerating biosimilar production but also making it more reliable and cost-effective.
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/biosimilars-market
Access exclusive insight now @ https://www.towardshealthcare.com/price/5035
We’ve prepared a service to support you. Please feel free to contact us at sales@towardshealthcare.com
Web: https://www.towardshealthcare.com
Visit Dental Specifics: https://www.towardsdental.com
Get the latest insights on industry segmentation with our Annual Membership: Get a Subscription
For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare
