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 |