Biosimilars Market Research by Manufacturers, Size, Share, Trends and Growth

Matthew Miles18 Mar, 2024Health

According to the SNS Insider report, the Biosimilars Market attained a valuation of USD 25.10 billion in 2022, with estimations foreseeing significant expansion to reach USD 91.81 billion by 2030. Projections suggest a compound annual growth rate (CAGR) of 17.6% for the forecast period spanning from 2023 to 2030. Primary Drivers Fueling Biosimilars Market Growth: Patent Expirations on High-Cost Biologics: As patents lapse on costly biologics, biosimilars emerge as a cost-efficient alternative, potentially saving healthcare systems billions of dollars. Escalating Healthcare Costs: Global increases in healthcare expenses compel governments and insurers to seek more economical treatment options, with biosimilars offering a viable solution by reducing medication costs.