2024 Global Biosimilars Report 

Download our 2024 Global Biosimilars Report for an assessment of trends in the global biosimilar market, with an emphasis on market and competitive dynamics in the US and Europe.

Key Highlights:

• Biosimilar launches have become increasingly successful, with recent products achieving nearly 70% market share by volume within two years of launch.
• The US and EU, supported by biosimilar-friendly regulations such as the US Inflation Reduction Act and interchangeability guidelines, dominate the global market, accounting for over 80% of market share.
• Strategic partnerships and mergers and acquisitions have significantly shaped the biosimilar industry, with deal activity peaking in 2021 and 2022. Generic drug manufacturers are playing a larger role, signaling their growing interest in biosimilars.
• The global biosimilars market is expanding rapidly, driven by patent expirations of major biologics and the increasing need for cost-effective alternatives. Notably, 15 of the top marketed biologics without approved biosimilars—accounting for about $150 billion in global sales in 2023—are set to lose patent protection by 2033, creating a sizeable market opportunity for biosimilars. We project the biosimilar market to grow at a CAGR of 19% to reach $64 billion by 2028.