Biologics has transformed the treatment of severe conditions such as cancer, diabetes, and autoimmune diseases. However, their high costs continue to limit access for many patients globally.
This is where biosimilars come into play. They provide more affordable yet highly effective alternatives once the original biologic's patent expires. These therapies help reduce treatment costs while maintaining comparable safety, quality, and efficacy.
According to BCC Research, the global biosimilars market was valued at $23.8 billion in 2023 and is expected to grow from $28.5 billion in 2024 to $69.2 billion by 2029, with a compound annual growth rate (CAGR) of 19.4%. This growth is being driven by an increasing demand for cost-effective therapies and a wave of patent expirations for biologics.
As healthcare systems worldwide strive to balance innovation with affordability, biosimilars are becoming an essential part of that solution. Here are 10 leading companies that are shaping the future of the global biosimilars market.
Headquarters: New York, USA | Founded: 1849
Pfizer entered the biosimilars market with the strength of its global infrastructure and clinical expertise. The company has launched biosimilars in over 70 countries, featuring key products such as Inflectra (infliximab) and Retacrit (epoetin alfa). Known for its extensive portfolio in oncology, inflammation, and supportive care, Pfizer has made substantial investments in post-marketing surveillance and education to foster physician trust in biosimilars.
Headquarters: California, USA | Founded: 1980
Amgen is a leading global biotechnology company with a robust pipeline of biosimilars. Its approved products include Mvasi (a biosimilar to Avastin), Kanjinti (a biosimilar to Herceptin), and Amgevita (a biosimilar to Humira). Operating in over 100 countries, Amgen has invested billions in the development of biosimilars and continues to expand its global presence in oncology and immunology.