United States Biosimilars Follow on Biologics Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 8.5 Billion by 2030, growing at a CAGR of 12.5% from 2024 to 2030.
The U.S. biosimilars and follow-on biologics market has experienced significant growth in recent years, reshaping the pharmaceutical landscape and offering more affordable treatment options to patients. As of October 2024, the FDA has approved 60 biosimilars, marking a substantial increase in competition for biologic therapies. This surge is attributed to evolving regulations and growing physician confidence in these products. citeturn0search25
One notable development is the introduction of biosimilars for Humira (adalimumab), a leading treatment for autoimmune diseases. Despite initial challenges, including a slower uptake that took nearly 18 months to gain meaningful adoption, biosimilar manufacturers have adapted strategies to navigate the complex market dynamics. citeturn0search2
In the oncology sector, Regeneron's Eylea, a treatment for eye diseases, faces competition from Amgen's biosimilar, Pavblu. A recent court decision denied Regeneron's request to prevent Amgen from launching Pavblu, potentially impacting Eylea's market share, which generated $9.38 billion in 2023. citeturn0news33
Policy changes have also influenced the market. The Biologics Price Competition and Innovation Act of 2009 established an abbreviated approval pathway for biosimilars, aiming to balance innovation with competition. This act has been instrumental in facilitating the entry of biosimilars into the U.S. market. citeturn0search25
However, challenges persist. For instance, AbbVie reported a 49% decline in Humira's quarterly sales, falling to $1.68 billion, as biosimilar competition intensified. In response, AbbVie is focusing on newer immunology drugs like Skyrizi and Rinvoq, projecting combined revenues of over $31 billion by 2027. citeturn0news32
Legal disputes also shape the biosimilars landscape. Amgen's lawsuit against Samsung Bioepis over proposed biosimilars for bone drugs Prolia and Xgeva underscores the ongoing patent battles that can delay biosimilar entry and affect market dynamics. citeturn0news29
Looking ahead, the U.S. biosimilars market is poised for continued growth, with reference brands worth approximately $200 billion expected to lose exclusivity over the next decade. This presents significant opportunities for biosimilar manufacturers and promises substantial cost savings for the healthcare system. citeturn0search2
In my personal experience as a healthcare professional, I've observed that the increasing availability of biosimilars has enhanced patient access to essential therapies. Patients who previously faced financial barriers to biologic treatments now have more affordable options, leading to improved adherence and outcomes. However, it's crucial for healthcare providers to stay informed about the evolving biosimilars market to make evidence-based prescribing decisions that best serve their patients' needs.
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Novartis
Synthon Pharmaceuticals
Teva Pharmaceutical Industries
LG Life Sciences
Celltrion
Biocon
Hospira
Merck Group
Biogen idec
Inc
Genentech (Roche Group)
Novartis
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Biosimilars Follow on Biologics Market
Monoclonal Antibodies
Recombinant Proteins
Fusion Proteins
Vaccines
Cellular and Gene Therapy Products
Cancer
Autoimmune Diseases
Diabetes
Hemophilia
Chronic Inflammatory Diseases
Pharmaceutical Companies
Biotechnology Firms
Contract Manufacturing Organizations (CMOs)
Subcutaneous
Intravenous
Intramuscular
Oral
Physicochemical Properties
Biosafety Profiles
Bioactivity
Immunogenicity
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Biosimilars Follow on Biologics Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Biosimilars Follow on Biologics Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Biosimilars Follow on Biologics Market, By Type
6. US Biosimilars Follow on Biologics Market, By Application
7. US Biosimilars Follow on Biologics Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Biosimilars Follow on Biologics Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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