Biosimilars market to grow 34% at CAGR to 2025, says report

The worth of the global biosimilars market will have risen from its $4.36 billion 2016 value by 34% at compound annual growth rate to nearly $20 billion by 2025, a study has predicted.

Cost-effectiveness of biosimilars and high prevalence of chronic disorders globally are some major factors contributing to market growth, says the Grand View Research report.

Countries where market conditions are most favorable to biosimilars are said to be European nations such as Germany, the UK and France, where a well-developed regulatory framework coupled with the presence of a large number of biopharma companies focussed on price competition has created this healthy situation.