Global biosimilar
& biologic market

Biologic medicines have reached €8.4 billion, and represent 9% of the total biologics market in 2020.¹
2020 reflects upon the historic learnings, current progress, and future potential of biosimilar competition in this emergent market.¹

The biosimilar market is set to continue its double-digit growth, doubling in size to more than $30 billion by 2025, and over $60 billion by the end of the decade (Figure1).²

Currently, the EMA has authorized more than 60 biosimilar medicines.³ The FDA has approved more than 29 biosimilar medicines up to date.⁴

Global savings

The global pharmaceutical market will exceed $1.5 trillion by 2023 growing at a 3–6% compound annual growth rates over the next five years.⁵

By 2023, the part of the biologic market with competition from biosimilars will be nearly 3 times larger than it is today, and the presence of that competition will result in nearly $160 billion in lower spending over the next five years, or about 10% of the cumulative spending that would have been in that period. ⁵

Bibliography:

1. IQVIA. The Impact of Biosimilar Competition in Europe. December 2020.
2. Mckinsey. An inflection point for biosimilars. June 2021 https://www.mckinsey.com/industries/pharmaceuticals-and-medical-products/our-insights/an-inflection-point-for-biosimilars
3. European Medicines Agency. February 2021 Available on: https://www.ema.europa.eu/en/medicines/download-medicine-data
4. Food and Drug Administration. Purple Book. Lists of licensed biological products. January 2021. Available on: https://www.fda.gov/drugs/developmentapprovalprocess/howdrugsaredevelopedandapproved/approvalapplications/therapeuticbiologicapplications/biosimilars/ucm411418.htm.
5. IQVIA Institute. The Global Use of Medicine in 2019 and Outlook to 2023. January 2019.