Global Market for Biosimilars Expected To Explode

It will nearly quadruple within the next five years, according to a new report, though concerns about how they’re manufactured remain.

The U.S. may be a little wary when it comes to approving biosimilars, but the rest of the world seems to have jumped in with both feet. The global market for biosimilars will grow from $5.95 billion this year to $23.63 billion by 2023, according to a report by ResearchAndMarkets. The reason is simple enough, they’re less costly than the reference biologic, but concerns remain about regulatory guidelines concerning how biosimilars should be manufactured.

The report states that the non-glycosylated proteins portion of the market accounted for the biggest share in 2017, but recombinant glycosylated proteins are expected to hold the largest share in the near future.

Sources: Business Wire; MedCity News