The biosimilars market is projected to nearly double — here's where the growth is coming from

Biosimilars are on just about everyone's radar, and if recent market projections come to fruition, that is going to be truer than it ever has been. MarketsandMarkets projects the biosimilars market will be worth $70.79 billion by 2036, up from its 2026 value of $37.39 billion. That means in just 10 short years, the industry's value will nearly double, with a compound annual growth rate (CAGR) of 6.6%.

The analysis indicates that there are several potential standout growth trends in the market:

• North America is projected to be the fastest-growing regional market, with an impressive 11.5% CAGR increase during that forecasted 10-year span. Europe still holds the largest share as of 2025 — a legacy of 20 years of EMA regulatory experience since 2006 — but the U.S. is rapidly closing that gap. In late July, the House Energy and Commerce Committee and Senate HELP Committee advanced two bipartisan bills, the Biosimilar Red Tape Elimination Act and the Expedited Access to Biosimilars Act, both aimed at cutting redundant clinical-study requirements and speeding interchangeability designations. Meanwhile, a UCLA study of 14,655 cancer patients treated with Avastin, Rituxan, Herceptin and their biosimilars from 2020 to 2023 found payers saved $3,820 per patient per month ($8,959 versus $12,779), while patients saved $39.50 per month out of pocket ($118.90 versus $158.40) — real savings for pharmacy benefit managers (PBMs) and patients alike.
• Oncology segments are predicted to grow at the highest rate for indications. Considering oncology biologics like Avastin, Herceptin and Rituxan are among the most expensive drugs on the market, both PBMs and patients stand to gain the most from the healthy competition — and that competition is already showing up in pricing: brand-name prices fell 3.8% annually after biosimilar entry, while biosimilar prices themselves dropped 12.4% annually, according to the same UCLA analysis.
• Monoclonal antibodies — including adalimumab and infliximab alongside oncology treatments like trastuzumab — will likely grow at the highest rate. Due to their complex nature, the increase in biosimilars will help unlock oncology and autoimmune savings simultaneously, aided by manufacturers ramping up capacity: Sandoz alone has committed $1.1 billion through 2029 to expand biosimilar manufacturing.Biosimilars are on just about everyone's radar, and if recent market projections come to fruition, that is going to be truer than it ever has been. MarketsandMarkets projects the biosimilars market will be worth $70.79 billion by 2036, up from its 2026 value of $37.39 billion. That means in just 10 short years, the industry's value will nearly double, with a compound annual growth rate (CAGR) of 6.6%.

Where is the biosimilar market growth coming from?

This development has several factors contributing to it. Patents on major biologics are increasingly expiring, which in turn opens the door to competition. Physicians, payers and patients are growing more comfortable with biosimilar therapies, making adoption a growing trend. Plus, rising rates of chronic diseases like cancer, autoimmune disorders and diabetes are expanding the pool of patients, creating a need for more cost-effective treatments to ease the burden on healthcare systems.

For suppliers, faster regulatory pathways, more interchangeable biosimilars, and increasing manufacturer competition are helping to speed up development. That competition is intensifying through consolidation, too — Sun Pharma's $11.75 billion acquisition of Organon and Amneal's $750 million purchase of Kashiv BioSciences both closed this year. Expansion into emerging markets is widening global reach as well.

Though there are concerns about rapid growth regarding legal implications — such as unaddressed structural barriers like patent thickets, PBM rebate practices, and reimbursement rules — the data suggest the fundamentals are sound: biosimilar prices are falling faster than brand prices, payers and patients are both saving money, and Congress is moving, however incrementally, to clear the regulatory path. In terms of cost-saving efficacy, the future is looking bright for biosimilars.