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India Biosimilar Market Size, Share, Trends, Growth, Report: By Product Class: Monoclonal Antibodies, Recombinant Hormones, Immunomodulators, Anti-Inflammatory Agents, Other Product Classes; By Manufacturing Type: In-House Manufacturing, Contract Manufacturing; By Applications; Blood Disorders, Others; Suppliers Landscape; 2024-2032
India Biosimilar Market Outlook
The India biosimilar market size was valued at INR 2.20 billion in 2023, driven by the rising prevalence of chronic diseases across the region. The market is expected to grow at a CAGR of 25.20% during the forecast period of 2024-2032, with the values likely to rise from INR 2.8 billion in 2024 to INR 16.6 billion by 2032.
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Biosimilar: Introduction
A biosimilar is a biologic medical product that is almost identical to an original product launched by a different company. They are also known as subsequent entry biologics (SEBs) or follow-on biologics. These are the approved versions of innovator products and can be manufactured when the patent of the original product expires. Biosimilars can make several expensive and critical treatments more accessible to more people as they may be more affordable or be available in bulk quantities.
India Biosimilar Market Analysis
With the rising incidence of chronic diseases, the India biosimilar market demand has grown. As a result, there have been several significant initiatives from the private and state-owned organizations to mitigate the rising burden of morbidities.
The region is gaining significant pharmaceutical attention to meet the high demand and it is heavily impacted by the rising investments to build the medical infrastructure and offer rapid, accurate and affordable outcomes to the patients. Dr. Reddy’s Laboratories, a prominent pharmaceutical player in the region, has identified the biosimilar segment as a key priority area. This indicates the ongoing trend of rising emphasis on the area.
To push the production and application of biosimilars, the government has also eased out on stringent regulations and encouraging tie-ups between foreign and indigenous companies. In July 2023, India’s Biocon Biologics launched a biosimilar version of AbbVie’s rheumatoid arthritis drug Humira in the United States.
Biocon Biologics has also received the marketing authorization for Yesafili, an ophthalmology product which is a biosimilar to the reference product Eylea (Aflibercept) from the UK's Medicines and Healthcare products Regulatory Agency (MHRA). As a result, the India biosimilar market share is expected to have a significant global impact in coming years as well.
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India Biosimilar Market Segmentation
Market Breakup by Product Class
- Monoclonal Antibodies
- Recombinant Hormones
- Immunomodulators
- Anti-Inflammatory Agents
- Other Product Classes
Market Breakup by Manufacturing Type
- In-House Manufacturing
- Contract Manufacturing
Market Breakup by Applications
- Blood Disorders
- Growth Hormonal Deficiency
- Chronic and Autoimmune Disorders
- Oncology
- Other Applications
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India Biosimilar Market Overview
The growing demand for biosimilars due to their cost-effectiveness has been aiding the industry growth. The market is finding further impetus for its growth in the several cost-saving initiatives undertaken by governments as well as third-party payers, which, as a result, are encouraging the use of biosimilars as opposed to branded biologics, thereby propelling the demand for biosimilars.
Acknowledging the need for pharma innovation in the country, the pharmaceutical department proposed a PRIP (Promotion of Research and Innovation in Pharma MedTech Sector) scheme in August 2023. This scheme outlays a budget of INR 5000 crores and is entirely focused on strengthening the research infrastructure in the country. Such initiatives are further projected to add to the India biosimilars market value.
However, some factors, such as negative perception from physicians, lower price differential as compared to small-molecule generics, patent extensions, and others, are hampering the growth of the market in India.
India overtaking China to become the most populous country in the world has also accelerated the India biosimilars market growth further. The growing geriatric population within the region has become an area of concern for the government. The patents of numerous biologic drugs have expired, and some of the blockbuster drugs are further expected to have their patent protection expire in the upcoming years, thus, offering tremendous market opportunities for biosimilar manufacturers in India in the forecast period.
India Biosimilar Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Pfizer Inc.
- Eli Lilly and Company
- Celltrion Healthcare
- Viatris Inc. (Mylan)
- Novartis AG
- Samsung Bioepis Co. Ltd.
- Stada Arzneimittel AG
- Teva Pharmaceutical Industries Ltd.
- Intas Pharmaceutical Ltd.
- LG Life Sciences Inc.
- Biocon Limited
- Amgen Inc.
- Dr. Reddy's Laboratories
- Coherus Biosciences Inc.
- Biocad
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Class |
|
| Breakup by Manufacturing Type |
|
| Breakup by Applications |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 India Biosimilar Market Overview
3.1 India Biosimilar Market Historical Value (2017-2023)
3.2 India Biosimilar Market Forecast Value (2024-2032)
4 India Biosimilar Market Landscape
4.1 India Biosimilar Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 India Biosimilar Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Manufacturing Type
4.2.3 Analysis by Applications
5 India Biosimilar Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 India Biosimilar Market Segmentation
6.1 India Biosimilar Market by Product Class
6.1.1 Market Overview
6.1.2 Monoclonal Antibodies
6.1.3 Recombinant Hormones
6.1.4 Immunomodulators
6.1.5 Anti-Inflammatory Agents
6.1.6 Other Product Classes
6.2 India Biosimilar Market by Manufacturing Type
6.2.1 Market Overview
6.2.2 In-House Manufacturing
6.2.3 Contract Manufacturing
6.3 India Biosimilar Market by Applications
6.3.1 Market Overview
6.3.2 Blood Disorders
6.3.3 Growth Hormonal Deficiency
6.3.4 Chronic and Autoimmune Disorders
6.3.5 Oncology
6.3.6 Other Applications
7 Patent Analysis
7.1 Analysis by Type of Patent
7.2 Analysis by Publication year
7.3 Analysis by Issuing Authority
7.4 Analysis by Patent Age
7.5 Analysis by CPC Analysis
7.6 Analysis by Patent Valuation
7.7 Analysis by Key Players
8 Grants Analysis
8.1 Analysis by year
8.2 Analysis by Amount Awarded
8.3 Analysis by Issuing Authority
8.4 Analysis by Grant Application
8.5 Analysis by Funding Institute
8.6 Analysis by NIH Departments
8.7 Analysis by Recipient Organization
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
11 Suppliers Landscape
11.1 Pfizer Inc.
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 Eli Lilly and Company
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 Celltrion Healthcare
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 Viatris Inc. (Mylan)
11.4.1 Financial Analysis
11.4.2 Product Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Novartis AG
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Samsung Bioepis Co. Ltd.
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 Stada Arzneimittel AG
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 Teva Pharmaceutical Industries Ltd.
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Intas Pharmaceutical Ltd.
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 LG Life Sciences Inc.
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 Biocon Limited
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Amgen Inc.
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
11.13 Dr. Reddy's Laboratories
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.13.5 Certifications
11.14 Coherus Biosciences Inc.
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.14.5 Certifications
11.15 Biocad
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
11.15.5 Certifications
12 India Biosimilar Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about INR 2.20 billion in 2023, driven by rising activities and strategic partnerships and the evolving regulatory landscape.
The market is anticipated to grow at a CAGR of 25.20% during the forecast period of 2024-2032, likely to reach a market value of INR 16.6 billion by 2032.
The market demand has increased with the high prevalence of chronic diseases in the continuously rising geriatric population, along with a rise in research and development and overall expansion of the healthcare sector.
The current market trend revolves around the emergence of new biosimilars in the market. For instance, in July 2023, India’s Biocon Biologics launched a biosimilar version of AbbVie’s rheumatoid arthritis drug Humira.
The major applications include blood disorders, growth hormonal deficiency, chronic and autoimmune disorders, oncology, and other applications.
Product class includes monoclonal antibodies, recombinant hormones, immunomodulators, and anti-inflammatory agents, among other product classes.
The significant manufacturing types include in-house manufacturing and contract manufacturing.
Key players involved in the market are Pfizer Inc., Eli Lilly and Company, Celltrion Healthcare, Viatris Inc. (Mylan), Novartis AG, Samsung Bioepis Co. Ltd., Stada Arzneimittel AG, Teva Pharmaceutical Industries Ltd., Intas Pharmaceutical Ltd., LG Life Sciences Inc., Biocon Limited, Amgen Inc., Dr. Reddy's Laboratories, Coherus Biosciences Inc. and Biocad.
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