The global biologics and biosimilars market is on a robust growth trajectory, driven by the rising demand for advanced therapies, the increasing prevalence of chronic diseases, and growing investments in research and development.

According to a report by Wise Guy Reports, the market is expected to reach approximately USD 600 billion by 2032, expanding at a compound annual growth rate (CAGR) of around 6.33 percent during the forecast period. The market value was estimated at USD 366.98 billion in 2024 and USD 345.13 billion in 2023.

The report highlights the growing incidence of chronic illnesses such as cancer, diabetes, and autoimmune disorders, which is fueling the demand for more effective treatment options.

“Biologics and biosimilars represent groundbreaking advancements in therapeutic interventions, offering targeted and personalised treatment strategies that improve patient outcomes,” the report noted.

North America dominates the global market, with a valuation of USD 145 billion in 2024, projected to climb to USD 240 billion by 2032. This leadership is supported by advanced healthcare infrastructure and robust regulatory frameworks.

Europe follows with a market value of USD 100 billion in 2024, expected to reach USD 170 billion by 2032.

Asia-Pacific (APAC) continues to emerge as a key growth hub, with the market estimated at USD 75 billion in 2024 and anticipated to reach USD 130 billion by 2032, fueled by increasing investments and a rising patient pool.

South America is forecast to grow moderately, from USD 30 billion in 2024 to USD 43 billion by 2032, while the Middle East and Africa (MEA) region remains the smallest market segment, with marginal growth from USD 16.9 billion in 2024 to USD 17 billion by 2032.

Key players in the global biologics and biosimilars market include Roche, Sandoz, Pfizer, Mylan, Novartis, Bristol-Myers Squibb, Celltrion, Eisai, AbbVie, Biocon, Boehringer Ingelheim, Samsung Biologics, Merck and Co, Amgen and Teva Pharmaceutical Industries.