The India biosimilar market size was valued at INR 2.20 billion in 2024, 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 2025-2034, with the values likely to rise from INR 2.8 billion in 2025 to INR 16.6 billion by 2034.
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India Biosimilar Market Overview
The Indian biosimilar market is witnessing significant growth, fueled by increasing healthcare demands and the prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. Biosimilars, which are biologic medical products highly similar to already approved reference biologics, have gained traction due to their cost-effectiveness and broader accessibility. The country’s expanding healthcare infrastructure and government initiatives further propel the growth of the biosimilar market.
Biosimilars are particularly important in India as they offer a more affordable alternative to biologic therapies. The Indian pharmaceutical industry is known for its generic drug production capabilities, and this expertise is now being leveraged to produce high-quality biosimilars. With the government’s push for healthcare reform and regulatory approval frameworks supporting the growth of biosimilars, India is poised to become a leading global player in the biosimilars market.
India Biosimilar Market Dynamics
Several factors are driving the India biosimilar market, including:
Rising Chronic Disease Burden: The increasing incidence of chronic diseases, such as cancer, rheumatoid arthritis, diabetes, and cardiovascular conditions, is a major factor driving the demand for biosimilars in India. These conditions often require long-term treatment with biologic drugs, and biosimilars provide a more cost-effective alternative.
Cost Efficiency: The affordability of biosimilars compared to reference biologics is one of the most important drivers of the market. As healthcare costs continue to rise, both patients and healthcare providers are seeking more affordable treatment options. Biosimilars can help reduce the financial burden on healthcare systems and patients.
Government Initiatives: The Indian government has taken significant steps to support the growth of the biosimilar market. This includes creating favorable regulatory frameworks for biosimilars, promoting RD in biotechnology, and offering incentives to pharmaceutical companies involved in biosimilar development.
Technological Advancements: Advances in biotechnology and manufacturing processes have made the production of biosimilars more efficient and cost-effective. Innovations in cell line development, purification methods, and bioreactor systems are contributing to the lower production costs of biosimilars.
Aging Population: India’s aging population is another key factor contributing to the demand for biosimilars. As people live longer, they are more likely to develop chronic diseases, which in turn increases the need for long-term medical treatment.
External India Biosimilar Market Trends
The biosimilar market in India is also being shaped by several external trends:
Global Expansion of Biosimilar Acceptance: As biosimilars gain acceptance in international markets, Indian biosimilar manufacturers are positioning themselves to cater to these growing opportunities. Many Indian pharmaceutical companies are expanding their reach to Europe, the US, and other key markets, which has resulted in increased competition and investment in biosimilar production.
Strategic Collaborations and Partnerships: Indian biosimilar companies are increasingly forming partnerships with multinational corporations to enhance their RD capabilities, improve their manufacturing processes, and gain access to global markets. These collaborations are helping Indian firms improve the quality of their biosimilars and expand their market reach.
Regulatory Developments: The Indian government and regulatory bodies such as the Central Drugs Standard Control Organization (CDSCO) have been working to streamline the approval process for biosimilars. The regulatory framework is evolving to ensure that biosimilars are held to high safety and efficacy standards, which increases their credibility in the market.
India Biosimilar Market Segmentation
The India biosimilar market can be segmented based on product type, therapeutic area, and distribution channel.
By Product Type:
Monoclonal Antibodies (mAbs)
Recombinant Proteins
Insulin
Vaccines
Growth Hormones
By Therapeutic Area:
Oncology
Diabetes
Rheumatoid Arthritis
Cardiovascular Diseases
Autoimmune Diseases
By Distribution Channel:
Hospitals
Pharmacies
Online Pharmacies
India Biosimilar Market Growth
India’s biosimilar market is expected to grow substantially in the coming years. The country has the potential to become a major global hub for biosimilar manufacturing due to its established pharmaceutical infrastructure and skilled workforce. With the government’s push for biotechnology research and the increasing demand for affordable biologics, the market is on track to expand rapidly.
Recent reports indicate that the biosimilar market in India is experiencing a shift toward more complex biologics and higher-value therapies. This trend is expected to contribute to significant market growth during the forecast period.
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Recent Developments in the India Biosimilar Market
Approval of New Biosimilars: In recent years, the Indian biosimilar market has witnessed the approval of several new biosimilars, especially in oncology and autoimmune disease treatment. These approvals are expected to drive market growth further.
Increase in Investments: There has been a surge in investments from both domestic and foreign companies in the Indian biosimilar space. This influx of capital is helping accelerate research and development, as well as improving manufacturing capabilities.
Improved Access to Biosimilars: The Indian government has introduced measures to increase the accessibility of biosimilars for patients. These measures include price caps on certain biosimilars, the establishment of biosimilar procurement programs, and the promotion of biosimilar adoption in both public and private healthcare settings.
India Biosimilar Market Scope
The scope of the India biosimilar market is broad and includes a wide range of biologic medicines and therapeutic areas. India’s biosimilar sector holds immense potential for growth, both in terms of domestic consumption and international expansion. The market is expected to play a key role in providing affordable biologic drugs to a population of over 1.4 billion people while also contributing to global healthcare markets.
India Biosimilar Market Analysis
The biosimilar market in India is poised for substantial growth in the coming decade. Key players in the market are investing heavily in research and development, while the government is working to improve the regulatory landscape for biosimilars. These factors, combined with rising healthcare needs and the increasing adoption of biosimilars, will drive market expansion.
Impact of COVID-19 on the India Biosimilar Market
The COVID-19 pandemic had a significant impact on the biosimilar market in India. Disruptions in supply chains, delays in clinical trials, and increased focus on COVID-19 treatments temporarily slowed the growth of the biosimilar market. However, the pandemic also highlighted the importance of affordable and accessible healthcare, leading to renewed interest in biosimilars.
Key Players in the India Biosimilar Market
Pfizer Inc. Pfizer is a key player in the Indian biosimilar market, with a strong portfolio of biosimilars in oncology, immunology, and other therapeutic areas.
Eli Lilly and Company Eli Lilly is another major player, with a focus on diabetes and oncology biosimilars.
Celltrion Healthcare Celltrion has been a significant player in the biosimilar space, with a focus on monoclonal antibodies and oncology biosimilars.
FAQs
What are biosimilars?
Biosimilars are biologic medical products highly similar to an already approved reference biologic, with no clinically significant differences in terms of safety and efficacy.
Why are biosimilars important?
Biosimilars are important because they offer a cost-effective alternative to expensive biologic therapies, making treatment more affordable and accessible for patients.
What factors are driving the growth of the India biosimilar market?
Key factors driving growth include the rising prevalence of chronic diseases, government initiatives, cost efficiency, and technological advancements in biotechnology.
Who are the key players in the India biosimilar market?
Key players include Pfizer Inc., Eli Lilly and Company, and Celltrion Healthcare.
What is the future outlook for the India biosimilar market?
The India biosimilar market is expected to grow at a CAGR of 25.20% from 2025 to 2034, with values rising from INR 2.8 billion in 2025 to INR 16.6 billion by 2034.
