23 Jul, 2026
Straits Research released its highly anticipated report, “Global Biosimilars Market Size & Outlook, 2026-2034”. According to Straits Research, the global biosimilars market size was valued at $37.73 billion in 2025 and is projected to grow from $42.66 billion in 2026 to $116.90 billion by 2034, at a CAGR of 13.43% during the forecast period 2026–2034.
The market growth is attributed to the government-led cost containment and access strategies. Proactive government policies, such as the National Volume-Based Procurement policy for insulin in China, strategically link the purchasing volumes to competitive pricing, differentiate price cuts between the brand-name and biosimilar products, which further boosts the domestic manufacturing capacity, and create a suitable framework for affordable diabetes management. Similarly, in Singapore, value-driven healthcare initiatives in public institutions have fuelled high adoption rates of biosimilars through reduced treatment costs, generating significant system-wide savings. Moreover, collaborative initiatives at the international level present a significant market opportunity as it enhance the growth of the biosimilar sector via early and easy availability of the products in the market. For example, the Biosimilar Work Sharing Initiative (BSWSI) is an initiative from the Access Consortium for the assessment of biosimilar applications. This access consortium includes countries such as Canada, the UK, Australia, Switzerland, and Singapore. Such an initiative creates market opportunity by enabling companies to secure approvals in multiple countries through a single application, which further facilitates faster access of biosimilars to patients by avoiding repetitive review processes.
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