A looming patent cliff threatens to disrupt the pharmaceutical industry, with over $200 billion in annual revenue at risk through 2030. However, this presents a significant opportunity for biosimilar developers to capitalize on the transition to more affordable treatments. Several companies, including Alvotech, Biocon Biologics, Celltrion, Formycon, and Samsung Bioepis, are already making strides in the biosimilar market, with multiple approvals and partnerships in place.
In the next 6 months, we expect to see increased competition in the biosimilar market, with more companies entering the fray and prices decreasing as a result. This will lead to increased adoption of biosimilars by patients and healthcare providers.
Within the next year, we anticipate that the FDA will approve several more biosimilars, including those for key biologics such as Merck’s Keytruda and J&J’s Stelara. This will further accelerate the transition to biosimilars and drive down costs.
Over the next 5 years, we expect the biosimilar market to continue to grow rapidly, with sales reaching $100 billion annually. This will lead to increased investment in biosimilar development and manufacturing, as well as the creation of new jobs and economic opportunities.
In the next 10 years, we foresee the biosimilar market becoming a dominant force in the pharmaceutical industry, with biosimilars accounting for over 50% of all biologic sales. This will lead to significant cost savings for patients and healthcare systems, as well as increased access to life-saving treatments.
