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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, among others, are the major players in the India biosimilar market.
The India biosimilar market size was around INR 2.20 billion in 2023. The market is estimated to grow at a CAGR of 25.20% during the forecast period of 2024-2032, to reach a value of INR 16.6 billion by 2032. As per the analysis by Expert Market Research, the market is estimated to be driven by the growing government health care expenditure and their focus on strengthening the domestic manufacturing of pharmaceutical products.
A biosimilar, also called a subsequent entry biologic (SEB) or follow-on biologic, is a biologic medical product nearly identical to an existing product developed by another company. These approved versions can be produced once the original product's patent expires. Biosimilars offer a more affordable alternative to expensive, critical treatments, making them more accessible to a wider population. They help ensure that essential medications are available in bulk quantities, thereby enhancing the overall availability of crucial therapies.
Increasing government healthcare expenditure is supporting the market growth of the India biosimilar market. According to the World Bank, healthcare expenditure increased from USD 2.86 per capita in 2018 to USD 3.28 in 2021. Further, the “Make in India” Campaign is attracting several FDI’s in India for pharmaceutical manufacturing.
In June 2024, Aurobindo Pharma secured marketing authorization for the trastuzumab biosimilar, used in breast cancer treatment, in India. The company plans to launch the product domestically in the second half of FY25, pending a manufacturing license. Aurobindo has also filed for approval with the European Medicines Agency and is in the process of filing with the USFDA. The biosimilar, developed by Curateq Biologics, demonstrated equivalent efficacy and safety to Herceptin in Phase 3 trials.
Headquarters: | United States |
Establishment: | 1849 |
Website: | www.pfizer.com |
Pfizer Inc. is a research-based leading biopharmaceutical company primarily engaged in discovering, developing, manufacturing, marketing, selling, and distributing biopharmaceutical products worldwide. The company is also listed on the New York Stock Exchange under the symbol NYSE: PFE. The company has a strong global presence with over 83,000 employees, out of which 32,000 are based in the United States. Pfizer operates globally and supplies medicines and vaccines to more than 185 countries and territories.
Headquarters: | United States |
Establishment: | 1876 |
Website: | www.lilly.com |
Eli Lilly and Company is a global conglomerate in pharmaceutical development, biotech, and biopharmaceuticals. The company is based in the USA, with over 44,000 employees worldwide. The company has research and development facilities located in 7 countries, manufacturing plants located in 9 countries and products marketed in approximately 105 countries.
Headquarters: | South Korea |
Establishment: | 1999 |
Website: | www.celltrion.com |
Celltrion is a prominent biopharmaceutical company focused on the research, development, and manufacturing of innovative therapeutics. Committed to providing affordable and advanced medications, they aim to enhance patient access to cutting-edge therapies. Celltrion leads in biotherapeutic development, pioneering new methods to target disease drivers by creating next-generation biologics and small molecule products.
Headquarters: | United States |
Establishment: | 1961 |
Website: | www.viatris.com |
Viatris Inc. is a global healthcare company that bridges the gap between generics and branded medicines to meet global healthcare needs. It is listed on the NASDAQ under the symbol VTRS. Its mission is to empower people to live healthier lives at every stage. In 2022, they provided high-quality medicines to around 1 billion patients worldwide. With a diverse portfolio and a unique global supply chain, Viatris addresses major health challenges with scientific expertise.
Headquarters: | Switzerland |
Establishment: | 1996 |
Website: | www.novartis.com |
Novartis AG is a healthcare company dedicated to the discovery, development, manufacture, and marketing of prescription and generic pharmaceuticals. The company offers treatments for a wide range of conditions, including cancer, cardiovascular and dermatological diseases, neurological and respiratory disorders, ophthalmic conditions, hematologic diseases, solid tumors, immune disorders, and infections. The company has 78 thousand employees and has a presence in over 140 countries.
Headquarters: | South Korea |
Establishment: | 2012 |
Website: | www.samsungbioepis.com |
Samsung Bioepis was founded in 2012. It is a biopharmaceutical company dedicated to making healthcare accessible to all. Through innovative product development and quality commitment, it aims to lead globally. The company has a broad pipeline of biosimilars covering immunology, oncology, and ophthalmology.
Headquarters: | Germany |
Establishment: | 1895 |
Website: | www.stada.com |
STADA, a leading pharmaceutical manufacturer with 125 years of heritage, offers high-quality generics, consumer healthcare products, and speciality pharmaceuticals. The company operates in 120 countries. Its top brands include Zoflora®, Snup®, Nizoral®, and Grippostad®. In 2023, STADA reported EUR 3,734.8 million in sales and employed 11,466 people worldwide.
Headquarters: | Israel |
Establishment: | 1901 |
Website: | www.tevapharm.com |
Teva Pharmaceuticals, with over a century of experience, is a global leader in generic and speciality medicines. Offering 3,500 products across nearly all therapeutic areas, teva serves 200 million people daily. Its extensive supply chain supports a growing portfolio of speciality and biopharmaceutical products.
Headquarters: | India |
Establishment: | 1976 |
Website: | www.intaspharma.com |
Intas is a leading global pharmaceutical company, integrating formulation development, manufacturing, and marketing. Through its subsidiary Accord Healthcare, Intas operates in over 85 countries, expanding its product portfolio through organic growth and acquisitions. It has established a strong presence in key markets like North America and Europe, becoming a recognized global brand.
Headquarters: | United States |
Establishment: | 1981 |
Website: | innovation.lgchem.com |
LG Life Sciences started genetic engineering research in 1981. It has evolved into a prominent player in pharmaceuticals, animal health, and specialty chemicals. The company’s milestones include FDA approval for FACTIVE® in 2003 and advancements like Intermax-gamma, EUVAX B™, and other innovative treatments. It aims to expand globally, focusing on new drug development and strategic alliances.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.