Biosimilar Hormones Global Market Report 2024

The biosimilar hormones market size has grown exponentially in recent years. It will grow from $3.9 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 27.5%. The growth observed in the historical period can be attributed to several factors. These include the escalating prevalence of chronic diseases requiring hormone treatments, a growing aging population necessitating hormone management, heightened awareness regarding the benefits of biosimilar hormones, and expanded accessibility to healthcare services facilitating their use among a wider demographic. These factors collectively contributed to the growth and adoption of biosimilar hormones during this period.

The biosimilar hormones market size is expected to see exponentially grown in the next few years. It will grow to $11.77 billion in 2028 at a compound annual growth rate (CAGR) of 24.0%. Anticipated growth in the forecast period is expected due to several key factors. These include the expansion of hormone targets for treatment, increasing acceptance of biosimilar hormones among patients, advancements in manufacturing techniques enhancing production efficiency, governmental support, a wealth of growing clinical trial data supporting their efficacy, and wider accessibility to healthcare services.

The biosimilar hormones market is seeing growth due to the prevalence of deficiencies in growth and metabolic hormones. Advancements in treatments for hormone-related conditions have led to increased demand for biosimilar hormones, fueled by the estimated global prevalence of growth hormone deficiency (GHD) in children ranging from 1 in 3500 to 1 in 10000, as reported by the British Medical Journal in January 2022. Additionally, approximately 6,000 adults in the USA are projected to be diagnosed with growth hormone deficiency, underlining the escalating need to address hormonal deficiencies, which drives the market growth for biosimilar hormones.

The expanding prevalence of diabetes is anticipated to be a significant driver of growth in the biosimilar hormones market. Diabetes, a persistent condition affecting energy conversion from food, presents a substantial market opportunity for biosimilar hormones, particularly insulin, as safe and effective alternatives for diabetes management. Biosimilar growth hormone also plays a role in managing diabetes by enhancing blood sugar control in adults with type 1 and type 2 diabetes. The International Diabetes Federation's July 2021 report projects a surge in the global diabetic population to 643 million by 2030 and 783 million by 2045, compared to approximately 537 million adults living with diabetes in 2021. This escalating prevalence of diabetes is set to propel the biosimilar hormones market's growth in the foreseeable future. Key players in the biosimilar hormones market are actively implementing strategic initiatives, such as expanding into untapped regions through new product launches, aiming to increase accessibility and capture wider market segments. Notably, Alvotech Holdings S.A., in February 2022, announced a strategic partnership with Fuji Pharma Co. Ltd., intending to develop biosimilar drug candidates specifically targeted for the Japanese market. This alliance represents a focused effort to create and market biosimilar medicines in Japan, demonstrating a strategic move to enhance market presence and generate higher revenues.

Major companies operating in the biosimilar hormones sector are innovating with new product launches to augment their market profitability. Novo Nordisk's FDA approval in April 2023 for Sogroya (somapacitan-beco) injection marks a significant milestone. Sogroya, designed as a once-weekly growth hormone therapy for children and adults, gained a new indication for treating children aged 2.5 years and older with growth failure due to insufficient endogenous growth hormone secretion. Supported by findings from the phase 3 REAL4 trial, this approval validates Sogroya's efficacy in addressing growth hormone deficiency in pediatric patients, representing a strategic move to strengthen their market position and profitability.

Major companies operating in the biosimilar hormones market include Teva Pharmaceutical Industries Ltd., Gedeon Richter Plc., Intas Pharmaceuticals Ltd., Biocon Limited, Mylan, Sanofi, Sandoz (Novartis), LG Life Sciences, Ferring Pharmaceuticals, GC Pharma, Pfizer Inc., Dr. Reddy's Laboratories, Amgen Inc., Eli Lilly and Company, Celltrion Inc., Samsungbioepis Co.Ltd., Merck & Co., Biogen Inc., Boehringer Ingelheim, Coherus BioSciences Inc., Alvotech, BioXpress Therapeutics, Cipla Limited, Lupin Ltd., Stada Arzneimittel AG, Torrent Pharmaceuticals, Zydus Cadila, Accord Healthcare, Hetero Drugs, Wockhardt.

North America was the largest region in the biosimilar hormones market in 2023. The regions covered in the biosimilar hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the biosimilar hormones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The biosimilar hormones market consists of sales of estrace, estradil, and estring. Values in this market are 'factory gate values,' that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary categories of biosimilar hormones encompass teriparatide biosimilars, follitropin alfa biosimilars, insulin biosimilars, somatropin biosimilars, among others. Teriparatide, for instance, is a recombinant form of parathyroid hormone (PTH). It functions similarly to a component of human PTH and, when administered regularly, stimulates osteoblasts more than osteoclasts, thereby enhancing bone mass. These hormones find diverse applications in research and biotechnology, diagnostics, biocatalysts, therapeutics, and various other fields. They are made available through multiple distribution channels, including hospital and retail pharmacies, online pharmacies or e-pharmacy platforms, as well as specialty clinics, catering to different healthcare needs and preferences.

The biosimilar hormones market research report is one of a series of new reports provides biosimilar hormones market statistics, including biosimilar hormones industry global market size, regional shares, competitors with a biosimilar hormones market share, detailed biosimilar hormones market segments, market trends and opportunities, and any further data you may need to thrive in the biosimilar hormones industry. The biosimilar hormones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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