The latest report by IMARC Group, titled “Australia Biosimilar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025–2033”, offers a comprehensive analysis of the biosimilar market's growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The Australia biosimilar market size reached USD 741.6 million in 2024. Looking forward, IMARC Group expects the market to reach USD 5,512.5 million by 2033, exhibiting a growth rate (CAGR) of 22.20% during 2025–2033.Base Year: 2024
Forecast Years: 2025–2033
Historical Years: 2019–2024
Market Size in 2024: USD 741.6 Million
Market Forecast in 2033: USD 5,512.5 Million
Market Growth Rate 2025–2033: 22.20%
Australia Biosimilar Market Overview
Australia's biosimilar market is growing a lot because of helpful government policies, the inclusion of biosimilars in the Pharmaceutical Benefits Scheme (PBS), and more people needing cheaper biologic treatments. The government is pushing for cost-effective biologics, which helps more people get access to better treatments and encourages competition among biosimilar makers. This positive environment is making healthcare providers and patients more willing to use biosimilars, leading to better availability and lower treatment costs across the healthcare system.
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Australia Biosimilar Market Trends and Drivers
The Australian biosimilar market is growing because of strong government support and policies that help cover medicine costs. The government wants to make advanced treatments more affordable, which has helped patients get better care and encouraged more companies to develop biosimilars. A key group in this process is the Pharmaceutical Benefits Advisory Committee (PBAC), which decides which medicines can be subsidized through the Pharmaceutical Benefits Scheme (PBS). This ensures patients get effective and affordable treatments. In May 2024, PBAC approved Amgen’s Wezlana, the first ustekinumab biosimilar, to be added to the PBS list. Wezlana was approved by the Therapeutic Goods Administration (TGA) in January 2024 and is used to treat Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. It offers a cheaper option compared to the original biologic drugs. This approval has helped doctors and healthcare systems start using biosim.
Australia Biosimilar Market Segmentation:
1. By Molecule:
• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Adalimumab
• Pegfilgrastim
• Trastuzumab
• Bevacizumab
• Others
2. By Indication:
• Auto-Immune Diseases
• Blood Disorders
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility
• Others
3. By Manufacturing Type:
• In-house Manufacturing
• Contract Manufacturing