By Rahul Koul
“ Patent expiry of significant number of biologics by 2030 presents huge opportunities for biosimilars players”
In an exclusive interview, Dr Cyrus Karkaria, President- Biotechnology, Lupin Limited shares his views on the current market trends and growth prospects of Indian biosimilars industry, company’ s key offerings, ongoing initiatives, and future plans
BioTech
By Rahul Koul
Your views on the current state and trends of India ' s biosimilars industry, and how can it capitalize on emerging opportunities?
India ' s biosimilars industry is currently experiencing significant growth and transformation. The biosimilars market was valued at approximately $ 2.2 billion in 2024 and is expected to grow at a compound annual growth rate( CAGR) of 25.2 %, reaching around $ 16.6 billion by 2034. This growth rate is higher than many other countries, driven by India ' s cost-effective manufacturing capabilities and strong domestic demand. The country has over 95 approved biosimilars in its domestic market, more than any other country. This high number reflects the country ' s robust pipeline and active development efforts.
The biosimilars market is highly competitive, with many players vying for market share. Market leading pharmaceutical companies, including Lupin are spearheading the change in
BIOVOICENEWS. COM 25