IQVIA Predicts US Spending on Biosimilars Will Reach $129 Billion by 2027

March 2023, Vol 13, No 3

Anticipated launches and uptake of biosimilars are predicted to increase spending to $129 billion and savings by $180 billion over the next 5 years, according to a report by IQVIA titled “Biosimilars in the United States 2023-2027.”1

The report, which can be downloaded at no cost from the company’s website, evaluates the current state of the biologics market in the United States and share of the market facing biosimilar competition. The authors of the report also explore factors influencing biosimilar uptake—including reimbursement and provider type—as well as the impact of biosimilars on molecule volume and price. In addition, historic biosimilar trends are used to provide potential future biosimilar spending and savings scenarios.

Key findings from the report, which was released on January 23, 2023, include the following:

  • On average, the US biologics market has grown 12.5% annually over the past 5 years on an invoice-price basis, faster than nonbiologics, and now comprises 46% of spending.
  • Molecules currently facing biosimilar competition total $38 billion of invoice spending, whereas a further $96 billion is the target of biosimilars that are in development or have received approval but have not launched yet.
  • Recent biosimilars have achieved high-volume shares, reaching greater than 60% of the molecule’s volume within the first 3 years. Non-340B clinics have seen higher uptake of biosimilars than 340B clinics, which is most likely due to reimbursement dynamics.
  • The introduction of biosimilars often leads to higher utilization of the molecule as lower costs offer increased access to patients. However, more innovative alternative treatments may lead to volume declines as patients are moved to these successive generation products.
  • Expected launches and uptake are likely to increase overall spending on biosimilars significantly to $20 to $49 billion in 2027 and cumulative sales of $129 billion over the next 5 years, with at least 10 molecules facing biosimilar competition over the period.

In a press release, Craig Burton, Senior Vice President, Policy & Strategic Alliances, Association for Accessible Medicines, and Executive Director of the Biosimilars Council, a division of the Association for Accessible Medicines, explained why the findings from this report are so important for patients with cancer.

“Today’s IQVIA report comes at the same time as launch of the first of at least 8 lower priced biosimilar versions of Humira. Together, they highlight the opportunity to reduce patient spending through more affordable biosimilars as well as the need to address perverse market incentives under which PBMs prefer higher-priced medicines. The report highlights the resiliency of the biosimilars market and proves once more that patient access to biosimilar medicines expands access and yields remarkable savings. To maximize savings through biosimilar adoption, policymakers should take swift action to eliminate these barriers and expand patient access to lower-priced biosimilars.”2


  1. IQVIA. Biosimilars in the United States 2023-2027: competition, savings, and sustainability. Accessed January 31, 2023.
  2. Biosimilars Council. New IQVIA report: biosimilars driving lower prices and greater savings. January 31, 2023. Accessed January 31, 2023.

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