Matej Mikulic
Research expert covering health, pharma & medtech
Generics and biosimilars in the U.S. - Statistics & Facts
The global generics market was valued at around $425 billion in 2023 and is projected to grow to close to $700 billion by 2033, driven not by innovation cycles but by the systematic expiry of brand exclusivity and rising cost pressure across healthcare systems. Biosimilars are expanding even faster in relative terms, with North America accounting for the largest regional share of the global market. This scale reflects a structural logic: generics and biosimilars function as the primary mechanism through which cost savings are generated for payers and patients, directly at the expense of originator revenues. The U.S. sits at the center of this dynamic, though not as a straightforward cost-containment story. Per capita pharmaceutical spending is at over 1,200 U.S. dollars, significantly higher than in comparable high-income countries. High originator prices help fund pharmaceutical R&D, while generics and biosimilars act as the main release valve for those costs once exclusivity ends.Â
