Market Analysis
The Same Equipment, a Different Customer: Biosimilar Wave
$60B of expiring biologics revenue, and the manufacturers building capacity to take it aren't the customers most equipment suppliers are built to serve.
What the Framework Reveals
$5–7B equipment investment from patent cliffs, 2025–2027
$60B
annual biologics sales moving off patent (Humira, Stelara, Enbrel, Eylea, Prolia)
$5–7B
estimated equipment investment from the manufacturers capturing that revenue
20–30%
below innovator pricing these buyers expect
Humira, Stelara, Enbrel, Eylea, and Prolia together represent roughly $60B in annual sales moving off patent. The manufacturers positioned to capture that revenue — Samsung Biologics, Celltrion, Biocon, Sandoz, Alvotech — are investing an estimated $5–7B in capacity across 2025 to 2027. They're concentrated in Korea and India, buying proven technology rather than new, and expecting 20 to 30 percent below innovator pricing.
Source: Market Report · Jan 2026 · MKA-43-MA, Executive Summary