OBJECTIVES: With more than 20 biosimilars on the European market and several best-selling biologics expected to have a biosimilar within the next 5 years, biosimilar market is expected to bring a substantial value for society. The objective of this research was to assess the societal value of biosimilars. METHODS: A literature review was conducted in Medline and Embase databases, GaBi website and grey literature to assess and illustrate value potential of biosimilars. RESULTS: Reduction in biological drug acquisition costs with biosimilars will have two key impacts: 1) Incur savings on pharmaceutical budgets which might allow for budget re-allocation to fund further biosimilars or new innovative drugs. For example budget impact analysis in 6 Central and Eastern European Countries estimated total cost-savings between €8.0 - €16.9 million following introduction of biosimilar infliximab for treatment of Crohn’s disease and reinvestment in biosimilar infliximab for this indication has been estimated to cover approximately 700 to 1500 additional patients. Biosimilar G-CSF launch in the Southern Health Care region in Sweden was associated with savings of €2 million and fivefold increase in daily G-CSF usage; 2) Improve cost-effectiveness ratio of biologics which might allow expanding patient access to biologics either through full access to biologics not available in one country (e.g. a study conducted across 46 European countries found 22% of countries that did not reimburse biologicals for rheumatoid arthritis), or through extension of indications when access has been restricted (e.g. following infliximab biosimilar entry, The National Institute for Health and Care Excellence in the United Kingdom recommended infliximab in the treatment of ankylosing spondylitis, while the reference product had not been initially recommended). CONCLUSIONS: Biosimilars are expected to contribute to better efficiency of the healthcare systems; biosimilar can improve patient health outcomes by expanding access to affordable biologicals and contribute to financial sustainability of health insurance budgets.