The biosimilar market in Europe reached a value of US$ 5,341 Million in 2020. The European biosimilar market represents the most mature in the world and continues to rally momentum. This market is expected to grow robustly in the next five years, as a number blockbuster biologics are scheduled to lose patent protection in Europe. Looking forward, IMARC Group expects the biosimilar market in Europe to exhibit strong growth during the next five years.
Biosimilars are biotherapeutic products which are similar to already licensed reference biologics, in terms of quality, safety and efficiency. Biosimilar manufacturers wait till the patent of the reference product expires and then seek approval from the regulatory authorities in order to produce their biosimilar versions. These manufacturers use the state-of-the-art technology for comparing the characteristics, such as purity, chemical identity and bioactivity, of the proposed biosimilar to its reference product. In 2005, a science-based regulatory framework was established in the European Union (EU) for ensuring the production of high-quality biosimilars. Later in 2006, the European Medicines Agency (EMA) approved the first biosimilar medicine, Omnitrope. Since then, a number of biosimilars belonging to various therapeutic classes have been approved in Europe.
Biosimilars Market in Europe: Drivers
Breakup by Country:
Country-wise, the market has been segmented into Italy, Germany, United Kingdom, France, Spain and Others.
Breakup by Molecule
The report has analysed the market on the basis of molecule. The market has been segmented into Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab, etc.
Breakup by Indication
The report has also analysed the market on the basis of indication. Other major indications include oncology, autoimmune diseases, blood disorders, growth deficiency, diabetes, etc.
Breakup by Manufacturing Type
On the basis of manufacturing type, the report has segmented the market into in-house manufacturing and contract manufacturing.
Some of the leading players operating in the European biosimilars market include:
This report provides a deep insight into the European biosimilars market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the European biosimilars market in any manner.
Key Questions Answered in This Report:
The Europe Biosimilar market size was valued at US$ 5,341 Million in 2020.
According to the estimates by IMARC Group, the Europe biosimilar market is expected to witness a CAGR of 22.1% from 2021 to 2026.
In Europe, the market growth has been driven by the relatively lower prices of biosimilars as compared to branded counterparts, since they do not require extensive investments for research and development (R&D).
The rapid patent expiration of a number of blockbuster biologics, coupled with an increase in the awareness about the efficiency and safety of biosimilars, represent some of the major trends in the Europe biosimilar market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations in the nation resulting in the postponement of numerous clinical trials pertaining to biosimilars.
On the basis of the molecule, the market has been bifurcated into infliximab, insulin glargine, epoetin alfa, etanercept, filgrastim, somatropin, rituximab, follitropin alfa, and adalimumab. Currently, infliximab holds the majority of the total market share.
On the basis of the indication, the market has been divided into auto-immune diseases, oncology, diabetes, blood disorders, growth deficiency, and female infertility. Among these, auto-immune diseases represent the largest segment.
On the basis of the manufacturing type, the market has been segmented into in-house manufacturing and contract manufacturing. Among these, in-house manufacturing exhibits a clear dominance in the market.
Region-wise, the market has been classified into Italy, Germany, United Kingdom, France, Spain, and others, where Italy dominates Europe biosimilar market.
The key companies in the Europe biosimilar market are Novartis International AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Celltrion, Inc., Merck & Co., Inc. (Merck Sharp & Dohme), Samsung Bioepis Co. Ltd., Eli Lilly and Company, Accord Healthcare Ltd., Amgen, Inc., C.H. Boehringer Sohn AG & Ko. KG, Hexal AG, Apotex, Inc., Stada Arzneimittel AG, Ratiopharm GmbH and Mylan N.V.
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