The biosimilar market in Europe reached a value of US$ 3,683 Million in 2019. 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 moderate 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. In 2019, Italy represented the largest market for biosimilars in Europe.
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. Autoimmune diseases represented the biggest indication for biosimilars in 2019. 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. In 2019, in-house manufacturing accounted for a higher share.
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 was worth US$ 3,683 Million in 2019.
The spread of the coronavirus disease (COVID-19), has affected the biopharmaceutical industry with the multifaceted uptake and adoption of biosimilars. However, the Europe biosimilar market is expected to be under stress due to the reduction of available resources and increasing demand for biosimilars.
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 the major trends catalyzing the market growth.
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 Europe biosimilar market is expected to reach US$ 14,664 Million by 2025.
Based on the molecule, the market is categorized into infliximab, insulin glargine, epoetin alfa, etanercept, filgrastim, somatropin, rituximab and follitropin alfa. Infliximab currently dominates the market, holding the largest market share.
At present, in-house manufacturing represents the largest segment, followed by contract manufacturing.
On the basis of the indication, autoimmune diseases account for the majority of the total market share. Other major segments are blood disorders, diabetes, oncology, growth deficiency and female infertility.
Country-wise, Italy holds the leading position in the market. Other major markets are Germany, France, the United Kingdom, Spain, and the rest of Europe.
Leading players operating in the industry 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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