According to the latest report by IMARC Group, titled “Biosimilar Market in Europe: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’the biosimilar market in Europe reached a value of US$ 6,735 Million in 2021. Biosimilars are a type of biotherapeutic product similar to licensed reference biologics in terms of safety, quality, and efficacy. The manufacturers wait for the patent of the reference product to expire, after which they seek approval from the regulatory authorities to produce biosimilar versions. The manufacturers use state-of-the-art technology to compare the characteristics, such as chemical identity, purity, and bioactivity, of the biosimilar to its reference product.
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The biosimilars market in Europe is primarily driven by government efforts to incentivize physicians, patients, and pharmacists in favor of biosimilars over branded biologics. Moreover, the increasing prevalence of autoimmune diseases, cancer, and diabetes across Europe has significantly surged the demand for biosimilars, thereby further driving the market growth. In addition to this, the burgeoning healthcare expenditure, the rising patient awareness regarding biosimilars, and the surging geriatric population are bolstering the market growth across Europe.
Looking forward, IMARC Group expects the market to reach US$ 25,446 Million by 2027, exhibiting at a CAGR of 22.8% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Some of the leading players operating in the European biosimilars market include:
- Samsung Bioepis
- Merck Sharp & Dohme
- Eli Lilly
- Accord Healthcare Ltd
- Boehringer Ingelheim
- Hexal Ag
- Stada Arzneimittel Ag
Breakup by Country:
- United Kingdom
Breakup by Molecule
- Insulin Glargine
- Epoetin Alfa
- Follitropin Alfa
Breakup by Indication
- Auto-Immune Diseases
- Blood Disorder
- Growth Deficiency
- Female Infertility
Breakup by Manufacturing Type
- In-house Manufacturing
- Contract Manufacturing
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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