Europe Biosimilar Market Report and Forecast 2023-2028

Europe Biosimilar Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Europe biosimilar market reached a value of almost USD 3.68 billion in 2022. Aided by expiration of patents and other intellectual property rights and the growing incidences of lifestyle diseases in Europe, the market is projected to further grow at a CAGR of 25% between 2023 and 2028 to reach a value of almost USD 14.04 billion by 2028.

Biosimilars, often termed 'follow-on biologics', are highly similar versions of approved biologic drugs. These therapeutics have no clinically meaningful differences in terms of safety or efficacy from the reference biologic, but they come at a fraction of the cost. They are paramount in treating a myriad of diseases, ranging from cancers to autoimmune disorders. As Europe grapples with the mounting pressure on its healthcare systems, biosimilars present an effective solution to optimise spending without compromising patient care.

The Europe biosimilar market growth can be attributed to the rising prevalence of chronic diseases, especially rheumatoid arthritis, diabetes, and various forms of cancer. As the European population ages, the demand for effective yet cost-efficient treatments has increased such as biosimilar itself. They not only ensure therapeutic efficacy equivalent to their reference biologics but also aid in the cost-saving agenda, especially for public healthcare systems.

Growing focus on fostering a more supportive regulatory landscape for the development and approval of biosimilars is one of the major Europe biosimilar market trends. Regulatory bodies like the European Medicines Agency (EMA) have established clear-cut pathways and guidelines, making Europe one of the pioneers in biosimilar acceptance and utilisation. This has significantly catalysed the speed of biosimilar launches and their subsequent adoption in clinical settings.

As per the Europe biosimilar market analysis, the strategies employed by key players are contributing to the market expansion. Many businesses are entering collaborative agreements or mergers and acquisitions to bolster their biosimilar pipelines, ensuring they remain at the forefront of this transformative shift. Furthermore, manufacturers are investing robustly in research and development, striving to expand their portfolios and penetrate deeper into the European healthcare sector.

Moreover, strategic efforts have been deployed to ensure robust post-market surveillance systems. This not only ensures patient safety but also fortifies the trust among healthcare providers and patients in biosimilars, further driving their uptake.

Another pivotal factor accelerating the Europe biosimilar market demand is the robust support from healthcare professionals and patient advocacy groups. With the primary goal of ensuring that patients have access to effective treatments, these stakeholders play a crucial role in endorsing biosimilars. Educational initiatives targeting both clinicians and patients are enhancing the overall understanding and acceptance of biosimilars, further bolstering its adoption.

Market Segmentation

The market can be divided based on molecule, manufacturing type, indication, and country.

Market Breakup by Molecule

• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Others

Market Breakup by Manufacturing Type

• In-house Manufacturing
• Contract Manufacturing

Market Breakup by Indication

• Auto-immune Diseases
• Blood Disorder
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility

Market Breakup by Country

• Italy
• Germany
• France
• United Kingdom
• Spain
• Rest of Europe

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Europe biosimilar market. Some of the major players explored in the report by Expert Market Research are as follows:

• Pfizer Inc.
• Celltrion Inc.
• Novartis AG
• AMGen Inc.
• Eli Lilly and Company.
• Samsung Bioepis
• Sanofi SA
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.