According to the latest research report, the biosimilar market in Europe reached a value of USD 3,683 Million in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years.
Biosimilars are generic biotherapeutic drugs that are similar to already licensed reference biologics in terms of immunogenicity profile, quality, safety, structure and efficiency.
European Biosimilar Market Trends:
The European Union (EU), and especially the European Medicines Agency (EMA), has been a significant driver of biosimilar adoption. The EMA created a single approval pathway for pharmaceuticals and similar biological medicinal products in 2005. Since then, several biosimilars have been approved and successfully marketed across various European countries. Also, the demand for biosimilars in Europe has been supported by their low cost, which helps in driving down the treatment expenditure for a variety of chronic conditions such as diabetes, cancer, cardiovascular diseases (CVDs), rheumatoid arthritis, kidney failure, growth hormone deficiency, hematological disorders, and autoimmune and infectious diseases.
Moreover, the leading biosimilar companies in Europe have also increased their spending on research and development (R&D) activities to develop sophisticated and differentiated products, either through acquisitions or building their capabilities.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The report has segmented the market on the basis of Molecule, Indication, Manufacturing Type, and Country.
Breakup by Country:
Breakup by Molecule
Breakup by Indication
Breakup by Manufacturing Type
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Novartis (NYSE: NVS)
Pfizer (NYSE: PFE)
Teva (NYSE: TEVA)
Celltrion (KRX: 068270)
Merck Sharp & Dohme (NYSE: MRK)
Accord Healthcare Ltd.
Stada Arzneimittel Ag
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