IMARC Group, a leading market research company, has recently releases report titled “Biosimilar Market in Europe Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab), Indication (Auto-Immune Diseases, Blood Disorder, Diabetes, Oncology, Growth Deficiency, Female Infertility), Manufacturing Type (In-house Manufacturing, Contract Manufacturing), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the biosimilar market in Europe share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Biosimilar Market in Europe?
The biosimilar market in Europe size reached US$ 11,849.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 53,222.9 Million by 2032, exhibiting a growth rate (CAGR) of 17.6% during 2024-2032.
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Europe Biosimilar Market Growth:
The increasing number of patent expirations of various blockbuster biologic drugs is primarily driving the Europe biosimilar market. Moreover, the rising geriatric population and the growing prevalence of chronic disorders, such as autoimmune diseases, cancer, diabetes, etc., are also contributing to the market growth. In addition to this, the escalating adoption of biosimilars, owing to their economical prices, is acting as another significant growth-inducing factor. Furthermore, various biotech and pharmaceutical companies are increasingly investing in R&D activities to expand their biosimilar portfolios to cover a broader range of therapeutic areas, which is positively influencing the market growth.
Leading Companies Operating in the Europe Biosimilar Industry:
- Novartis
- Pfizer
- Teva
- Celltrion
- Merck Sharp & Dohme
- Samsung Bioepis
- Eli Lilly
- Accord Healthcare Ltd.
- Amgen
- Boehringer Ingelheim
- Hexal Ag
- Apotex
- Stada Arzneimittel Ag
- Ratiopharm
- Mylan
Key Market Segmentation:
The report is organized into distinct sections as follows:
Breakup by Molecule:
- Infliximab
- Insulin Glargine
- Epoetin Alfa
- Etanercept
- Filgrastim
- Somatropin
- Rituximab
- Follitropin Alfa
- Adalimumab
Breakup by Indication:
- Auto-Immune Diseases
- Blood Disorder
- Diabetes
- Oncology
- Growth Deficiency
- Female Infertility
Breakup by Manufacturing Type:
- In-house Manufacturing
- Contract Manufacturing
Breakup by Country:
- Italy
- Germany
- United Kingdom
- France
- Spain
- Rest of Europe
Europe Biosimilar Market Trends:
Apart from this, the introduction of favorable government policies to accelerate the clinical trials and approvals of biosimilar drugs is also propelling the growth of the Europe biosimilar market. Moreover, various cost-saving initiatives undertaken by government authorities in Europe to encourage the usage of biosimilars over branded biologics are further catalyzing the market growth. Besides this, numerous regional pharmaceutical companies are forming strategic alliances and collaborations with international medical research institutes to gain a competitive advantage in the development, manufacturing, or commercialization of their products, which is creating a positive outlook for the market. Furthermore, advancements in biotechnology, enabling more precise replication and production of complex biologics, are anticipated to propel the growth of the Europe biosimilar market in the coming years.
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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.
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