Europe To Dominate The Global Biosimilar Market Landscape Driven By Favorable Policy Framework Says Kuick Research
NEW DELHI, Aug. 18, 2021 /PRNewswire/ -- "Europe Biosimilars Market, Dosage, Price, Sales & Clinical Trials Insight 2026" Report highlights:
- Europe Biosimilars Market Opportunity: > USD 10 Billion
- Dosage & Pricing insight On Approved Biosimilars
- Biosimilars for Cancers Accounts for > 20% Market
- Biosimilars for Diabetes Accounts for > 5% Market
- Biosimilars Approval & Commercialization by Country
- Insight On Biosimilar Clinical Trials By Company, Indication & Phase: > 100 Biosimilars
- Insight On Commercially available Biosimilars in Market: > 25 Biosimilars
- Biosimilar Market Trends by Country
Download Report:
https://www.kuickresearch.com/report-europe-european-biosimilar-biosimilars-medicine-market-sales-size-omnitrope-ema-eu-guidelines-insulin-clinical-trials-approval-process-guidelines
Biopharmaceutical drugs have become an important part of modern pharmacotherapy. In recent times, biological drugs have comprised about 50% of the overall therapeutic market owing to their high efficacy and specificity in the management of wide range of diseases. However, the high cost of treatment associated with them possesses a significant burden on the healthcare systems. The patent expiration of the biologic drugs has led to the development of biosimilar which aim to reduce the cost of treatment thus increasing the accessibility of the medications to the patients.
Presently, there are 69 biosimilars in Europe which have been approved in clinic for the wide range of diseases including arthritis, cancer, inflammatory and auto-immune disorders. The European biosimilar market was the first to be established and still represents the most mature and advancing market at a global scale owing to the large number of approved and commercially avialable biosimilars. Adalimumab (Humira) is currently dominating the market which is due to high adoption rates of this drug associated with large number of biosimilar approval. Apart from this, several biosimilars for one reference product has been approved which increases the competition in the market. Adalimumab faces majority of competition with 6 biosimilars approved followed by Trastuzumab and Mabthera with five biosimilars competing with the reference product in the market.
Since the launch of first biosimilar in Europe, the biosimilar market is continuously evolving and showing high adoption rates. The region represents an excellent market for the growth of biosimilars due to the presence of large pharmaceutical sector which actively indulge in research and development activities. The biosimilar market in Europe is highly competitive, with many key players dominating the market landscape including Novartis, Celltrion, Accord Healthcare, Pfizer and Mylan. Most of the key players are adopting various growth strategies, such as acquisitions, partnerships and new product launches to increase their revenue.
Currently, the market is mainly dominated by UK which is mainly due to technological advancements in the healthcare care and healthcare spending. Regions including Denmark, Italy, France, and Germany are other lucurative markets and are expected high growth rates during the forecast period. Among the European countries, Denamrk has been outstanding for its biosimilar consumption. Moreover, Denmark has also implemented one of the most radical biosimilar programs and produced a considerable amount of share in the overall biosimilar volume.
As per "Europe Biosimilars Market, Dosage, Price, Sales & Clinical Trials Insight 2026" report findings, the Europe biosimilar market opportunity is expected to surpass US$ 10 10 Billion by 2026. The high rate in the market is mainly due to the rising demand for biosimilars due to their cost saving potential. In addition, the rising geriatric population in the region is also boosting the growth of European Biosimilar market. Moreover, an increase in burden on lifestyle diseases and the proliferation of chronic diseases including diabetes, cancer, asthma, arthritis and others, influence the biosimilar market during the forecast period. Furthermore, in coming years the patent of several drugs including Cimzia, Yervoy, Lemtrada, Lucentis and others are expected to expire during the forecast period, which will further propel the development of biosimilars in Europe.
Contact:
Neeraj Chawla
Research Head
+91-981410366
neeraj@kuickresearch.com
https://www.kuickresearch.com
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