According to our report, the European Biosimilars Market size is forecasted to grow USD 8.21 billion by 2024 from USD 2.86 billion in 2020, and estimated to be growing at a CAGR of 23.50% from 2020 to 2025.
With about one-fifth of the total EU population over 65 years of age, the European population is aging. The burden of lifestyle diseases in the region has resulted in a significant rise. The prevalence of diseases such as diabetes, autoimmune diseases, oncology, etc. in Europe has increased. Over the next few years, this is also projected to fuel market growth.
Emerging drug markets and gentle government regulations deliver some of the market's biggest openings. Another element that contributes to the demand for the market is the economic uncertainty in Europe. Many groundbreaking biologics within the next 5 to 10 years are predicted to lose their patent protection. The expiry of patents and other intellectual property rights is expected to generate tremendous opportunities for producers of biosimilar products. Governments across a range of European countries have introduced strategies to allow doctors, pharmacists, and patients to choose biosimilars over branded biologics as a consequence of increasing healthcare costs.
MARKET OVERVIEW
The Biosimilars sales in Europe are likely to grow with the acceptance for the drug patency in terms of safety and immunity. The producers are focusing on the development of biosimilar products. In 2017, the market growth was nearly 2.5 million USD, where 36 products have been approved. Governments throughout the European countries have introduced plans to allow doctors, pharmacists and patients to choose biosimilars over branded due to increasing healthcare prices.
The European sales in biosimilar markets are increasing, and the insulin market that has started in September 2014, which is the biosimilar of Lantus, was approved at that time. For the first time, filgrastim was approved for the biosimilars in Europe. Germany is holding the highest shares in the market. Constant economic growth is elevating the demand of the market in this country. France and the U.K. are deemed to have a significant growth rate in foreseen years with the increasing disposable income and growing expenditure on healthcare services.
Samsung Bioepis has announced that the European Medicines Agency approved 420mg in pack size. Trastuzumab biosimilar has gained a fair share in the market, and Filgrastim biosimilar was launched and approved in Europe, where it acquired 100% of the open market in the European countries like Slovakia, Hungary. In Europe, the moderate share for filgrastim bio-similar was more than 90%.
This research report segmented and sub-segmented the market into the following categories:
Biosimilars Market in Major EU Countries
The first biosimilar approval was in 2006 for the human growth hormone, but that didn't make up any profits in the market in U.K. Humira which is one of the excellent products has led the market growth. Adalimumab which is the biosimilar for Humira, is leveraging the shares of the market.
Infliximab which was launched in 2015, is now up to 91% consumption in England that is according to the Medicines Optimization Dashboard. The U.K. bio-similar market develops growing competition among biological medicines, and that can deliver essential savings to NHS.
Among the European countries, Denmark has been outstanding for its bio-similar consumption and the cost saving is also achieved. Denmark has implemented one of the most radical programs of biosimilar and produced a considerable amount of share in the overall bio-similar volume.
Germany is one of the countries in Europe to establish a hit highest CAGR from ten years. Especially, oncology, neurology and gastroenterology are highly benefited through this bio-similars. It has brought tremendous growth opportunities in the market shares and also deemed to maintain this level in the coming years.
The Italy market is to grow at a CAGR of 24.9% during the period. The market is expected to grow strongly in the upcoming years. The bio-similars are exceedingly less expensive as they don't require more research and tests for the release into the market, which saves time and money. Biologics in Italy has disclosed that changing is constant during the period.
Spain is Europe's fifth-highest manufacturing industry. Moreover, biosimilars accounted for less than 5% of the total biologics market. Spain carries the early entry of biosimilars. Also, this country creates unpredictability for manufacturing companies. Here, biosimilars are valued 30% under the medicinal cost. When compared with conventional generics, 40% are evaluated under the drug cost.
France is one of the European countries that have been set for continuous growth. Here, the pharmacists continue to grow their increase centre of attraction in quick growing and low costs that are used for the development of new methods is necessary to accelerate to make certain defendable future and France has captured less than 5% of the market.
Regionally, Europe dominates the biosimilar market. In the coming years, several new classes of biosimilars are expected to be submitted for approval in Europe. Most existing drugs are expected to lose their EU patents by 2020, including leading treatments for breast cancer, diabetes and rheumatoid arthritis. Overall, the opportunities in biosimilar research are expected to escalate throughout Europe.
Most promising companies leading the market are Sandoz International GmbH, Wockhardt Ltd, Hospira, Inc., Teva Pharmaceutical Industries Ltd. Dr Reddy's Laboratories, Biocon Limited, Mylan, Inc., Zydus Cadila, Celltrion Inc., Roche Diagnostics and Cipla Ltd.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 Protein
5.1.2 Insulin
5.1.3 Human Growth Hormones
5.1.4 Granulocyte Colony-stimulating Factor (G-CSF)
5.1.5 Interferons
5.1.6 Recombinant Glycosylated Proteins
5.1.7 Erythropoietin
5.1.8 Monoclonal Antibodies
5.1.9 Follitropin
5.1.10 Recombinant Peptides
5.1.11 Glucagon
5.1.12 Calcitonin
5.2 By Technology
5.2.1 Mass Spectroscopy
5.2.2 Chromatography
5.2.3 Monoclonal Antibody Technology
5.2.4 Recombinant DNA Technology
5.2.5 Nuclear magnetic resonance (NMR) technology
5.2.6 Electrophoresis
5.2.7 Bioassay
5.3 By Application
5.3.1 Oncology diseases
5.3.2 Blood disorders
5.3.3 Growth hormone deficiencies
5.3.4 Chronic and autoimmune diseases
5.3.5 Others
6. Geographical Analysis
6.1 Introduction
6.2 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Sandoz International GmbH
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Wockhardt
8.3 Hospira
8.4 Teva Pharmaceutical Industries
8.5 Dr. Reddy’s Laboratories
8.6 Biocon
8.7 Mylan
8.8 Zydus Cadila
8.9 Celltrion
8.10 Roche Diagnostics
8.11 Cipla
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Feb 2020
