Biosimilar Market in Europe 2024-2032
According to IMARC Group's report titled "Europe Biosimilar Market Report by Molecule (Infliximab, Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, Adalimumab), Female Infertility), Manufacturing Type (In-house Manufacturing, Contract Manufacturing), and Country 2024-2032", The market is reached USD 11,849.5 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 53,222.9 Million by 2032, exhibiting a growth rate (CAGR) of 17.6% during 2024-2032. The Europe market is primarily driven by the increasing prevalence of chronic diseases, such as cancer, diabetes, and autoimmune disorders.
In line with this, the rising pressure on healthcare systems to reduce costs while maintaining access to high-quality treatments is further fueling market demand. Additionally, the growing number of patent expirations of major biologic drugs is creating opportunities for biosimilar manufacturers to enter the market, accelerating competition, and driving down prices. The increasing acceptance and trust in biosimilars among healthcare providers and patients, driven by successful real-world outcomes and clinical trials, is further supporting market expansion.
Moreover, the active promotion of biosimilars by governments and healthcare organizations as a strategy to enhance treatment accessibility and sustainability is driving adoption of the product. Likewise, the rising investments in research and development by pharmaceutical companies to develop innovative biosimilar products are strengthening the market's potential.
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Biosimilar Market in Europe Scope and Growth Analysis:
The scope of the market is broadening and encompasses a wide range of therapeutic areas, including oncology, autoimmune diseases, endocrinology, and hematology, reflecting the diverse application. The market's scope is further supported by the expanding availability of biosimilars in hospital and retail pharmacies, making these treatments more accessible to a broader patient population. As the market matures, there is a growing emphasis on education and awareness initiatives aimed at healthcare professionals and patients to enhance understanding and confidence in biosimilars.
Moreover, favorable regulatory support from the European Medicines Agency (EMA), which has established clear guidelines and a rigorous approval process for biosimilars, is also facilitating market growth. According to market analysis, the expanding biosimilar product pipeline, with several key therapies in oncology, immunology, and endocrinology, is driving to the market scope. Furthermore, increasing focus on personalized medicine is propelling the ongoing demand for cost-effective, high-quality therapies and resulting in sustained growth.
By the IMARC Group, the Top Competitive Landscapes Operating in the 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
Biosimilar Industry in Europe Segmentation:
The report has segmented the market into the following categories:
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
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Other Key Points Covered in the Report:
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
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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