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Biosimilar Market Share in Europe 2021: Industry Overview, Growth, Trends, Opportunities and Forecast till 2026

SHERIDAN, WYOMING, UNITED STATES, October 18, 2021 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Biosimilar Market Share in Europe: Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the biosimilar market in Europe reached a value of US$ 5,341 Million in 2020. Biosimilars are biological drugs which are similar to approved branded biologics in terms of their safety, efficacy, structure and immunogenicity profile. They are manufactured and approved in accordance with the stringent laws of the European Medicines Agency (EMA). Over the years, there has been a rise in the prevalence of chronic diseases such as obesity, stroke, cancer, seizure and heart attacks owing to the increasing aging population. For instance, as per one of the recent reports by WHO, cancer has emerged as one of the major causes of death and morbidity in the region.

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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.

Market Trends:
As patients have limited access to biologics on account of their high prices, there is a huge demand for biosimilars in the region. Biosimilars are relatively less expensive as they do not require extensive investment for research and development activities and marketing, which saves time as well as money of the manufacturers. This has further assisted in reducing the overall cost of treating chronic diseases. Moreover, the increasing awareness among patients about the safety and efficiency of biosimilars is creating a positive outlook for the market growth. In line with this, the EMA and the European Commission are working to improve the understanding of biosimilars across the European Union. Looking forward, IMARC Group expects the market to grow at a CAGR of 22.1% during 2021-2026.

Market Summary:
• Based on the molecule, the market has been segmented into infliximab, insulin glargine, epoetin alfa, etanercept, filgrastim, somatropin, rituximab and follitropin alfa. Currently, infliximab dominates the market, holding the largest share as it is used in the treatment of numerous inflammatory disorders like plaque psoriasis, psoriatic arthritis and ankylosing spondylitis.
• On the basis of the manufacturing type, in-house manufacturing represents the largest segment, followed by contract manufacturing. In-house manufacturing enables companies to monitor every step of the biosimilar manufacturing process.
• Country-wise, the market has been classified into Italy, Germany, France, the United Kingdom, Spain and Rest of Europe. Amongst these, Italy is the leading market, accounting for the majority of the total market share due to healthcare cost containment measures adopted in the country.
• The competitive landscape of the market has also been examined with some of the key players being Novartis, Pfizer, Teva, Celltrion, Merck Sharp & Dohme, Samsung Bioepis, Eli Lilly, Accord Healthcare Ltd., Amgen, Boehringer Ingelheim, Hexal Ag, Apotex, Stada Arzneimittel Ag, Ratiopharm and Mylan.

Some of the leading players operating in the European biosimilars market include:
• Novartis
• Pfizer
• Teva
• Celltrion
• Samsung Bioepis
• Amgen
• Apotex
• Ratiopharm
• Mylan
• Merck Sharp & Dohme
• Eli Lilly
• Accord Healthcare Ltd
• Boehringer Ingelheim
• Hexal Ag
• Stada Arzneimittel Ag

Breakup by Country:
• Italy
• Germany
• United Kingdom
• France
• Spain
• Others

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

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Key highlights of the report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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