SHERIDAN, WYOMING, UNITED STATES, April 13, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Biosimilar Market Share in Europe: Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027.’The biosimilar market in Europe reached a value of US$ 6,735 Million in 2021. 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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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 reach US$ 25,446 Million by 2027, exhibiting at a CAGR of 22.8% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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

Explore full report with TOC & List of Figures: https://www.imarcgroup.com/europe-biosimilar-market

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Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
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 Group
+ 16317911145
email us here

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