Dublin, Aug. 20, 2021 (GLOBE NEWSWIRE) -- The "Europe Biosimilars Market, Dosage, Price, Sales & Clinical Trials Insight 2026" report has been added to ResearchAndMarkets.com's offering.
Presently, there are 69 biosimilars in Europe that have been approved in clinics for a 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 a large number of approved and commercially available 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 lucrative markets and are expected high growth rates during the forecast period. Among the European countries, Denmark 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.
The European biosimilar market opportunity is expected to surpass US$ 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 the European Biosimilar market. Moreover, an increase in the 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 the 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.
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
Eli Lilly & Company
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