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. 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.
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.
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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.
Market Summary:
Some of the leading players operating in the European biosimilars market include:
Breakup by Country:
Breakup by Molecule
Breakup by Indication
Breakup by Manufacturing Type
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Key highlights of the report:
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