DUBLIN, Sept. 10, 2018 /PRNewswire/ --
The "Biosimilar Market in Europe: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The biosimilar market in Europe reached US$ 2,013 Million in 2017. The market is further projected to exceed US$ 9,173 Million by 2023, at a CAGR of 29% during 2017-2023.
The European biosimilar market represents the most mature in the world and continues to rally momentum. This market is expected to grow robustly in the next five years, as a number blockbuster biologics are scheduled to lose patent protection in Europe.
Biosimilars Market in Europe: Drivers
Biosimilars are less expensive than their branded counterparts as they do not require extensive research and testing which saves both money and time; thereby lowering the costs. Moreover, they also have short marketing times as launching a biosimilar does not require extensive marketing as the safety and efficacy profile of their branded counterparts have already been established.
Several blockbuster biologics are expected to lose their patent protection over the next 5 to 10 years. This expiration of patents and other intellectual property rights is expected to create huge opportunities for biosimilar manufacturers.
The European population is ageing with around one fifth of the total EU population above 65 years of age. There has resulted in a significant increase in the burden of lifestyle diseases in the region. The prevalence of diseases such as diabetes, autoimmune diseases, oncology, etc. has been increasing rapidly in Europe. This is also expected to propel the market growth during the next few years.
As a result of rising healthcare costs, governments across a number of European countries have formulated policies incentivising physicians, pharmacists and patients in favour of biosimilars over branded biologics.
The report has analysed the market on the basis of molecule. In 2017, Infliximab dominated the market, accounting for the highest sales. Other major molecules include Insulin Glargine, Epoetin Alfa, Etanercept, Filgrastim, Somatropin, Rituximab, Follitropin Alfa, etc.
Some of the leading players operating in the European biosimilars market include:
- Samsung Bioepis
- Merck Sharp & Dohme
- Eli Lilly
- Accord Healthcare Ltd
- Boehringer Ingelheim
- Hexal Ag
- Stada Arzneimittel Ag
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4 Europe Biosimilars Market - Introduction
5 Europe Biosimilars Market
6 Market Breakup by Country
7 Market Breakup by Molecule
8 Market Breakup by Type of Manufacturing
9 Market Breakup by Indication
10 European Biosimilar Market: SWOT Analysis
11 European Biosimilar Market: Value Chain Analysis
12 Porter's Five Forces Analysis
13 Price Analysis
14 Requirements for Setting Up a Generic Drug Manufacturing Plant
15 Competitive Landscape
For more information about this reportvisit https://www.researchandmarkets.com/research/frf3qt/europe_9_17_bn?w=5
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SOURCE Research and Markets