The Europe biosimilars market is expected to grow from US$ 10,344.86 million in 2022 to US$ 1,15,125.91 million by 2030; it is estimated to grow at a CAGR of 35.1% from 2022 to 2030.
Table of Contents
1. Europe Biosimilars Market – Introduction
2. Europe Biosimilars Market – Key Takeaways
3. Europe Biosimilars Market – Research Methodology
4. Europe Biosimilars Market – Market Landscape
5. Europe Biosimilars Market – Regional Analysis
6. Europe Biosimilars Market – Revenue and Forecast
Collaborations for Biosimilars and Clinical Trials Drives the Europe Biosimilars Market
To stay competitive in the European market, biosimilar medicine manufacturers will increasingly leverage joint ventures and other collaborative models. By partnering with companies focused on researching, launching, and marketing biosimilar drugs, manufacturers can accelerate product development and launch effectively, overcoming patent risks and building confidence among healthcare providers and patients. This collaborative approach offers access to local and foreign expertise, development platforms, and funding for research and clinical trials, all of which expedite the development process.
Additionally, teaming up with a larger biopharmaceutical manufacturer provides access to their established manufacturing facilities. This allows for outsourcing activities like cell line development, biologics and biosimilar manufacturing, process scaling, and any required technology transfer. Collaborations yield long-term benefits, simplifying the process of tendering for future biosimilar production projects within a country and facilitating early, efficient product development and market penetration. In a substantial market like Europe, characterized by diverse country-level healthcare policies and market dynamics, gaining local knowledge through such partnerships proves invaluable.
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Patent Expiry of Blockbuster Biologics Offers Lucrative Market Opportunity
Biologicals are offering promising new therapies for previously incurable diseases and are becoming increasingly vital in the pharmaceuticals market. However, the patents for many originator biologicals are expected to expire in the coming years.
The expiration of patents and other intellectual property rights for originator biologicals will create a strong demand for new biosimilars. As a result, competition among market players will intensify in the industry in the coming years. Therefore, the patent expiry of blockbuster biologics is anticipated to generate highly lucrative opportunities for the biosimilar market during the forecast period.
Germany commands the largest market share for the Europe biosimilars market from 2022-2030. Biosimilars introduce competition and enhance the affordability of biologics, ultimately delivering savings and value-added services to support patient care and the healthcare community. This allows healthcare professionals to treat more patients with high-quality biologics while simultaneously reducing spending. For instance, in Germany, Sandoz reported a 29% increase (from 17.18 to 22.18 million) in the number of daily therapeutic doses of an anti-TNF medicine after biosimilars were introduced in 2022.
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