Europe Biosimilars Market Global Size, Historical Analysis, Recent Trends, Opportunity Assessment (2022-2030)
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
Joint ventures and other partnership models will be key for biosimilar medicine manufacturers to stay competitive in the European market. By collaborating with companies involved in researching, launching, and marketing biosimilar drugs, manufacturers can speed up product development and launch them effectively, overcoming patent risks and building confidence among clinicians and patients. This approach provides access to local and foreign expertise, development platforms, and vital funding for research and clinical trials, all of which accelerate development.
Partnering with larger biopharmaceutical manufacturers also grants access to established manufacturing facilities. This allows for outsourcing activities like cell line development, biologics and biosimilar manufacturing, process scaling, and any necessary technology transfer. These collaborations offer long-term benefits, simplifying future bids for biosimilar production within a country and enabling early, efficient product development and market penetration. In a diverse market like Europe, with its varied healthcare policies and market dynamics across countries, local knowledge gained through collaborations is incredibly valuable.
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Patent Expiry of Blockbuster Biologics Offers Lucrative Market Opportunity
Biologicals are revolutionizing the treatment of previously incurable diseases and are increasingly vital in the pharmaceutical market. With the impending patent expiration and other intellectual property rights for originator biologicals, there will be a growing demand for new biosimilars. This will intensify competition within the industry, meaning the patent expiry of blockbuster biologics is expected to generate significant opportunities for the biosimilar market throughout the forecast period.
Germany currently holds the largest market share in the Europe biosimilars market from 2022-2030. Biosimilars foster competition and enhance the affordability of biologics, ultimately leading to cost savings and added-value services that support patient care and the healthcare community. This enables healthcare professionals to treat more patients with high-quality biologics while reducing expenditures. 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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