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
- Europe Biosimilars Market - Introduction
- Europe Biosimilars Market – Key Takeaways
- Europe Biosimilars Market - Research Methodology
- Europe Biosimilars Market – Market Landscape
- Europe Biosimilars Market - Regional Analysis
- Europe Biosimilars Market – Revenue and Forecast
Collaborations for Biosimilars and Clinical Trials Drives the Europe Biosimilars Market
To maintain their competitive standing in the coming years, biosimilar medicine manufacturers in Europe will find joint ventures and other collaboration models increasingly vital. By partnering with companies involved in the research, launch, and marketing of biosimilar drugs, manufacturers can accelerate product development and launch effectively, overcoming patent risks and fostering trust among clinicians and patients. The acquisition of local and foreign expertise, access to development platforms, and funding for research and clinical trials can significantly speed up product development.
Moreover, collaborating with a larger biopharmaceutical manufacturer offers access to their established manufacturing facilities. This allows for outsourcing key activities such as cell line development, biologics and biosimilar manufacturing, process scaling, and any necessary technology transfer. These collaborations provide long-term benefits, simplifying future tenders for biosimilar production projects within the country and enabling early, efficient product development and market penetration. In a considerable market such as Europe, which has significant country-level diversity in healthcare policies and market dynamics, access to local knowledge obtained through such collaborations can also prove invaluable.
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Patent Expiry of Blockbuster Biologics Offers Lucrative Market Opportunity
Biologicals represent cutting-edge therapies for previously incurable diseases and are becoming increasingly important in the pharmaceuticals market. However, patents for many originator biologicals are expected to expire in the coming years.
The impending patent expiration and other intellectual property rights for originator biologicals will create a strong impetus for the introduction of new biosimilars. As a result, competition among market players will surge in the industry in the coming years. Thus, the patent expiry of blockbuster biologics is expected to create highly lucrative opportunities for the biosimilar market during the forecast period.
Germany maintains the largest market share for the Europe biosimilars market from 2022-2030. Biosimilars introduce competition and improve the affordability of biologics, ultimately delivering savings and value-added services that support patient care and the healthcare community. Healthcare professionals can treat more patients with high-quality biologics while simultaneously reducing spending. For example, in Germany, Sandoz reported that the number of daily therapeutic doses of an anti-TNF medicine increased by 29% (from 17.18 to 22.18 million) after biosimilars were introduced in 2022.
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