According to the latest report by IMARC Group, titled "Biosimilar Market in Europe: Industry Trends, Share, 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.

Biosimilars are medical products that are generally manufactured from biological substances, such as microorganisms and animal or plant cells. They are extensively used in the production of vaccines, therapeutic proteins and monoclonal antibodies. Additionally, they are utilized by healthcare professionals for preventing, determining, and treating numerous medical ailments. These products are usually produced under the guidance of licensed facilities that are tracked as an essential part of post-market surveillance. They are considered to be harmless and safe for medical use with minor differences in clinically inactive components.    

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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Europe Biosimilar Market Trends:

The market in Europe is primarily driven by the rising prevalence of chronic illnesses due to the sedentary lifestyle patterns of the masses. Additionally, the multiple initiatives undertaken by the governments of numerous countries towards the development of a comprehensive set of stringent regulatory guidelines for biosimilar review are positively influencing the market growth across the region. Furthermore, increasing investments and funding by private and public agencies to upgrade the existing healthcare infrastructure and various technological advancements across the sector are considered to be major growth-inducing factors. Other factors, including the rising awareness regarding the availability of biosimilars among patients, patent expiration of numerous blockbuster biologics and extensive research and development (R&D) activities conducted by key players in biotechnology and medical science, are further projected to drive the market growth across Europe.

Europe Biosimilar Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the biosimilar market in Europe has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these Key Players Include:

• Novartis
• Pfizer
• Teva
• Celltrion
• Samsung Bioepis
• Amgen
• Apotex
• Ratiopharm
• Mylan
• Merck Sharp & Dohme
• Eli Lilly
• Accord Healthcare Ltd
• Boehringer Ingelheim
• Hexal Ag
• Stada Arzneimittel Ag

Key Market Segmentation:

Breakup by Country:

• Italy
• Germany
• United Kingdom
• France
• Spain
• Rest of Europe

Breakup by Molecule:

• Infliximab
• Insulin Glargine
• Epoetin Alfa
• Etanercept
• Filgrastim
• Somatropin
• Rituximab
• Follitropin Alfa
• Adalimumab

Breakup by Indication:

• Auto-Immune Diseases
• Blood Disorder
• Diabetes
• Oncology
• Growth Deficiency
• Female Infertility

Breakup by Manufacturing Type:

• In-house Manufacturing
• Contract Manufacturing

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Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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