The Europe Biosimilars Market would witness market growth of 23.6% CAGR during the forecast period (2022-2028).
The prevalence of autoimmune conditions like rheumatoid arthritis & ankylosing spondylitis is rising, fueling the growth of the biosimilars market. For the treatment of chronic pain in arthritis, biosimilars like infliximab-dyyb (Inflectra), infliximab-axxq (Avsola), infliximab-qbtx (Ixifi), and infliximab-abda (Renflexis) are used. Moreover, the number of orthopedic hospitals and diagnostic facilities is growing, which helps with disease diagnosis and treatment rates. As a result, the prevalence of debilitating autoimmune diseases is rising, and hospitals are becoming more numerous.
Diabetes incidence is steadily increasing, which is boosting the demand for insulin biosimilars. In addition, diabetes patients have a cost-effective option in the form of biosimilar insulin analogs. Because of the rising prevalence of diabetes as well as recent product approvals, the market for biosimilars is expanding.
Europe's diverse healthcare systems & sizable biosimilars markets serve as valuable case studies for various approaches to biosimilars policy. Sales of biosimilars reflect Europe's market leadership in terms of legislation and regulations. The biosimilars market in the region is more developed due to the high focus on healthcare. With more approved treatments than any other continent, Europe has established the benchmark. A large quantity of 10% of the region's total biologics market is currently made up of biosimilars, the majority of which have appeared in the last five years.
The Germany market dominated the Europe Biosimilars Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,862.8 million by 2028. The UK market is estimated to witness a CAGR of 22.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 24.6% during (2022 - 2028).
Based on Application, the market is segmented into Oncology Diseases, Blood Disorders, Chronic & Autoimmune Diseases and Others. Based on Type, the market is segmented into Monoclonal Antibodies, Granulocyte-Colony Stimulating Factor, Erythropoietin, Human Growth Hormone, Insulin and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Biosimilars Market will Hit $59 Billion by 2028, at a CAGR of 24.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amgen, Inc., Biocon Limited, Dr. Reddy’s Laboratories Ltd., Eli Lilly and Company, Intas Pharmaceutical Ltd, Novartis AG (Sandoz), Merck & Co., Inc., Pfizer, Inc., Teva Pharmaceuticals Industries Ltd. and Fresenius SE & Co. KGaA
By Application
By Type
By Country
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