Biosimilars: Evidence from Europe
The EU market contains more than 55 biosimilars for around 15 oncology, autoimmune, diabetes, and fertility biologic therapies. Although the expiry of patent protection for biologics has resulted in increased biosimilar development and competition, some regulatory barriers obstruct the market's full potential. European countries have developed an effective process to create a sustainable biosimilar market within their diverse healthcare systems. In Europe, biosimilars are typically 30% more affordable than the original drug and offer considerable cost savings. Europe generally has a smooth transition between the biologic and biosimilar.
Through this whitepaper, DelveInsight is taking the reader on a short trip to understand the European biosimilar market's present scenario with glimpses of future opportunities. The European biosimilar market offers other countries the opportunity to maximize long-term savings in the healthcare setting and learn through their real-world adoption practices.