Europe Oncology Biosimilars Market: By Drug Class (Monoclonal Antibodies (mAb), Granulocyte Colony Stimulating Factors (G-CSF) and Hematopoietic Agents), By Cancer Type (Blood Cancer, Breast Cancer and Others), By Indication (Malignant Lymphoma or Multiple Myeloma, HER2 Positive Metastatic Breast Cancer (MBC), Neutropenia, and Non-Hodgkin’s Lymphoma (NHL)) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) and Country (Germany, France, UK, Italy, and Spain) – Market Estimation, Dynamics, Country Share, Trends, Competitor Analysis 2016-2017 and Forecast 2018-2024
Europe Oncology Biosimilars Market
Europe Oncology Biosimilars Market Report Description:
Europe oncology biosimilars market report gives comprehensive outlook on oncology biosimilars across the Europe region with special emphasis on European Union countries such as Germany, France, UK, Italy and Spain. The report on Europe oncology biosimilars market gives historical, current, and future market sizes (US$ Mn) on the basis of drug class, cancer type, indication, distribution channel and country. This report studies Europe oncology biosimilars market dynamics elaborately to identify the current market trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
In addition, Europe oncology biosimilars market report covers cancer biosimilar landscape, cancer treatment landscape, barriers to uptake biosimilars, and sales of major biologics, supportive care therapy in oncology, market potential, EMA approved biosimilars etc. with vividly illustrated the competition dashboard to assess the market competition.
Moreover, PBI analyzed Europe oncology biosimilars market to better equip clients with possible investment opportunities across the countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Europe oncology biosimilars market report include suppliers, manufacturers, marketers, policy makers, patient advocacy groups, medical associations, and healthcare service providers engaged in manufacturing or supply or usage or advocacy oncology biosimilar products.
Europe Oncology Biosimilars Market:
The Europe oncology biosimilars market estimated to be valued US$ 649.4 Mn in 2017 and poised to grow at double digit CAGR over 2018-2024. Market for Europe oncology biosimilars projected to reach few billions by 2024 due to well defined regulatory procedures and recent approval of biosimilars by EMA.
Several oncology biologics going off patent by 2020
Europe has experienced a dramatic and unsustainable rise in cancer healthcare costs. Eight of the top ten most expensive drugs are cancer drugs, notably the novel biologic agents rising out of the recent revolution in our understanding of the genetic and molecular basis of malignancy. As the protective patents on new biologic therapies reach expiration, the race to develop biosimilars has begun, hopefully increasing competition and reducing costs, which may lead to €2Bn market opportunity. For instance, in February 2018, Celltrion has received EMA approval for its biosimilar Trastuzumab product Herzuma (CT-P6) that is indicated for the treatment of HER2 over expressing breast cancer and metastatic gastric cancer, was approved in all 28 European states.
Physicians Awareness and Acceptance
The most important and influential stakeholders for biosimilar acceptance and usage are physicians and patients. Oncologists also tend to be more comfortable with trying new therapies for patients and adding newly approved drugs to their armamentarium fairly quickly. Moreover, practitioners are feeling pressure from patients about high-cost biologic therapies, causing many physicians to speak out about the cost of therapies. Entry of new oncology biosimilars in European market could offer lucrative opportunities in the market.
Patients require awareness and education on the basic definition of biosimilars versus generic drugs, how they are tested and approved, cost and availability of clinical trials, so few Cancer organization recommending healthcare professional to educate patients, and for medical societies, government sources, and patient advocacy organizations to provide public awareness and education programs.
Italy accounts for larger market revenue share in Europe oncology biosimilars market
Italy accounted for larger revenue share in Europe oncology biosimilars market with moderate CAGR. Supportive care therapy for oncology is driving the Italy market, launch of mAb biosimilars by market players are expected to drive the market over the forecast period. The growing adoption of biosimilars in Italy owing to its cost has made Italy market attractive for market players. Germany has had the highest uptake of biosimilars due to the implementation of measures stimulating the prescription of biosimilars. Germany market projected to grow at significant rate owing to launch of Trastuzumab and Rituximab biosimilars in the recent years.
Key players profiled in the Europe oncology biosimilars market include:
- Sandoz International GmbH (Germany)
- Amgen Inc. (U.S.)
- Celltrion Healthcare Co., Ltd. (South Korea)
- Samsung Bioepis (South Korea)
Europe oncology biosimilars market is consolidating as large players competing in the market to gain early mover advantage. For instance, In June 2017, Sandoz has received an approval in Europe for Rixathon (biosimilar rituximab) to treat blood cancers and immunological diseases. European Commission approved Sandoz Rixathon® to treat blood cancers and immunological diseases.
By Drug Class
- Monoclonal Antibodies (mAb)
- Granulocyte Colony Stimulating Factors (G-CSF)
- Hematopoietic Agents
By Cancer Type
- Blood Cancer
- Breast Cancer
- Malignant Lymphoma or Multiple Myeloma
- HER2 Positive Metastatic Breast Cancer (MBC)
- Non-Hodgkin’s Lymphoma (NHL)
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Key Findings of the Report:
- The Europe oncology biosimilars market estimated to be valued US$ 649.4 Mn in 2017 and poised to grow at double digit CAGR over 2018-2024
- Based on drug class hematopoietic agents accounted for larger market revenue share in 2017 and projected lose market revenue share over the forecast period and mAbs are expected to gain significant revenue share over the forecast period.
- Based on cancer type blood cancer segment garnered larger revenue share in 2017 owing to launch of mAbs and higher adoption of supportive care oncology biosimilars
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2016-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market