Biosimilars Market, Europe, Forecast to 2025, new research from Frost & Sullivan’s Life Sciences Growth Partnership Service program, finds that Europe will remain the largest contributor to global biosimilar revenues for the next 5–7 years, supported by pricing, physician awareness, and regulatory agencies. Across the region, payers are adopting a variety of approaches to encourage physicians to prescribe biosimilar medicines, motivate manufacturers to participate in the market, and provide adequate clinical evidence to support the prescribing of these treatments. Novartis, Lonza, Boehringer Ingelheim, Amgen, Sandoz, Pfizer, Mylan, Samsung Bioepis, Hospira, Eli Lilly are among key market players.
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The presence of over 400 commercial providers worldwide makes it challenging to differentiate and compete against market leaders. Reluctance of physicians to prescribe biosimilars, given its lack of long-term safety and efficacy data, high capital requirements, complex regulatory approval processes, and upcoming biobetters, can rein in the potentially explosive growth of biosimilars.
With healthcare rapidly becoming more patient-centric, providing access to medications and a better quality of life for patients becomes a crucial factor for payers. As the majority of patients are not receiving treatment due to its high cost and lack of insurance coverage, there is a willingness to use low-cost biosimilars.
“Establishing interchangeability is an important step to ensure complete acceptance of biosimilars and high market penetration,” said Thangaraj. “Currently, lack of clarity in guidelines and regulations owing to technical barriers and…