Biosimilar Market in Europe 2018: Industry Trends, Growth, Demand, Share, Opportunities and Forecast till 2023 - Press Release"Biosimilar Market in Europe Driven by Ongoing Awareness Initiatives"Owing to the changing perception towards biosimilars and favorable guidelines laid down by the European Medicines Agency (EMA), the biosimilar market in Europe has witnessed a robust growth over the past several years.IMARC Group’s latest report, entitled “Biosimilar Market in Europe: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the biosimilar market in Europe reached a value of US$ 2,013 Million in 2017. Biosimilars refer to biological drugs which are highly similar to already approved branded drugs in terms of safety, efficacy, structure, immunogenicity profile, etc. In Europe, biosimilars are manufactured, developed and approved according to the stringent laws laid down by the European Medicines Agency (EMA). A significant rise in the ageing population has led to the prevalence of various chronic diseases in the region. For instance, according to a report by WHO, cancer has emerged as the second major cause of death and morbidity in Europe with more than 3.7 million new cases and 1.9 million deaths each year. As a result of this, cancer supportive biosimilars, such as Filgrastim and Erythropoietin, are widely being recommended by doctors in the region. Moreover, the biosimilar manufacturers in the region are continuously developing new products which are projected to help in increasing the availability of biological treatments for the patients.
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