Drivers of Europe's biosimilars market

Despite the initial regulatory hiccups, the number of biosimilars, ie, follow-on versions of genetically-enginered drugs, in the European  market is set to increase gradually. The patent expiry of key  biopharmaceuticals has opened up numerous lucrative market  opportunities, while driving the development of biosimilars. In  addition, payers' perception of biosimilars, as viable alternatives to  originator drugs due to their safety, efficacy and affordability, will  further bolster market prospects.

"Patent expiries of some top-selling biopharmaceuticals have resulted in  a massive market opportunity for biosimilar manufacturers," notes Frost  & Sullivan senior research analyst Sumanth Kambhammettu. "Product  classes such as erythropoietins, insulin and analogs, granulocyte  colony-stimulating factors, human growth hormones and interferons,  which have all lost patent protection, had a collective market size of  approximately $34.04 billion in 2007," he adds.