The article titled 'Diffusion of the biosimilar market in off-patent biological medicines markets in Europe' examines the biosimilars market in Europe during the period from 2014 to 2020. Biosimilars are biological products similar to already approved biological medicines, and have emerged as a form of competition once biological medicines have lost their exclusivity rights over the last 15 years.
To conduct this study, revenue and sales information provided by IQVIA was used. 12 biological substances were identified that faced competition from biosimilars for the first time in 25 European countries during the mentioned period. The study focused on analyzing the market share of biosimilars based on product and market characteristics using beta regression. Furthermore, the diffusion of these products in different countries was compared using multilevel models.
On average, the market share of biosimilars upon first entry was around seven percent in both the retail and hospital markets. However, this market share increased significantly after 16 quarters, reaching 34.69% and 38.29% in these two segments respectively. The results also showed that quarterly growth varied by country, being faster in some places, such as the United Kingdom, and slower in others, such as the Netherlands and Hungary.
The study also revealed that the diffusion of biosimilars increased over time in all European markets analyzed, although at different rates. Furthermore, the market share of biosimilars was observed to be higher in the hospital market compared to the retail market. In terms of speed of adoption, biosimilars were significantly slower than generic drugs.
The authors suggest that if policymakers want to increase the diffusion of biosimilars, they should consider policies that encourage competition and use countries with the highest diffusion rates as a reference.
The article also highlights the importance of biosimilars as a form of competition in the biological medicines market, especially in Europe, where the first biosimilars were approved earlier than in the United States. The study offers a detailed look at how these products have gained ground in the European market and how their adoption varies by country and market type.
In summary, the study provides a comprehensive view of the diffusion of biosimilars in Europe, analyzing their growth over time and highlighting the importance of policies that encourage their adoption in the biological medicines market.
