Biosimilar medicines have delivered 18 billion euros total savings for Europe
Over the next decade, many more biological medicines are set to lose market exclusivity, representing an opportunity to increase competition and offer invaluable resources for healthcare systems to improve patient access and healthcare budget sustainability while significantly reducing equity gaps across Europe.
The annual IQVIA report, titled ‘ The Impact of Biosimilar Competition in Europe’ , describes the evolution in price, volume, and market share following the arrival of biosimilar competition in Europe. In a series of five key observations, it is evident that biosimilar medicines deliver benefits and efficiency for patients and healthcare systems whenever they are used successfully. In its report IQVIA notes:
- COVID-19: The COVID-19 pandemic impacted patients receiving biological treatment, particularly cancer patients.
- Savings: Since the start of biosimilar competition, EU countries have saved 18 billion euros ($20.3 billion), highlighting the important role of biosimilar medicines in the affordability and sustainability of healthcare.
- Access: Development of patient access to biological medicines remains challenging, even when biosimilar medicines are available, emphasizing that countries need to do more to capitalize on the potential for expanded access with biosimilar medicines.
- Competition: The competitive environment underlines the increasing diversity of biosimilar competitors.
- Future: Countries need to prepare to fully seize the increasing opportunity with biosimilar medicines, adapting the regulatory and market environments in support of biosimilar medicines development for smaller patient populations.
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