The European biosimilar market was the first to be established and still represents the most mature and advancing market at a global scale owing to a large number of approved and commercially available biosimilars. Since the launch of the first biosimilar in Europe, the biosimilar market is continuously evolving and showing high adoption rates. The region represents an excellent market for the growth of biosimilars due to the presence of a large pharmaceutical sector which actively indulges in research and development activities. The biosimilar market in Europe is highly competitive, with many key players dominating the market landscape including Novartis, Celltrion, Accord Healthcare, Pfizer, and Mylan.

The global anti-ageing market size was valued at USD 40.49 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. Rising awareness among consumers related to age-related skin problems such as fine lines, wrinkles, and dullness of skin, coupled with an increasing propensity to spend on products that help them to proclaim their skin youthfulness, is expected to drive the market demand throughout the forecast period. The COVID-19 outbreak reduced the market demand for cosmetics, including anti-ageing products, globally. Primarily, countries such as the U.S., India, Brazil, Russia, and the U.K., which are some of the most adversely affected, have witnessed a high decrease in sales.