Key Insights into the Adalimumab, Infliximab and Etanercept Biosimilars Market’s Growth Opportunities for 2024-2033
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What is the Estimated Growth Rate for the Adalimumab, Infliximab and Etanercept Biosimilars Market Between 2024 and 2033?
The market size of the adalimumab, infliximab, and etanercept biosimilars has been massively expanding in the past few years. Its growth is projected to rise from $3.67 billion in 2023 to $4.41 billion in 2024, with a compound annual growth rate (CAGR) hitting 20.3%. The surge during the historical period can be linked to the upswing in healthcare spending, alterations in regulations, government schemes, and escalating medical expenses.
The market size for adalimumab, infliximab, and etanercept biosimilars is poised for substantial expansion in the coming years, with projections indicating it will reach $6.79 billion in 2028, growing at a compound annual growth rate (CAGR) of 11.4%. Factors contributing to this projected growth during the forecast period include increased healthcare spending, an aging demographic, and broader access to healthcare. Notable trends foreseen during this period encompass the launch of new products, a focus on mergers and acquisitions, the establishment of strategic partnerships, and heightened investment efforts.
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What Are the Primary Contributors to the Growth of the adalimumab, infliximab and etanercept biosimilars Market?
Biosimilars can penetrate the adalimumab, infliximab, and etanercept markets following the expiration of patents on brand-name drugs. For example, when the branded drug Remicade’s patent expired in the U.S., it allowed Hospira (owned by Pfizer Inc.) to obtain FDA approval for its development, Inflectra. Inflectra treats various autoimmune disorders such as rheumatoid arthritis, adult ulcerative colitis, and plaque psoriasis. Enbrel, a product of Amgen, saw its patent expire in the EU, and as a result, the European Commission approved Benepali, a biosimilar version of Enbrel. Humira’s patent expiration led to the introduction of numerous biosimilars, including Hulio, the sixth biosimilar of Humira, approved by the FDA in July 2020. Therefore, the expiration of branded biologic drugs like Humira, Enbrel, and Remicade is a significant driver in the rising demand for adalimumab, infliximab, and etanercept biosimilars.
Which Key Segments Comprise the Adalimumab, Infliximab and Etanercept Biosimilars Market?
1) By Product: Adalimumab Biosimilars, Infliximab Biosimilars, Cipleumab
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Application: Crohn’s Disease, Psoriatic Arthritis, Rheumatoid Arthritis, Ulcerative Colitis, Ankylosing Spondylitis, Plaque Psoriasis, Other Applications
What Are the Key Trends Reshaping the Adalimumab, Infliximab and Etanercept Biosimilars Market?
Expensive brand-name versions of biosimilar drugs are gradually being substituted by their cheaper counterparts as patents expire. The price of proprietary biological drugs has seen almost a twofold increase in recent times. An example of this is Humira, the drug with the highest sales, which surged to a staggering $72,000 in 2020. The reason behind the transition to more affordable biosimilar drugs is the absence of any clinically significant differences in terms of safety and efficacy between biosimilars and their original biologics. In the case of Denmark’s health care system, it almost wholly turned to adalimumab biosimilars following the patent expiration of the original product, Humira. This shift resulted in a dramatic 82% cost reduction for the medication.
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What Are the Top Regions Fueling Growth in the Adalimumab, Infliximab and Etanercept Biosimilars Market?
North America was the largest region in the adalimumab, infliximab and etanercept biosimilars market in 2023. The regions covered in the adalimumab, infliximab and etanercept biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Adalimumab, Infliximab and Etanercept Biosimilars Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the adalimumab, infliximab and etanercept biosimilars market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Adalimumab, Infliximab and Etanercept Biosimilars Market Include
1. Adalimumab, Infliximab and Etanercept Biosimilars Market Executive Summary
2. Adalimumab, Infliximab and Etanercept Biosimilars Market Segments
3. Adalimumab, Infliximab and Etanercept Biosimilars Market Size And Template Market Growth Rate
4. Key Adalimumab, Infliximab and Etanercept Biosimilars Market Trends
5. Major Adalimumab, Infliximab and Etanercept Biosimilars Market Drivers
……
25. Key Mergers And Acquisitions In The Adalimumab, Infliximab and Etanercept Biosimilars Market
26. Top Adalimumab, Infliximab and Etanercept Biosimilars Companies
27. Adalimumab, Infliximab and Etanercept Biosimilars Market Opportunities And Strategies
28. Adalimumab, Infliximab and Etanercept Biosimilars Market, Conclusions And Recommendations
29. Appendix
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