Adalimumab Market to Witness Widespread Expansion by 2024
Global Adalimumab Market: Overview
Adalimumab, with a trade name of Humira and Exemptia, is an anti-TNF drug used for treating rheumatoid arthritis, psoriatic arthritis, Crohn’s disease, psoriasis and ulcerative colitis. Adalimumab usually binds with tumor necrosis factor-alpha (TNFα). When a TNFα binds to a TBFα receptors, it results in an inflammatory response to autoimmune disease. Adalimumab, by binding to a TNFα, lowers the chances of inflammatory response.
Adalimumab, which was first approved in the U.S., is currently being marketed in over 60 countries. Its global market is consolidated with a handful of players trying to outsmart one another on the basis of price. At present, most of the leading players are focused on the development of adalimumab biosimilars for curing rheumatoid arthritis and psoriasis. This is palpable from the clinical trials being carried out to test the safety and efficacy of the adalimumab biosimilars in curing the medical conditions.
A report by Transparency Market Research studies the global adalimumab market in details. It presents a qualitative analysis of the different market trends and gauges its size and potential. It also throws light on the different production plants, their capacities, global production, and revenues. To do so, extensive primary and secondary researches have been carried out.
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Global Adalimumab Market: Drivers and Restraints
At the forefront of driving the global adalimumab market is the rising occurrence of arthritis worldwide. This in turn is mostly on account of the burgeoning elderly population. In fact, most women suffer from arthritis in old age because of loss of calcium in the body. A sedentary lifestyle is also responsible for growth in arthritis and another medical condition called psoriasis. Both of them along with other factors such as rising prevalence of Crohn’s disease and ulcerative colitis are leading to the uptake of the product.
Adalimumab, however, is an expensive drug on account of its biologic nature. It costs somewhere between US$2000 and US$3000 per month. This is one factor that is serving to counter the growth in its market.
The global adalimumab market can be segmented on the basis of the type of disease into rheumatoid arthritis, psoriatic arthritis, psoriasis, Crohn’s disease, and ulcerative colitis. At present, the rheumatoid arthritis segment grosses maximum revenue and going forward too will outshine all other segments in terms of growth.
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Global Adalimumab Market: Geographical Segmentation
Geographically, the key segments of the global adalimumab market are North America, Western Europe, Latin America, Asia Pacific, Eastern Europe, and the Middle East and Africa. Among them, North America and Europe are key markets. This is because of a well-structured regulatory framework, proper reimbursement coverage, and superior healthcare infrastructure, particularly in the countries of Canada, the U.S., the U.K., and Germany. The sizeable proportion of arthritis cases owing to a sedentary lifestyle has also led to the growth in the market in the two continents. Asia Pacific, on the other hand, holds out a strong promise of growth in the near future on account of a cluster of fast-expanding developing nations in the region.
Global Adalimumab Market: Competitive Landscape
To assess the competition prevailing in the global market for adalimumab, the report profiles major players such as Pfizer, Amgen, Novartis AG, Boehringer Ingelheim GmbH, Mylan N.V., and AbbVie. At present, the most prominent player in the market is Abbott Laboratories. However, after the split of Abbott laboratories into two companies in 2013, Humira is now the product of AbbVie.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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