July 23, 2024
Humira Biosimilar Market

The Humira biosimilars market is estimated to be valued at US$ 772.1 Million In 2023 and is expected to exhibit a CAGR of 25.9% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Humira (adalimumab) is a monoclonal antibody used for the treatment of several autoimmune diseases such as rheumatoid arthritis, Crohn’s disease, ulcerative colitis, psoriatic arthritis, ankylosing spondylitis, juvenile idiopathic arthritis. It blocks tumor necrosis factor alpha (TNF-α), thus reducing inflammatory responses. The introduction of Humira biosimilars provides more affordable treatment options for patients living with autoimmune conditions.

Market Dynamics:

The global Humira biosimilars market is driven by increasing prevalence of autoimmune diseases and rising healthcare expenditures. It is estimated that around 1% of the global population suffers from rheumatoid arthritis. Similarly, inflammatory bowel diseases including Crohn’s disease and ulcerative colitis collectively affect over 10 million people worldwide. With no available cure, lifelong treatment with drugs like Humira poses high costs. This has boosted the demand for Humira biosimilars which offer nearly identical therapeutic effect at lower prices. Additionally, growing geriatric population prone to chronic conditions is further propelling the market growth. However, patent protection and market exclusivity for Humira till 2023 poses a challenges for biosimilar manufacturers to gain foothold in the market. Nevertheless, with patent expiry and increasing uptake, Humira biosimilars are projected to capture a considerable market share over the forecast period.

Segment Analysis

The global Humira Biosimilar Market biosimilar market is segmented based on molecule type, indication, distribution channel, and geography. The molecule type segment is further divided into innovator and biosimilar. Among these, the biosimilar segment dominates the market and holds the largest market share. This is because biosimilars offer cost-effective treatment alternatives as compared to biologics with similar therapeutic effects.

PEST Analysis

Political: Government regulations supporting the development and adoption of biosimilars are expected to boost market growth. Economic: Lower costs of biosimilars make them more affordable for patients, facilitating higher treatment uptake and market revenue. Social: Growing awareness about biosimilars and their benefits is positively impacting the market. Technological: Advancements in production technologies are enhancing manufacturing efficiencies of biosimilars.

Key Takeaways

The global Humira biosimilar market is expected to witness high growth, exhibiting a CAGR of 25.9% over the forecast period, due to increasing penetration of biosimilars. Regionally, North America is expected to dominate the market during the analysis period, owing to the rising research and development activities and growing adoption of biosimilars in the region.

Key players operating in the Humira biosimilar market are Amgen Inc., Samsung Bioepis Co., Ltd., Sandoz International GmbH (Novartis AG), Mylan N.V., Boehringer Ingelheim International GmbH, Pfizer Inc., Fresenius Kabi AG, Coherus BioSciences, Inc., Biogen Inc., AbbVie Inc., Celltrion Inc., Amneal Pharmaceuticals, Inc., Lupin Pharmaceuticals, Inc., Merck & Co., Inc., Viatris Inc.

The global Humira biosimilar market provides lucrative opportunities for players. Government initiatives supporting research and development of biosimilars are expected to fuel market revenue. Additionally, emerging markets in Asia Pacific and Latin America offer significant untapped potential.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it