February 26, 2024
Remicade Biosimilars Market

The Growing Demand For Biosimilars To Treat Autoimmune Diseases Is Anticipated To Openup The New Avenue For Remicade Biosimilars Market

Remicade biosimilars are monoclonal antibodies used to treat various autoimmune diseases such as rheumatoid arthritis, Crohn’s disease, ulcerative colitis, ankylosing spondylitis, and psoriatic arthritis. Remicade, developed by Janssen Biotech Inc., was the first fully human monoclonal antibody approved by the FDA for these indications. However, high costs associated with Remicade led to the development of biosimilar versions that are more affordable for patients. Biosimilar versions have an identical physical, biological and clinical properties to Remicade.

The Remicade Biosimilars Market is estimated to be valued at US$ 3,007.28 Mn in 2023 and is expected to exhibit a CAGR of 35% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the major drivers propelling the growth of the remicade biosimilars market is the increasing prevalence of autoimmune diseases globally. According to the National Institute of Arthritis and Musculoskeletal and Skin Diseases, around 23.5 million Americans had doctor-diagnosed arthritis as of 2015. Similarly, as per Crohn’s and Colitis Foundation, around 3 million Americans suffer from inflammatory bowel diseases namely Crohn’s disease and ulcerative colitis. This growing patient pool opens new opportunities for low-cost biosimilar drugs.

Secondly, the patents of Remicade are set to expire in major markets providing opportunities for other companies to enter the market with biosimilar versions at lower prices. For instance, the Remicade patent expired in the U.S. in 2016 and in the EU in 2018. This expiration has allowed multiple companies to launch affordable biosimilar versions of Remicade thereby increasing treatment access and fueling market growth.

Segment Analysis
The Remicade biosimilars market is currently dominated by the rheumatology segment. The segment accounts for over 40% of the total market share owing to the widespread adoption of Remicade in treating various autoimmune disorders like rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. According to clinical studies, Remicade has proven to be effective in inducing and maintaining clinical response and remission in patients with moderately to severely active rheumatoid arthritis.

PEST Analysis
Political: The government policies in various countries are encouraging the development and adoption of biosimilars as a means to provide affordable treatment options to a large population. Some countries offer incentives and price preferences to biosimilars.
Economic: The patent expiry of key biological drugs and the need to control rising healthcare budgets is driving the demand for low-cost biosimilars. The cost savings of biosimilars help in improving access to treatment.
Social: Growing aging population and increasing incidence of autoimmune diseases are increasing the need for affordable treatment options. Biosimilars provide a treatment alternative to biologics for patients.
Technological: Advancements in analytical techniques allow accurate characterization of biosimilars, giving confidence to healthcare professionals regarding their efficacy and safety. This will further boost adoption.

Key Takeaways
Global Remicade Biosimilars Market Demand is expected to witness high growth at a CAGR of 35% over the forecast period of 2023 to 2030, driven by the patent expiry of Remicade and a subsequent robust launch of its biosimilar versions. The market size is projected to reach US$ 30.07 Bn by 2030 from US$ 3.007 Bn in 2023.

From a regional perspective, Europe is expected to dominate the global market during the forecast period. Factors such as high incidence of autoimmune diseases, established regulatory guidelines for biosimilars approval, and significant cost savings achieved through biosimilars are supporting the growth.

Key players operating in the Remicade biosimilars market are Janssen Biotech Inc., Merck &Co., Pfizer Inc., Celltrion Inc., Alvogen, Napp Pharmaceuticals, and Nippon Kayaku. These companies are focusing on expanding their product portfolios and global presence through strategic partnerships and collaborations. For instance, in 2020, Janssen Biotech Inc. and Samsung Bioepis entered into a global agreement to develop and commercialize multiple biosimilars including Remicade.

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