Press release
Global HUMIRA (Adalimumab Drug) Market Size To Grow At A CAGR Of 1% During The Forecast Period Of 2023-2031
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
HUMIRA (Adalimumab Drug) Market Size, Share, Trends, Industry Report, Key Players, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2016-2031)
Forecast CAGR (2023-2031): 1%
The HUMIRA (Adalimumab drug) market is driven by several factors, including an increasing prevalence of autoimmune diseases such as rheumatoid arthritis and psoriasis, as well as a growing ageing population. HUMIRA is a biologic drug that is used to treat a variety of autoimmune conditions, and its effectiveness in treating these conditions has led to its widespread use and popularity among patients and healthcare providers. Additionally, the increasing adoption of biologic drugs in the treatment of autoimmune diseases is also driving the market growth.
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Another key driver of the HUMIRA market is the increasing availability of biosimilars, which are cheaper alternatives to the original drug. This has led to a decrease in the cost of treatment for patients, making it more accessible to a larger population. The increasing use of advanced technologies for the development and production of biologic drugs is also driving market growth.
Moreover, the increasing R&D activities and the launch of new drugs in the market are also expected to drive the HUMIRA market in the coming years. The rising awareness among people regarding the availability of effective treatments for autoimmune diseases is also expected to drive the market growth.
However, the market growth may be hindered by the high cost of treatment and the availability of alternative treatments. Additionally, the risk of side effects associated with the use of HUMIRA may also affect market growth. Nevertheless, the increasing demand for more effective treatments for autoimmune diseases is expected to drive the market growth in the forecast period.
HUMIRA (Adalimumab Drug) Market Segmentation
HUMIRA (adalimumab) is a biologic medication that is used to treat a variety of inflammatory conditions, such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and inflammatory bowel disease. It works by blocking a specific protein, called tumour necrosis factor (TNF), which is involved in the inflammatory process. HUMIRA is administered by injection under the skin, usually once or twice a month, depending on the condition being treated. It is a prescription medication and should only be used under the guidance of a healthcare provider.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/humira-adalimumab-drug-market
Market Breakup by Indication
Rheumatoid Arthritis
Ankylosing Spondylitis
Chronic Plaque Psoriasis
Crohn's Disease
Ulcerative Colitis
Psoriatic Arthritis
Others
Market Breakup by Type
Biologics
Biosimilars
Adalimumab-ATTO
Adalimumab-BWWD
Adalimumab-ADBM
Adalimumab-ADAZ
Adalimumab-FKJP
Adalimumab-AFZB
Others
Market Breakup by Dosage Strength
40MG/0.4ML
80MG/0.8ML
20MG/0.4ML
10MG/0.1ML
Others
Market Breakup by Drug Type
Branded
Generics
Amjevita
Hyrimoz
Hulio
Others
Market Breakup by Route of Administration
Parenteral
Oral
Others
Market Breakup by Distribution Channels
Hospital Based Pharmacies
Online Pharmacies
Retail Pharmacies
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
HUMIRA (Adalimumab Drug) Market Trends
In recent years, the market for HUMIRA has seen significant growth due to an increase in the number of patients being diagnosed with these conditions, as well as the drug's effectiveness in treating them.
In 2020, AbbVie, the manufacturer of HUMIRA, announced that it had reached a settlement agreement with several generic drug manufacturers, allowing them to begin selling biosimilars of the drug in the United States starting in 2023. This is expected to lead to significant price reductions for HUMIRA, making it more affordable for patients.
In addition, AbbVie has also been working to expand the indications for HUMIRA, such as gaining FDA approval for its use in treating paediatric patients with uveitis, a form of eye inflammation. This further expands the potential patient population for the drug.
Furthermore, the company has also been developing new formulations of HUMIRA, such as a self-injectable pen and a subcutaneous injection, to make administration of the drug more convenient for patients.
Overall, the HUMIRA market is expected to continue to grow in the coming years, driven by increasing patient population, the drug's effectiveness, and new formulations and indications. However, the market is also expected to face increased competition from biosimilars, which is likely to lead to price reductions for the drug.
Competitive Landscape of HUMIRA (Adalimumab Drug) Market
The major players in the market report are AbbVie Inc., Amgen Inc., Fresenius Kabi AG, Celltrion Healthcare Co Ltd, Alvotech Ehf., Bio-Thera Solutions Ltd., Zydus Lifesciences Limited, Hetero Healthcare Ltd., Innovent Biologics, Inc., Novartis International AG (Sandoz), Reliance Life Sciences Pvt. Ltd., Terumo Corp., Torrent Pharmaceuticals Ltd., and Samsung C&T Corporation. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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