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Global Adalimumab Biosimilar Market Report, Size, Share, Growth, Analysis, Industry Demand and Forecast 2024-2032
According to the report by Expert Market Research (EMR), the global adalimumab biosimilar market size is projected to grow at a CAGR of 17.60% between 2024 and 2032. Aided by the original product's patent expiration, the market is expected to grow significantly by 2032.
Adalimumab, initially marketed under the brand name Humira, is a biologic medication used primarily for treating various inflammatory conditions such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, and ulcerative colitis.
One of the most compelling factors for the burgeoning adalimumab biosimilar market demand is their cost-effectiveness. Biosimilars are typically priced lower than their branded counterparts, making them more accessible to a broader patient population. This affordability is particularly significant in regions with limited healthcare budgets.
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The rising incidence of autoimmune and inflammatory diseases globally fuels the demand for effective and affordable treatment options. Adalimumab biosimilars, owing to their therapeutic efficacy, are increasingly becoming the preferred choice for managing these conditions.
As per the adalimumab biosimilar market analysis, the endorsement and approval of Adalimumab Biosimilars by regulatory authorities like the FDA (U.S. Food and Drug Administration) and EMA (European Medicines Agency) have bolstered their credibility and adoption. The regulatory support, coupled with streamlined approval processes for biosimilars, is a vital factor in market growth.
Geographically, the market is witnessing significant growth across various regions. Europe currently accounts for a significant portion of the adalimumab biosimilar market share, attributed to early patent expirations and a more receptive regulatory environment. North America, particularly the United States, is expected to see a surge in market growth in the forecast period, coinciding with the patent expiration of Humira in the country. The Asia-Pacific region is also showing promising growth, driven by increasing healthcare expenditure and the rising prevalence of autoimmune diseases.
Looking ahead, the market is poised for substantial growth. The increasing acceptance and adoption of biosimilars in clinical practice, combined with supportive regulatory frameworks and the need for cost-effective treatment options, are expected to drive the market forward. Innovations in manufacturing processes and the development of next-generation biosimilars with enhanced efficacy and reduced side effects are likely to shape the future of this market.
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/adalimumab-biosimilar-market
Adalimumab Biosimilar Market Segmentation
The market can be divided based on product, distribution channel, and region.
Market Breakup by Product
Exemptia
Adalirel
Cipleumab
Others
Market Breakup by Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Adalimumab Biosimilar Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global adalimumab biosimilar market. Some of the major players explored in the report by Expert Market Research are as follows:
Alfred E. Tiefenbacher (GmbH & Co. KG)
Amgen Inc.
Boehringer Ingelheim Pharmaceuticals, Inc.
Glenmark Pharmaceuticals Limited
Cadila Pharmaceuticals Ltd.
Torrent Pharmaceuticals Ltd.
Reliance Life Sciences Private Limited
Others
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