Adalimumab, Infliximab, and Etanercept Biosimilars Market Trends 2024

"The Business Research Company recently released a comprehensive report on the Global Adalimumab, Infliximab and Etanercept Biosimilars Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The adalimumab, infliximab and etanercept biosimilars market size has grown exponentially in recent years. It will grow from $3.67 billion in 2023 to $4.41 billion in 2024 at a compound annual growth rate (CAGR) of 20.3%. The growth in the historic period can be attributed to increased healthcare expenditure, regulatory changes, regulatory changes, government initiatives and rising healthcare costs..

The adalimumab, infliximab and etanercept biosimilars market size is expected to see rapid growth in the next few years. It will grow to $6.79 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to a rise in healthcare expenditure, aging population and an increase in healthcare access will drive market growth. . Major trends in the forecast period include focus on launching new products, focus on mergers and acquisitions, focus on establishing strategic partnerships and focus on increasing investments..

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Market Drivers and Trends:

The patent expiration of branded drugs allows biosimilars to enter the adalimumab, infliximab, and etanercept biosimilars market. For instance, in the United States, the FDA approved inflectra, developed by Hospira (a Pfizer Inc. company), for the treatment of various autoimmune diseases such as rheumatoid arthritis, adult ulcerative colitis, and plaque psoriasis, after the patent expiry of the branded drug Remicade. Similarly, Amgen's Enbrel had its patent expire in the EU, and with the expiry of the patent, Benepali (a biosimilar of Enbrel) was approved by the European Commission. Humira's patent expired, and its biosimilars were made available on the market. The FDA has recently (July 2020) approved Hulio, the sixth biosimilar of Humira. Therefore, the patent expiry of branded biologic drugs such as Humira, Enbrel, and Remicade will drive the adalimumab, infliximab, and etanercept biosimilars market demand.

The brand-name versions of biosimilar drugs have high costs, which are now being replaced with biosimilar versions upon their patent's expiry. The cost of branded biological drugs has almost doubled in recent years. For instance, the cost of Humira, the top-selling drug, increased to more than $72,000 in 2020. The shift to low-cost biosimilar drugs is mainly because there are no clinically relevant differences in safety and efficacy between the biosimilars and the original biologics. The Danish health care system switched almost entirely to adalimumab biosimilars after the patent on the original adalimumab product, Humira. The switch to biosimilars led to an 82% decrease in costs for the medication.

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Major Key Players of the Market:

Biogen, Novartis (Sandoz), Pfizer, Amgen, Celltrion, Samsung Bioepis (Samsung Biologics), Hetero Drugs Limited, Fresenius Kabi AG, Boehringer Ingelheim, Biocon, Zydus Lifesciences Limited, Reliance Life Sciences, Torrent Pharmaceuticals Ltd, Sun Pharmaceutical Industries Ltd, Cipla Limited, Zhejiang Hisun Pharmaceutical Co. Ltd, Bio-Thera Solutions, Ltd, Innovent Biologics (Suzhou) Co. Ltd, Janssen Biologics BV, Shanghai CP Guojian Pharmaceutical Co. Ltd, Sansheng Guojian, Shanghai Junshi Biosciences Co. Ltd, Mabwell Bioscience Co. Ltd, LG Chem, Nippon Kayaku, Mochida Pharmaceutical Co. Ltd, mAbxience, Allergan, Microgen, Geropharm, Valenta, NovaMedica Veropharm, Biocad, Roche, Bristol-Myers Squibb, Celon Pharma, SynBio, Celgene Corporation, AstraZeneca, Merck & Co, Gilead Sciences, Regeneron Pharmaceuticals, Rani Therapeutics, Eli Lilly and Company, Emisphere Technologies Inc, Enteris BioPharma, Allena Pharmaceuticals, Abbvie, Johnson & Johnson, Ache, Eurofarma, Sanofi, Teva Pharmaceuticals, Oramed Pharmaceuticals, Entera Bio, Julphar, Hikma Pharmaceuticals, Mylan, BIOPHARMA-MEA, NeoTX, AID Genomics Limited, Altis Biologics, Cipla Medpro South Africa, Next Biosciences, Viome, Inqaba Biotechnical Industries (Pty) Ltd

Adalimumab, Infliximab and Etanercept Biosimilars Market 2024 Key Insights:

• The adalimumab, infliximab and etanercept biosimilars market size is expected to see rapid growth in the next few years. It will grow to $6.79 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%.
• Impact Of Patent Expirations On The Biosimilars Market For Adalimumab, Infliximab, And Etanercept
• Cost Considerations Driving Adoption Of Biosimilar Drugs After Patent Expiry
• North America was the largest region in the adalimumab, infliximab and etanercept biosimilars market in 2023

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