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Remicade Biosimilar Market Size, Trends, Analysis And Forecast 2024-2033
Remicade Biosimilar Market Size
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According to The Business Research Company's, The remicade biosimilar market size has grown exponentially in recent years. It will grow from $3.2 billion in 2023 to $3.99 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to introduction of remicade (infliximab), biotechnology advancements, biologics patent expiry, regulatory pathway establishment, healthcare cost pressures.
The remicade biosimilar market size is expected to see exponential growth in the next few years. It will grow to $9.1 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%. The growth in the forecast period can be attributed to patent expirations, rising demand for cost-effective therapies, biosimilar pipeline development, reimbursement policies, market consolidation. Major trends in the forecast period include physician prescribing behavior, biosimilar lifecycle management, biosimilar naming conventions, biosimilar interchangeability, biosimilar real-world evidence.
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Market Drivers and Trends:
The rise in the incidence of autoimmune diseases is expected to propel the growth of the remicade biosimilar market going forward. Autoimmune diseases are disorders in which the immune system mistakenly attacks and damages the body's tissues and organs. Remicade biosimilars are used in treating autoimmune diseases by providing an effective therapeutic option to manage the symptoms and reduce inflammation associated with these. For instance, in October 2021, according to the reports shared by the City University of London, a UK-based public university, in the UK, 7%, or 4 million people, were suffering from autoimmune diseases by 2021, and over 80 autoimmune illnesses were identified with increasing prevalence annually by 3-9%. Furthermore, in July 2021, according to the Cleveland Clinic, a US-based, non-profit academic medical center, autoimmune diseases affected 1 in 15 people, with 1.4 million individuals having Crohn's disease or ulcerative colitis, while 1 million people had lupus in 2021. Therefore, the rise in the incidence of autoimmune diseases is driving the growth of the Remicade biosimilar market.
Product innovation is a key trend gaining popularity in the Remicade biosimilar market. Major companies operating in the Remicade biosimilar market are developing innovative products to sustain their position in the market. For instance, in January 2023, Amgen Inc, a US-based biotechnology company, launched Amjevita, a biosimilar version of AbbVie's Humira, in the US, designed to be as safe and effective as the original drug. Amjevita is the first biosimilar to Humira and is expected to compete with Humira for market share. It is a biological drug used to treat various autoimmune diseases, including rheumatoid arthritis and Crohn's disease. It is one of the most expensive drugs in the world, generating billions of dollars in sales for AbbVie each year. Amjevita is expected to cost significantly less. In addition to saving money, Amjevita can also offer patients more treatment options.
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Major Key Players of the Market:
AbbVie Inc., Novartis AG, Amgen Inc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Biogen Inc., Organon & Co., Merck And Co. Inc., Janssen Biotech Inc., LG Chem Ltd., Nippon Kayaku Co. Ltd., Celltrion Inc., Nichi-iko Pharmaceutical Co. Ltd., Biocon Limited, Alvogen Inc, Synthon International Holding B.V., Coherus Biosciences Inc, Cardinal Health Inc, Genentech Inc., Alvotech S.A., MabPharm Ltd., Genor Biopharma Co. Ltd, Shanghai Biomabs Pharmaceuticals Co. Ltd., Samsung Bioepis Co. Ltd., Biocad Biopharmaceutical Co, EPIRUS Biopharmaceuticals Inc., Ranbaxy Laboratories Limited, BioXpress Therapeutics SA, Mabion S.A
Remicade Biosimilar Market 2024 Key Insights:
• The remicade biosimilar market size is expected to see exponential growth in the next few years. It will grow to $9.1 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%.
• Surge In Autoimmune Diseases Fuels Remicade Biosimilar Market Growth
• Innovative Biosimilar Launches Shape Remicade Market Landscape
• Europe was the largest region in the remicade biosimilar market in 2023
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• 100mg/10ml
• 500mg/50ml
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• Oncology Diseases
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• Synthon Pharmaceuticals
• LG Life Sciences
• Novartis (Sandoz)
• Celltrion
• Biocon
• Hospira
• Merck Serono (Merck Group)
• Biogen idec Inc
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