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Adalimumab Market - Emergence of Advanced Technologies and Global Industry Analysis 2023
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Adalimumab is a patented product of Abbott Biotechnology Ltd. was invented by Jochen G. Salfeld et al. Adalimumab is available in the market with the trade name of HUMIRA. The U.S. Food and Drug Administration (FDA) approved adalimumab for indications including Crohn's disease, psoriatic arthritis, ulcerative colitis, ankylosing spondylitis, plaque psoriasis, juvenile idiopathic arthritis and rheumatoid arthritis in December, 2002. HUMIRA is a parenteral formulation intended to inject subcutaneously. HUMIRA is available as a single use pre-filled syringe, single use pain and single use vial. Prefilled syringe and single use pens are available in 1ml quantity. While, single use vials are available in 2 ml quantity.
Rising prevalence of arthritis is one of the prime drivers for the growth of the global adalimumab market. Women population is at higher risk of arthritis owing to excess loss of body calcium as compared to male population. Further, increasing sedentary lifestyle is fueling the growth of arthritis prevalence globally. For instance, according to Centre of Disease Control and Prevention, the U.S., approximately 52.5 million adults in the U.S. are reported to have arthritis, rheumatoid arthritis, gout, lupus and fibromyalgia. While on the other hand, high cost is one of the major factors restraining the growth of the global adalimumab market.
Geographically, the global adalimumab market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). North America comprises adalimumab market for the U.S. and Canada. Europe comprises cumulative market of adalimumab in Germany, Italy, France, Spain, and Rest of Europe (RoE). Asia Pacific comprises cumulative market of adalimumab in China, India, Australia, New Zealand and rest of Asia Pacific (RoAPAC). Rest of the World (RoW) comprises adalimumab market in Latin America, Middle East and Russia. Presently, North America and Europe are leading the global adalimumab market. Factors such as availability of well structured regulatory framework, advanced healthcare infrastructure and reimbursement coverage are driving the adalimumab market in North America and Europe market.
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Asia Pacific adalimumab market is anticipated to show significant growth in the near future. Factors such as rapidly developing healthcare infrastructure, rising disposable income and government initiatives to strengthen healthcare sector in respective country are driving the adalimumab market in Asia Pacific. China and India account for one of the largest population pool in the world. Thus, geriatric population pool in these countries is expected to grow with passing time. Significant presence of geriatric population is anticipated to fuel the demand for anti-arthritis drugs.
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