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| Humira Biosimilar Market |
The Humira biosimilar market has shown significant growth in recent years. Humira, developed by AbbVie Inc., is a monoclonal antibody used for the treatment of several inflammatory diseases like rheumatoid arthritis, psoriasis, ulcerative colitis and Crohn's disease. Being an injectable drug, Humira has gained immense popularity among patients and healthcare professionals as it helps reduce disease symptoms and slows progression. The patent for Humira is expected to expire in late 2023 in Europe and 2023 in the US, which will allow other companies to develop cheaper biosimilar versions.
The
Global Humira Biosimilar Market is estimated to be valued at US$ 889.46 Bn in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Humira biosimilar market are Nestlé S.A., Groupe
Danone, Abbott Nutrition, Mead Johnson Nutrition, The Kraft Heinz Company,
Meiji Holdings Co. Ltd., Beingmate Baby & Child food Co. Ltd., Synutra
International Inc., Pfizer Inc., and FrieslandCampina. N.V. These key players
are investing heavily in research and development of Humira biosimilars to gain
a significant share of the market. In addition, many of these players have
formed strategic collaborations with smaller biotech companies for technology
and knowledge sharing.
The patent expiration of Humira
Biosimilar Market Size in major markets presents lucrative
opportunities for biosimilar manufacturers by offering the treatment at much
lower costs. It is estimated that biosimilars could save the U.S. healthcare
system over $54 billion. Further, the increasing prevalence of chronic
inflammatory diseases across regions is anticipated to drive the demand for
affordable biosimilar drugs.
Key players have expanded their global footprint through new product launches,
acquisitions and partnerships. For instance, in 2021 Nestlé Health Science
acquired manufacturing facility and portfolio of Zenpep from Allergan to
strengthen its position in the medical nutrition market.
Market Drivers
- Robust drug pipeline from biosimilar companies: There are over 30
biosimilar pipeline drugs in development with anticipated launch between 2023
to 2025 which will increase market competition and drive prices down.
- Patent expiry of Humira: The patent protection for Humira will expire in
late 2023 in Europe and 2023 in the US, allowing other companies to introduce
affordable biosimilar versions in the market.
Market Restrains:
- Manufacturing complexities:
Biosimilars are complex molecules to manufacture owing to their large size and
resemblance to living cells. Achieving molecular imitation requires extensive
manufacturing optimization.
- Interchangeability challenges:
Regulatory standards for automatic substitution of biosimilars are still
evolving. This limits the uptake of biosimilars to some degree in place of
originator biologics.
Segment Analysis
The Humira biosimilar market can be segmented based on application as
rheumatoid arthritis, crohn's disease, psoriasis and others. The rheumatoid
arthritis segment currently dominates the market, accounting for over 30%
share. This is because Humira is approved for the treatment of moderate to
severe rheumatoid arthritis and it has been very effective in reducing the
signs and symptoms such as pain, swelling and joint damage of rheumatoid
arthritis.
Regional Analysis
The North America region holds the major share of the global Humira biosimilar
market and is expected to maintain its dominance during the forecast period.
This is attributed to the well-developed healthcare infrastructure and higher
healthcare spending. Furthermore, presence of key players and early adoption
ofHumira biosimilars is also boosting the market growth. The Asia Pacific
region is poised to grow at fastest pace owing to growing population suffering
from autoimmune diseases, improving access to care and increasing focus of key
players to tap the potential in emerging countries of this region.
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Biosimilar Market
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