Adalimumab Market to Undergo Substantial Growth through 2025
Rising prevalence of
arthritis & Crohn’s disease and increasing geriatric population to drive
global adalimumab market
According
to TechSci Research report, “Global
Adalimumab
Market By Type (Adalimumab, Adalimumab Biosimilar), By Type of Disease
(Rheumatoid Arthritis, Psoriatic Arthritis, Psoriasis, Crohn’s Disease,
Ulcerative Colitis), By Route of Administration (Parenteral, Others), By End
Users (Hospitals, Specialty Clinics, Others), By Distribution Channel (Hospital
Pharmacy, Retail Pharmacy, Others), By Region, Forecast & Opportunities,
2025”, the global adalimumab market
is expected to witness a significant CAGR during the forecast period owing to
increasing prevalence of arthritis around the world. The burgeoning elderly
population are acting as key factor behind the growing demand for adalimumab,
as most women suffer from arthritis during old age due to the loss of calcium
in their body. Furthermore, sedentary lifestyle is leading to another medical
condition called psoriasis, whose treatment requires adalimumab drugs. Manufacturers
are undergoing extensive clinical trials and R&D activities, which in turn is
fueling the growth of this market. With increasing investment and growth in
healthcare sector, global adalimumab market is expected to witness high growth
through 2025.
Additionally, the availability of well-structured
regulatory framework and reimbursement coverage provided in various countries
are boosting the growth of adalimumab market. Also, increasing stress and
immune system malfunction among a large number of population around the world
are propelling the demand for adalimumab. Moreover, adalimumab is used to cure moderate
to severe autoimmune inflammatory disorders. This is further expected to
augment the market growth in the coming years.
However, global adalimumab market might also face some
restrains. Patent expiry from many companies and increasing prices of
adalimumab might hamper the market growth during the forecast period.
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The global
adalimumab market is segmented based on type, type of disease, route of administration,
end users, distribution channel and region. Based on type, the market is
segmented into adalimumab and adalimumab biosimilar. Among them, adalimumab
biosimilar segment is expected to undergo fastest growth rate during the
forecast period owing to the introduction of new biosimilars in the market
which are highly effective in treating chronic diseases.
Based
on type of disease, the global adalimumab market is segmented into rheumatoid arthritis, psoriatic arthritis,
psoriasis, crohn’s disease and ulcerative colitis. Among them, the rheumatoid
arthritis accounted for largest share in 2019 owing to high prevalence among
elderly population. The segment is further expected to dominate the global
market through 2025 as more elderly women are getting prone to rheumatoid
arthritis.
Major players operating in the global adalimumab
market include Abbvie Inc., Pfizer Inc., Amgen Inc., Novartis AG, Mylan N.V.6,
Samsung Bioepis Co Ltd, Boehringer Ingelheim International GmbH, Merck &
Co., Inc., Cadila Healthcare Ltd., Hetero Healthcare Ltd., Bristol-Myers
Squibb, Hoffmann-La Roche Ltd., Glenmark Pharmaceuticals and Torrent
Pharmaceuticals Ltd. The companies are focusing on development of adalimumab
biosimilars for the treatment of rheumatoid arthritis and psoriasis.
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“The advanced
healthcare infrastructure and reimbursement coverage being provided in North
America is making the region most lucrative market for adalimumab manufacturers. North America
is followed by Europe where the availability of well-organized regulatory
framework is acting as key growth driver for adalimumab. However, Asia-Pacific is also evolving as a
profitable market owing to the increasing geriatric population in countries such
as India and China ,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Adalimumab Market By Type (Adalimumab,
Adalimumab Biosimilar), By Type of Disease (Rheumatoid Arthritis, Psoriatic
Arthritis, Psoriasis, Crohn’s Disease, Ulcerative Colitis), By Route of
Administration (Parenteral, Others), By End Users (Hospitals, Specialty
Clinics, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy,
Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global adalimumab
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global adalimumab market.
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