The Business Research Company’s Adalimumab, Infliximab, and Etanercept Biosimilars Market research report highlights key drivers, trends, and growth opportunities in the market.
LONDON, July 19, 2022 /PRNewswire/ — Big pharmaceutical companies are investing more in the adalimumab, infliximab and etanercept biosimilars market with the potential to generate higher profits. These investments have been made through the development of biological and biosimilar manufacturing facilities and through mergers and acquisitions. For example, Pfizer, an American multinational pharmaceutical and biotechnology company, invested almost 350 million dollars on the development of a state-of-the-art global biotechnology center in the Hangzhou Economic Development Area (HEDA) in China. Pfizer provides support of China It aims to improve the complexity and value of its manufacturing sector by 2025 and help build a truly innovative and dynamic biopharmaceutical industry.
The global market size for adalimumab, infliximab and etanercept biosimilars is expected to grow $3.10 billion in 2021 to $4.76 billion in 2022 at a compound annual growth rate (CAGR) of 53.4%. The biosimilar market for adalimumab, infliximab and etanercept is expected to be reached $18.61 billion in 2026 at a CAGR of 40.6%.
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The aging population is a key driver for the market
The population profile of most countries is aging, increasing the demand for the treatment and diagnosis of various diseases, including arthritis. The number of people over 65 years of age has increased worldwide, and age-related chronic diseases have also increased. For example in Japanthe proportion of seniors is expected to increase from 28% in 2019 to 38% in 2050. According to a study by the National Statistics Office (NSO) in India, from 2011 to 2021, the general population increased by 12.4 percent, while the elderly population increased by 35.8 percent. Globally, the proportion of the population aged 65 and over has increased from 6 percent in 1990 to 9 percent in 2019. This proportion is projected to further increase to 16 percent by 2050, which equates to one in six people in the world being 65 years of age or older.
Western Europe is the largest region in the market
Western Europe was the largest region in the biosimilars market for adalimumab, infliximab and etanercept and was worth $2.38 billion in 2021. The market for adalimumab, infliximab and etanercept biosimilars in Western Europe is supported by the large geriatric population, high health care spending and government support for new research and development. For example, in 2020 the UK government announced plans to invest £24 billion ($27.85 billion) per year in R&D through 2024-25 to help pharmaceutical companies develop new medicines.
Adalimumab, Infliximab and Etanercept Biosimilars Market Segmentation
The Global Adalimumab, Infliximab and Etanercept Biosimilars Industry report is segmented into Segments:
1) By product: Adalimumab biosimilars (Exemptia, Mabura, Hyrimoz, Hadlima, Abrilada, others), Infliximab biosimilars (Inflectra, Renflexis, Ixifi, Avsola), Cipleumab (Erelzi, Eticovo)
2) After application: Crohn’s disease, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, ankylosing spondylitis, plaque psoriasis, others
3) By sales channel: hospital pharmacies, retail pharmacies, online pharmacies
For more information, see Adalimumab, Infliximab, and Etanercept Biosimilars Market Report
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