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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