Humira Biosimilar Market Development Accelerated By Expanding Healthcare Spending
Humira Biosimilar Market
Humira is a biologic treatment for chronic inflammatory diseases such as
rheumatoid arthritis, psoriatic arthritis and Crohn's disease. As a biosimilar
of Humira, Humira biosimilars hold therapeutic equivalence to the branded
reference product Humira with regards to quality, safety and efficacy. The
growing prevalence of chronic diseases and increasing healthcare spending on
biologics have created significant demand for affordable treatment options like
Humira biosimilars.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Humira Biosimilar Market is the
patent expiry of Humira and the subsequent launch of its biosimilars. Humira's
patents for treating rheumatoid arthritis expired in Europe in 2018 allowing
the approval of several biosimilar versions. In the United States, Humira's
patents protecting its core monoclonal antibody will start expiring in 2023.
This will open the floodgates for biosimilar competition and significantly
drive the market growth over the forecast period. The increasing adoption of
biosimilars due to their comparable effectiveness and substantially lower costs
compared to branded biologics will remain a major factor shaping the market in
the coming years.
Segment
Analysis
The global Humira biosimilar market is dominated by the autoimmune segment,
which accounts for over 60% share. Humira is used for treating various
autoimmune conditions such as rheumatoid arthritis, psoriatic arthritis,
Crohn's disease and ulcerative colitis. As these diseases have a large patient
pool globally, the autoimmune segment dominates the market for Humira
biosimilars.
Key Takeaways
The Global Humira Biosimilar Market Demand is
expected to witness high growth.
Regional
analysis:
The
North America region currently dominates the global Humira biosimilar market
with over 40% share. This is because the US has FDA approval and commercial
launch of various Humira biosimilars. The Europe region is the second largest
market for Humira biosimilars. However, the Asia Pacific region is poised to
grow at the fastest rate during the forecast period due to rising incidence of
autoimmune disorders, increasing access to treatment and growing acceptance of
biosimilars in major markets of China, India and Japan.
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. Humira biosimilars
from Sandoz, Amgen and Boehringer Ingelheim have gained significant market
share after receiving approval and commercial launches in the US and European
markets. These companies are further investing in expanding their product
offerings and growing market presence globally.
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