Humira Biosimilar Market Is Estimated To Witness High Growth |...

Humira Biosimilar Market Is Estimated To Witness High Growth

Сообщение 2023-10-27 11:11:16

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The Humira Biosimilar Market is estimated to be valued at US$ 772.1 Million In 2023 and is expected to exhibit a CAGR of 25.9% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Humira is a monoclonal antibody used to treat autoimmune diseases such as rheumatoid arthritis, Crohn's disease, ulcerative colitis, psoriatic arthritis, plaque psoriasis, axial spondyloarthritis, and pediatric Crohn's disease. Biosimilars of Humira are expected to provide a cheaper alternative to treat such diseases, increasing accessibility to the treatment.

Market Dynamics:
The growing number of biosimilar approvals from regulatory authorities is expected to significantly boost the growth of the humira biosimilar market over the forecast period. For instance, in December 2021, the FDA approved Amneal Pharmaceuticals' AB-rated biosimilar to Humira known as Ziextenzo. This approval expanded treatment options for conditions including rheumatoid arthritis and plaque psoriasis. Moreover, increasing accessibility due to lower prices of biosimilars as compared to reference biologics is another major factor propelling the Humira Biosimilar Market growth. With increasing patent expiries of blockbuster biologics such as Humira, more manufacturers are expected to launch affordable biosimilars, making biologic treatment accessible to a larger patient pool globally.