Humira Biosimilar Market is Anticipated to Witness High Growth Owing to Patent Expiry of Reference Drug
The humira biosimilar market consists of biosimilar versions of the reference biologic drug Humira (adalimumab). Humira is indicated for the treatment of various autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis and others. The introduction of biosimilar versions of Humira provides a more cost effective treatment option for patients suffering from these chronic conditions.
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 2030.
Key Takeaways
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. These players are focused on expanding their product portfolio and global presence through mergers and acquisitions.
The patent expiry of the reference drug Humira in several regions including the US and Europe in 2023 opens up lucrative growth opportunities for biosimilar manufacturers to gain market share. Various biosimilar versions such as Idacio, Hulio and Hadlima have already been launched in international markets and are expected to capture a significant share.
The global expansion of key players into emerging markets of Asia Pacific, Latin America and Middle East & Africa through regional production facilities and distribution networks will further support market growth during the forecast period.
Market drivers
The key driver favoring growth of the humira biosimilar market is the patent expiry of the reference biologic drug Humira. As Humira loses exclusivity in major pharmaceutical markets between 2022-2023, it provides opportunities for entry of biosimilar versions offering similar efficacy but at a significantly lower price. This significantly expands market access and facilitates treatment of larger patient pool globally.
Market restraints
Establishing biosimilarity and interchangeability with the reference product poses a major challenge for biosimilar manufacturers due to complexities in biosimilar development and strict regulatory approvals. Additionally, brand loyalty for the reference drug coupled with patient hesitancy regarding efficacy of biosimilars continue to restrain replacement of Humira with biosimilars to a certain extent.
Segment Analysis
The Humira biosimilar market can be segmented based on drug, distribution channel and region. Based on drug, the anti-TNF segment currently holds the largest market share as anti-TNF drugs are dominating conventional drugs for treating various autoimmune conditions. rheumatoid arthritis is the largest sub-segment under anti-TNF segment as Humira drug is most widely used to treat rheumatoid arthritis.
Global Analysis
Regionally, North America currently accounts for the largest share in the global Humira biosimilar market due to favorable reimbursement policies and growing target patient population in the region for conditions like rheumatoid arthritis. However, Asia Pacific region is expected to witness highest growth during the forecast period due to increasing healthcare expenditure, rising awareness about biosimilars and growing generic drugs market in the region. Key players are focusing on emerging markets in Asia Pacific region for future business opportunities.
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