The Humira biosimilar market has shown significant growth in recent years. Humira, developed by AbbVie Inc., is a monoclonal antibody used for the treatment of several inflammatory diseases like rheumatoid arthritis, psoriasis, ulcerative colitis and Crohn’s disease. Being an injectable drug, Humira has gained immense popularity among patients and healthcare professionals as it helps reduce disease symptoms and slows progression. The patent for Humira is expected to expire in late 2023 in Europe and 2023 in the US, which will allow other companies to develop cheaper biosimilar versions.
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.
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 key players are investing heavily in research and development of Humira biosimilars to gain a significant share of the market. In addition, many of these players have formed strategic collaborations with smaller biotech companies for technology and knowledge sharing.
The patent expiration of Humira Biosimilar Market Size in major markets presents lucrative opportunities for biosimilar manufacturers by offering the treatment at much lower costs. It is estimated that biosimilars could save the U.S. healthcare system over $54 billion. Further, the increasing prevalence of chronic inflammatory diseases across regions is anticipated to drive the demand for affordable biosimilar drugs.
Key players have expanded their global footprint through new product launches, acquisitions and partnerships. For instance, in 2021 Nestlé Health Science acquired manufacturing facility and portfolio of Zenpep from Allergan to strengthen its position in the medical nutrition market.
Market Drivers:
– Robust drug pipeline from biosimilar companies: There are over 30 biosimilar pipeline drugs in development with anticipated launch between 2023 to 2025 which will increase market competition and drive prices down.
– Patent expiry of Humira: The patent protection for Humira will expire in late 2023 in Europe and 2023 in the US, allowing other companies to introduce affordable biosimilar versions in the market.
Market Restrains:
– Manufacturing complexities: Biosimilars are complex molecules to manufacture owing to their large size and resemblance to living cells. Achieving molecular imitation requires extensive manufacturing optimization.
– Interchangeability challenges: Regulatory standards for automatic substitution of biosimilars are still evolving. This limits the uptake of biosimilars to some degree in place of originator biologics.
Segment Analysis
The Humira biosimilar market can be segmented based on application as rheumatoid arthritis, crohn’s disease, psoriasis and others. The rheumatoid arthritis segment currently dominates the market, accounting for over 30% share. This is because Humira is approved for the treatment of moderate to severe rheumatoid arthritis and it has been very effective in reducing the signs and symptoms such as pain, swelling and joint damage of rheumatoid arthritis.
Regional Analysis
The North America region holds the major share of the global Humira biosimilar market and is expected to maintain its dominance during the forecast period. This is attributed to the well-developed healthcare infrastructure and higher healthcare spending. Furthermore, presence of key players and early adoption ofHumira biosimilars is also boosting the market growth. The Asia Pacific region is poised to grow at fastest pace owing to growing population suffering from autoimmune diseases, improving access to care and increasing focus of key players to tap the potential in emerging countries of this region.
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