Global Adalimumab Biosimilar Market – Industry Trends and Forecast to 2030

Global Adalimumab Biosimilar Market, By Product (Exemptia, Adalirel, Cipleumab, Others), Indication (Rheumatoid Arthritis, Juvenile Idiopathic Arthritis, Psoriatic Arthritis, Other Indications), Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacy, Others) – Industry Trends and Forecast to 2030.

Adalimumab Biosimilar Market Analysis and Size

According to GLOBOCAN 2020, there will be 2,281,658 new cancer cases and nearly 612,390 deaths in the United States in 2020. Furthermore, key market participants predicted market growth over the forecast period through various strategic activities such as product launches, mergers, and acquisitions. For instance, in July 2021, the FDA approved Viatris Inc.'s (formerly Mylan Pharmaceuticals Inc.) SEMGLEE (insulin-glargine-yfgn), a biosimilar to LANTUS (insulin glargine).

Data Bridge Market Research analyses that the adalimumab biosimilar market which is USD 598.30 million in 2022, is expected to reach USD 3431.48 million by 2030, at a CAGR of 24.4% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Adalimumab Biosimilar Market Scope and Segmentation      

Market Definition

Adalimumab, a monoclonal antibody, is used to treat autoimmune diseases such as rheumatoid arthritis and ulcerative colitis, among others. This medication helps to prevent future joint damage and maintain joint function by reducing joint swelling. As the global prevalence of arthritis rises, the market for adalimumab biosimilars is expected to grow during the forecast period.

Adalimumab Biosimilar Market Dynamics

Drivers

• Rise in biologic drugs

Several blockbuster biologic drugs from major pharmaceutical companies, including Truvada, Chantix, Forteo, Ciprodex, Afinitor, and many others, will lose US exclusivity in 2020. Several existing biological drugs, such as Erbitux, Avastin, and Orencia, will have their patents expire in the coming decade, providing an opportunity for many innovator companies as well as generic manufacturers to offer services specifically tailored toward biosimilars. Furthermore, the cost-effective nature of biosimilars, rising acceptance and adoption by various stakeholders, the need for diversification in technology and business models, and the growing prevalence of chronic diseases are expected to drive the global biosimilar market.

Opportunities

• Rising cancer cases

Cancer's growing burden and rising death toll necessitate the need for affordable treatment, boosting the growth of the biosimilar market. According to GLOBOCAN 2020, there will be 2,281,658 new cancer cases and nearly 612,390 deaths in the United States in 2020. Furthermore, key market participants predicted market growth during the forecast period through a variety of strategic activities such as product launches, mergers, and acquisitions. For instance, in July 2021, the FDA approved Viatris Inc.'s (formerly Mylan Pharmaceuticals Inc.) SEMGLEE (insulin-glargine-yfgn), a biosimilar to LANTUS (insulin glargine).

Restraints/Challenges

• High cost

The high cost associated with biosimilars will obstruct the market's growth rate. However, the global adalimumab biosimilar market is hampered by a scarcity of skilled specialists. Furthermore, factors such as high temperature sensitivity, lack of efficacy and safety, and high manufacturing costs associated with generic drugs are expected to limit market growth between 2022 and 2030.

This adalimumab biosimilar market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the adalimumab biosimilar market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Adalimumab Biosimilar Market Scope

The adalimumab biosimilar market is segmented on the basis of product and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Exemptia
• Adalirel
• Cipleumab
• Others

Distribution Channel

• Hospitals Pharmacies
• Retail Pharmacies
• Others

Adalimumab Biosimilar Market Regional Analysis/Insights

The adalimumab biosimilar market is analyzed and market size insights and trends are provided by country, product and distribution channel as referenced above.

The countries covered in the adalimumab biosimilar market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the adalimumab biosimilar market due to the proximity of multiple extensive experimentation laboratories.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the province's extensive commercial advancements and growing biotechnology corporations.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Adalimumab Biosimilar Market Share Analysis

The adalimumab biosimilar market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to adalimumab biosimilar market.

Some of the major players operating in the adalimumab biosimilar market are:

• Alfred E. Tiefenbacher (GmbH & Co. KG) (Germany)
• Amgen Inc. (U.S.)
• Boehringer Ingelheim International GmbH (Germany)
• Glenmark (India)
• Zydus Group (India)
• Torrent Pharmaceuticals Ltd. (India)
• Reliance Life Sciences (India)
• Emcure Pharmaceuticals Ltd (India)
• Cipla Inc. (India)
• Hetero (India)
• AET BioTech (Germany)
• Coherus Biosciences (U.S.)
• Fujifilm Kyowa Kirin Biologics Co. Ltd. (Japan)
• Momenta Pharmaceuticals (U.S.)
• Oncobiologics (U.S.)
• Pfizer Inc. (U.S.)
• Samsung Bioepsis (South Korea)
• Sandoz International GmbH (Switzerland)