The TNF Inhibitors Market studied was anticipated to grow with a CAGR of nearly 9.5%, during the forecast period. The major factors attributing to the growth of the market are the rise in the global prevalence of autoimmune disorders such as (RA) Rheumatoid Arthritis, Inflammatory Bowel Disorder, Psoriasis, and Crohn’s disease coupled by the increase in aged population. For instance, in 2015, according to CDC, about 3 million adults of the United States were diagnosed with IBD demanding the treatment which fuels the market. There are few more factors that play pivotal role in taking the market to the next level such as approval of blockbuster products in recent years and strong pipeline which is expected to fuel the TNF inhibitors across the forecast period.
Key Market Trends
Adalimumab in Drug Class Segment is Expected to Hold the Largest Market Share in the TNF Inhibitors Market
- Adalimumab is the first and only approved fully human monoclonal antibody by the US Food and Drug Administration for the treatment of rheumatoid arthritis under the brand name Humira. AbbVie launched its largest product Humira in 2003 which accounts for the highest revenue of the company every year and in 2018, USD 19.9 million of revenue fueling the market growth.
- Rheumatoid Arthritis accounts for the highest share in the TNF Inhibitors Market due to its high prevalence across the globe. Also, the RA is higher in women than in men, is expected to constitute about two-thirds of the overall patient population with arthritis, and it increases with age which is expected to propel the market throughout the market.
- By End-user, Hospital Pharmacies are expected to hold the largest share due to the availability of physicians and treatment at a single place. Also, the manufacturers of biosimilars plan to manage the availability of their products to as many hospitals and patients as possible to meet their higher requirements fueling the growth of the segment and contributing its share in global market revenue.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall TNF inhibitors market throughout the forecast period. The dominance is due to several factors such as well-established direct reimbursement policies and the availability of advanced healthcare infrastructure in the region. United States holds the largest market share due to accelerated drug approval initiative by USFDA which also favored the market growth in this region.
Next to North America, Europe has been the second-largest market for TNF inhibitors market fueled by the increased demand due to the rise in the geriatric population and with increased healthcare expenditure. Also, huge investments by the key players and continuous growth in R&D activities in the region are expected to its a significant share in the market revenue throughout the forecast period.
Asia Pacific is set to grow at the fastest rate during the forecast period, driven by the huge patient population in India and China for diseases such as IBD, Psoriasis, and Crohn’s disease. Also, an increase in the extent of government initiatives to the healthcare sector and ongoing research activities in the region will further stimulate the market growth in the region.
The TNF inhibitors market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some prominent players are acquiring the other companies to consolidate their market positions across the globe and while others are launching new products. For instance, Amgen added another blockbuster product, AVSOLA (infliximab-axxq) to its existing portfolio of biosimilar medications with the approval of the U.S. Food and Drug Administration (FDA) in December 2019. The AVSOLA was approved for all indications of chronic inflammatory conditions as of the reference product, Remicade (infliximab) which is expected to boost the market throughout the forecast period. Some of the companies which are currently dominating the market are Abbvie Inc, Pfizer Inc, Johnson & Johnson, Amgen Inc, and UCB Inc.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Global Prevalence of Autoimmune Disorders and Rise in Geriatric Popuation
4.2.2 New Product Launches of Biosimilars with Accelerated Drug Approval Initiative by USFDA
4.3 Market Restraints
4.3.1 High Risk of Complications such as Heart Failure, Liver Injury, Neurological Disorders, Psoriasis and many Allergic Reactions
4.3.2 High Challenges while in the Development Stage and Expensive Patented Biologics
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.2 By Indication
5.2.1 Rheumatoid Arthritis
5.2.2 Crohn's Disease
5.3 By End-user
5.3.1 Hospital Pharmacies
5.3.2 Specialty Pharmacies
5.3.3 Online Pharmacies
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.4.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6.1.1 UCB Inc
6.1.2 Pfizer Inc
6.1.3 Amgen Inc
6.1.4 AbbVie Inc
6.1.5 Johnson & Johnson
6.1.6 F. Hoffmann-La Roche AG
6.1.7 Boehringer Ingelheim Pharmaceuticals
6.1.8 Novartis International AG
6.1.9 Merck kGaA
6.1.10 Mylan N.V
A selection of companies mentioned in this report includes:
- UCB Inc
- Pfizer Inc
- Amgen Inc
- AbbVie Inc
- Johnson & Johnson
- F. Hoffmann-La Roche AG
- Boehringer Ingelheim Pharmaceuticals
- Novartis International AG
- Merck kGaA
- Mylan N.V