2023-02-08 06:45:30

Adalimumab Biosimilar Market 2023 | North America is likely to grow at a Rapid Speed in the Near Future

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EIN Presswire
Adalimumab Biosimilar Market

Adalimumab Biosimilar Market

Adalimumab is one of the top best-selling drug. Moreover, entry of adalimumab biosimilar players is expected to drive adalimumab biosimilar market growth.

Companies Covered are Amgen, Pfizer, Sandoz International GmbH, Celltrion Healthcare Co., Ltd., Fresenius Kabi, Kyowa Hakko Kirin, LG Life Sciences, Mochida Pharmaceutical, and Momenta Pharmaceuticals”
— InsightAce Analytic

JERSEY, NJ, US, February 8, 2023 /EINPresswire.com/ -- "Global Adalimumab Biosimilar Market- by Application (Rheumatoid Arthritis, Juvenile Idiopathic Arthritis, Psoriatic Arthritis, Crohns Disease, Ankylosing Spondylitis, Ulcerative Colitis, and Psoriasis), Distribution Channel (Hospital Pharmacy, Online Pharmacy and Other Direct Distribution Channels), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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A biosimilar is a type of biologic that is similar to pre-approved biologics. For instance, in December 2002, the US Food and Drug Administration authorized Adalimumab as the first human monoclonal antibody. Adalimumab is a drug used to treat psoriatic arthritis, rheumatoid arthritis, and various other conditions. Adalimumab is a prescription medication that goes by the brand names Exemptia and Humira. Adalimumab treats rheumatoid arthritis, Crohn's disease, psoriatic arthritis, psoriasis, and ulcerative colitis. In addition, Adalimumab is often used to bind TNF (tumour necrosis factor-alpha). When TNF binds to TBF receptors, it causes an inflammatory response that leads to autoimmune disease. Adalimumab decreases the chance of an inflammatory response by binding to TNF.

The global adalimumab biosimilars market is predicted to expand rapidly during the forecast period, owing to a rise in the number of arthritis among the global population and a growth in the number of skin disorders, which would lead to an increase in demand for Adalimumab. According to the Worl Health Organisation (WHO), skin problems are the most common cause of impairment to human health. It is estimated that over 900 million people worldwide suffer from skin problems at any given moment. Many of these skin conditions cause permanent disfigurement, stigma, and impairment, and adequately treating them has become a significant priority for health organizations worldwide.

In this context, the biosimilar adalimumab has emerged as a promising therapy option for chronic skin illnesses such as eczema. This aspect can significantly increase the size of the global adalimumab biosimilar market throughout the forecast period. Furthermore, launching new biosimilars will decrease medicine prices worldwide, resulting in strong market demand. During the forecast period, this is expected to boost the expansion of the worldwide adalimumab biosimilar market.

North America is anticipated to be the major contributor to the Adalimumab Biosimilar market over the forecast years. According to the American Autoimmune Related Diseases Association, over 50 million Americans have an autoimmune disease. Furthermore, the annual healthcare costs for treating these disorders are nearly USD 100 billion. This, combined with an ageing population, will likely offer North America the highest share of the global adalimumab biosimilar market throughout the forecast period. In addition, the Asia Pacific Adalimumab Biosimilar market is expected to grow significantly during the forecast period.

The rising elderly population and increased governmental and private investment in pharmaceuticals drive the Asia-Pacific market. In addition, increasing investments in medical research are also projected to fuel the market.

Major market players operating in the Adalimumab Biosimilar market include:

Amgen, Pfizer, Celltrion Healthcare Co.,Ltd. , Sandoz International GmbH, LG Life Sciences, Mochida Pharmaceutical, Fresenius Kabi, KYOWA HAKKO KIRIN CALIFORNIA INC, Momenta Pharmaceuticals.Fresenius Kabi,Baxalta, Organon,BIOCARD,Boehringer Ingelheim,CinnaGen,Coherus BioSciences,Hetero Drugs Ltd,Hisun pharmaceuticals Ltd.,Innovent Biologics,NeuClone,Outlook Therapeutics, Inc.,Prestige Biopharma Group (Prestige Biopharma Ltd./Prestige Biologics Co., Ltd.),Samsung Bioepis,Shanghai Henlius Biotech, Inc.,Shanghai Junshi Biosciences Co Ltd,Torrent Pharmaceuticals Ltd,Zydus Cadila Pharmcuiticals Limited,Kashiv BioSciences LLC, Mylan Pharmaceuticals ULC, Amneal Pharmaceuticals.

Recent collaborations and agreements in the market:

In June 2022, Sandoz stated that the European Medicines Agency (EMA) has accepted for regulatory consideration the application for high concentration formulation 100 mg/mL (HCF) of its biosimilar Hyrimoz (adalimumab). All indications covered by the reference medicine* are included in the application, including rheumatoid arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and uveitis.

In April 2022, Celltrion Healthcare Canada Limited announced the introduction of Yuflyma, a biosimilar of Humira that is high-concentration (100 mg/mL), low-volume, citrate-free, and latex-free (adalimumab). Yuflyma is a biosimilar of Humira containing adalimumab with a high-concentration, low-volume, and citrate-free formulation. Celltrion Healthcare Canada Limited continues to be devoted to a patient-centric strategy in order to assure access to novel, high-quality biologics in Canada.

In Feb 2022, Pfizer Inc. announced that the FDA has accepted the Prior Approval Supplement (PAS) to the Biologics License Application (BLA) for ABRILADATM (adalimumab-afzb) as an interchangeable biosimilar to Humira for evaluation (adalimumab). Positive topline results from the REFLECTIONS B538-12 trial, which investigated numerous switches between ABRILADA and its reference medication, Humira, both of which were taken with methotrexate in adult patients with moderate to severe rheumatoid arthritis, backed up the PAS (RA).

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Market Segments:

Global Adalimumab Biosimilar Market, by Application, 2022-2030 (Value US$ Mn)
Rheumatoid Arthritis
Juvenile Idiopathic Arthritis
Psoriatic Arthritis
Crohns Disease
Ankylosing Spondylitis
Ulcerative Colitis

Global Adalimumab Biosimilar Market, by Distribution Channel, 2022-2030 (Value US$ Mn)
Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Other Direct Distribution Channels

Global Adalimumab Biosimilar Market, by Region, 2022-2030 (Value US$ Mn)
North America
Asia Pacific
Latin America
Middle East & Africa

North America Adalimumab Biosimilar Market, by Country, 2022-2030 (Value US$ Mn)

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About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and re positioning products.

Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551 226 6109
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