The global Humira biosimilar market consists of biosimilar drugs to treat autoimmune diseases and other chronic conditions. Humira biosimilar drugs work by inhibiting tumor necrosis factor-alpha (TNF-α) that causes inflammation. These biosimilars provide a more affordable treatment alternative to the reference biologic drug Humira. The humira biosimilars segment consists of medications to treat rheumatoid arthritis, psoriasis, Crohn's disease, ulcerative colitis and other 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. The rising prevalence of chronic diseases along with the patent expiry of Humira has increased the demand for affordable biosimilar drugs globally. Major players are expanding their manufacturing facilities and production capacities in international markets like North America, Europe and Asia Pacific to tap the high growth potential.
Market drivers
Rising healthcare costs have made biologic drugs unaffordable for many patients globally. The availability of low-cost biosimilar alternatives is expected to significantly reduce the treatment costs of chronic diseases. This is a major driver boosting the adoption of affordable humira biosimilars. Additionally, favorable regulations and guidelines by regulatory bodies are encouraging the development of biosimilars. As biologics go off-patent, biosimilar companies are able to quickly introduce competing drugs, gaining market share from biologics and further reducing costs for patients.
Geopolitical Situation and Market Growth
The current geopolitical turbulence and tensions between major economies is impacting the Humira biosimilar market growth. The rising tensions between US, China and Russia due to trade wars, sanctions and geopolitical issues has disrupted global supply chains and trade flows. This has made it difficult for biosimilar manufacturers globally to access required raw materials and logistics support. It has also impeded investments and strategic collaborations between companies of rival nations. The instability in global trade policies and relations is posing challenges to the expansion plans of biosimilar players in overseas markets. However, most companies are aiming to diversify their supply footprint across friendly nations and developing alternative supply routes to mitigate such risks in the future. They are also seeking domestic and regional partnerships for technology transfers and local manufacturing to cater growing regional demand independently without relying on global supply chains.
Fastest Growing Regional Market
Asia Pacific region holds the maximum growth potential for Humira biosimilar market during the forecast period from 2024 to 2030. This is majorly due to rising healthcare investments, increasing penetration of health insurance, growing prevalence of autoimmune conditions and rapidly aging patient demographics in emerging country clusters of India, China, Japan, Australia and South Korea. In addition, various governments in the region are actively promoting the development and adoption of biosimilars to tackle rising healthcare costs, thus encouraging local biosimilar manufacturers and spurring competitive pricing and supply assurance. All these factors are expected to elevate the Asia Pacific region as the fastest expanding market for Humira biosimilar globally going ahead.
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