Adalimumab Market size is estimated to reach $4.3 Billion by 2025 and is poised to grow at a CAGR of 4.98% during the forecast period 2020-2025. Adalimumab, with brand name of Humira and Exemptia, which is an anti-TNF medication used to treat rheumatoid arthritis, psoriatic arthritis, Crohn's disease, psoriasis, and ulcerative colitis. Adalimumab is usually associated with tumor necrosis factor alpha (TNFα). When TNFα binds to the TBFα receptor, it produces an inflammatory response to autoimmune diseases. Adalimumab, by binding to TNFα, reduces the chances of an inflammatory response. The increasing incidence of acute arthritis and ulcerative colitis drives the adalimumab market. Owing to an unhealthy lifestyle adaptation, increased stress in daily life, dysfunction in the Immune system are factors which are estimated to boost the growth of the adalimumab market. However, the sedentary lifestyle of people all over the world which aids in increasing the prevalence of arthritis, which is projected to boost the global adalimumab market over the forecast years 2020-2025.
Adalimumab Market Segment Analysis - By Disease
The global Adalimumab Market based on Mode of Disease, can be further segmented into Crohn’s disease, Psoriatic arthritis, Rheumatoid arthritis, Ulcerative colitis, and others. Rheumatoid arthritis segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the high prevalence of rheumatoid arthritis across the world. The introduction of new therapeutic agents and government support for high-cost treatment products are major factors driving the rheumatoid arthritis segment.
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Adalimumab Market Segment Analysis - By End-User
The global Adalimumab Market based on Mode of End-Use, can be further segmented into Hospitals, Specialty Clinics, and others. The Hospitals segment registered for highest revenue in 2019 and projected to grow at the highest CAGR of 5.1% during the forecast period 2020-2025 owing to the growing number of patients suffering from arthritis and ulcerative colitis. However, the rising prevalence of Rheumatoid arthritis is the major reason for driving the segment.
Adalimumab Market Segment Analysis - By Geography
The global Adalimumab Market based on Geography, can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. North America registered for the highest revenue share of 37.1% in 2019 owing to the advanced healthcare infrastructure, reimbursement coverage and a well-regulated regulatory framework in the region. However, Asia-Pacific is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2020-2025 owing to the factors such as rising disposable income, rapid development of healthcare infrastructure and municipal / governmental measures to improve the healthcare sector in the region.
Adalimumab Market Drivers
Rise in Demand
The global Adalimumab Market is driven by the high incidence of arthritis, which is among the main factors driving the market's growth. Women are more likely to develop osteoarthritis owing to calcium loss from the body compared to males, this is estimated to lead to an increased demand for adalimumab during the forecast period 2020-2025. Moreover, the sedentary lifestyle of people all over the world, which aids in increasing the prevalence of arthritis, which is projected to augment market demand over the forecast period 2020-2025.
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Adalimumab Market Challenges
Side effects and high cost of Adalimumab
Common side effects of Adalimumab include redness, swelling, itching, rash, bleeding, bruising, and pain at the injection site. In addition, side effects such as upper respiratory infections (RTI), nausea, vomiting, anaphylaxis, hepatitis B infection, increased risk of heart failure, internal bleeding, psoriasis, headache, and, liver injury are some of the other side effects of adalimumab that have been observed in some cases, which is projected to hamper the market growth. However, the high cost of Adalimumab is acting as a major challenge for the growth of the Adalimumab Market during the forecast period 2020-2025.
Adalimumab Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Adalimumab Market. Key companies of this market Croda International Plc, Clariant AG, AkzoNobel N.V, Ashland Inc, Evonik Industries, PolyOne Corporation, DuPont, Addcomp Holland, Lonza Group, and PCC Chemax Inc.
Acquisitions/Product Launches:
In August 2020, Cadila Pharmaceuticals has announced the launch of its adalimumab biosimilar, Cadalimab, referencing AbbVie's Humira, in India.
In May 2019, AbbVie has announced that it has settled its patent litigation with Boehringer Ingelheim over adalimumab. It is an important settlement as it resolves all the Humira-related patent litigation in the US and provides access for another biosimilar manufacturer seeking to enter the US.
Key Takeaways
Geographically, the North America area is poised to see extraordinary development owing to the owing to the advanced healthcare infrastructure, reimbursement coverage and a well-regulated regulatory framework in the region and is set to continue during forecast period 2020-2025.
The global demand for the Adalimumab Market is owing to the rising incidences of arthritis around the globe.
The high cost and the side effects caused by Adalimumab, which is estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Adalimumab Market report.
Related Reports :
A. Rheumatoid Arthritis Drugs/Therapeutics Market
https://www.industryarc.com/Research/Rheumatoid-Arthritis-Drugs-Therapeutics-Market-Research-503761
B. Immune Checkpoint Inhibitors Market
https://www.industryarc.com/Report/17427/immune-checkpoint-inhibitors-market.html
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