"Tumor Necrosis Factor (TNF) Inhibitor Market Projected to Grow With Double Digit CAGR during the Forecast Period"

Global TNF inhibitor market accounted for US$ 75,578.9 Mn in 2021 and expected to attain US$ 3,15,486.4 Mn in 2030 growing at a CAGR of 16.5% during the forecast period from 2023 to 2030. The TNF inhibitor market is currently driven by five approved biologics namely, adalimumab, certolizumab, etanercept, golimumab and infliximab.

Adalimumab accounted for the highest market share in 2020 and is expected to maintain its position throughout the forecast period from 2023 to 2030. Abbvie, Inc.’s adalimumab (Humira) claims to be the world’s bestselling drug accounting to 60% of its total revenue. With more than 100 patents, Abbvie extended adalimumab rights until 2023 in the U.S and up to October 2021 in Europe. With advent of biosimilars, the TNF inhibitor market is expected to show remunerative growth throughout the forecast period. Of the various indications TNF inhibitors are approved for, plaque psoriasis accounted for maximum market value in 2020.

Growing prevalence of Crohn’s disease and the rising demand for target-based therapies drives the growth of this segment. North America indicated highest market shares in 2020 while Asia Pacific projected to grow with fastest CAGR during the forecast period from 2023 to 2030. Rise in prevalence of autoimmune disorders, incessant research activities, structured reimbursement policies and penetration of cost-efficient biosimilars in low and middle-income economies ensured lucrativeness throughout the forecast period.

"Golimumab to exhibit fastest growth rate during the forecast period"

Golimumab projected to grow with a double digit CAGR during the forecast period from 2023 to 2030. Retention of patent rights in North America and Europe until 2024 and continuous research activities in label expansion ensures lucrativeness during the foreseen period. On October 2020, the FDA granted approval for golimumab for the treatment of adults with psoriatic arthritis and ankylosing spondylitis. Adalimumab accounted for largest market share in 2020 owing to its extensive label use in autoimmune diseases. Adalimumab solely accounted to over 40% of the overall market share in 2020. Infliximab exhibited steady growth owing to early patent expiry and its market taken over by biosimilars. Infliximab biosimilars gained market attractiveness owing to its cost efficiency and increased availability across geographies.

"Crohn’s disease to gain largest market share by 2030"

Crohn’s disease projected to grow with highest CAGR during the forecast period from 2023 to 2030. According to Centers for Disease Control and Prevention, Crohn’s disease accounted to 201 cases per 100,000 adults in 2015. This prevalence is foreseen to grow during the forecast period from 2021 to 2029 thus ensuring remunerative growth. Approval of all TNF inhibitors for the treatment of Crohn’s disease further contributes to the growth of this segment. Additionally, TNF inhibitors are the only target based treatment option for Crohn’s diseases thus holding dominancy in this segment. Plaque psoriasis accounted for largest market share in 2020 owing to increased prevalence across geographies. According to the American Academy of Dermatology, around 7.5 million people in the U.S. suffer from psoriasis, 80% of which suffer from plaque psoriasis. As other indications namely, rheumatoid arthritis, psoriatic arthritis, ulcerative colitis, ankylosing spondylitis, uveitis, juvenile arthritis and hidradenitis suppurativa have a higher unmet need of target-based therapies, manufacturers are looking forward to promote TNF inhibitors for these indications.

"North America Dominated in 2020 and Continues This Trend Through 2030"

North America accounted for major market share of more than 40% in 2021 and projected to continue the trend throughout the forecast period. Majority of drugs retaining patent rights for longer duration in North America additionally catalyzes the market growth. Higher prevalence of autoimmune conditions such as Crohn’s disease and ulcerative colitis in U.S. and Canada contribute to the overall market growth in this region. According to press release published by Abbvie, Inc. in August 2020, around 104,000 Canadians suffer from ulcerative colitis and 4,500 new cases are diagnosed each year. The development of biosimilars in Europe is faster owing to the ease of approval of the same by European regulatory bodies. This factor thus leads to increase in availability of TNF inhibitors indicating steady growth during the forecast period. Asia Pacific exhibited fastest growth rate during the forecast period with investment from various local manufacturers in promoting biologics & biosimilars and the growing prevalence of autoimmune conditions.

"Investments in Biosimilar Development has led to Increased Competition among TNF Inhibitor Market Players"

TNF inhibitors market indicates an extensive competitive pool of players with continuous investments in research activities pertaining to label expansion or development of suitable biosimilars. The key players with their biological products namely, Abbvie, Inc.’s adalimumab, UCB S.A’s certolizumab, Amgen, Inc.’s etanercept and Janssen Biotech, Inc.’s golimumab & infliximab are expected to dominate the market until their patent expiry. Growth of biosimilars would affect the growth of existing biological drugs during the forecast period. Manufacturers across geographies are continuously investing in biosimilars thus promoting the growth of TNF inhibitors globally. Amgen, Inc. and Boehringer Ingelheim was granted FDA approval for Humira (adalimumab) in September 2019 and August 2020 respectively. Thus, post patent expiry of the major biologics, TNF inhibitor market is projected to witness extensive competition among the biosimilar market players. Acute Market Reports believes that, a new biologic drug with extensive label use and controlled pricing is expected to have an opportunity in the TNF inhibitor market.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Tumor Necrosis Factor (TNF) Inhibitors market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Tumor Necrosis Factor (TNF) Inhibitors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Tumor Necrosis Factor (TNF) Inhibitors market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Tumor Necrosis Factor (TNF) Inhibitors market?
• Which is the largest regional market for Tumor Necrosis Factor (TNF) Inhibitors market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Tumor Necrosis Factor (TNF) Inhibitors market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Tumor Necrosis Factor (TNF) Inhibitors market worldwide?