Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for tumor necrosis factor inhibitor drugs market was valued at approximately USD 40.23 billion in 2018, and is expected to generate revenue of around USD 42.08 billion by end of 2025, growing at a CAGR of around 0.7% between 2019 and 2025.
The report covers forecast and analysis for the tumor necrosis factor inhibitor drugs market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the tumor necrosis factor inhibitor drugs market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the tumor necrosis factor inhibitor drugs market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the tumor necrosis factor inhibitor drugs market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the tumor necrosis factor inhibitor drugs market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the tumor necrosis factor inhibitor drugs market on global and regional basis.
The study provides a crucial view on the tumor necrosis factor inhibitor drugs by segmenting the market based on product, application, distribution channel and region. All the segments of tumor necrosis factor inhibitor drugs market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Tumor necrosis factor (TNF) is a multifunctional protein cytokine produced by immune cells that causes inflammation in the body and plays important role in various cellular functions such as cell proliferation, differentiation, survival and death. Tumor necrosis factor inhibitors suppress body’s innate response to tumor necrosis factor (TNF). These inhibitors are used in treatment of inflammatory conditions such as psoriatic arthritis, ulcerative colitis, psoriasis, rheumatoid arthritis, ankylosing spondylitis etc. These TNF inhibitor drugs are used in autoimmune disorders to avoid immune system attacking from healthy body cells.
The demand for tumor necrosis factor inhibitor drugs market is driven by increasing autoimmune disorders across the globe, increasing geriatric population base, promising pipelines, new product launches, increasing awareness among patients, increasing healthcare expenditure and increasing disposable income. However, emergence of new biosimilars as a result of loss of patent exclusivity in different regions, internal threat from biosimilars and intense competition from interleukin inhibitors are major factors that may hinder the market growth. Growing consumer preference for cost effective therapeutics with improved efficacy and safety will bring new growth opportunities for market players over the forecast period.
Based on product, global tumor necrosis factor inhibitor drugs market is bifurcated into Biosimilars, Cimzia, Simponi/Simponi Aria, Enbrel, Remicade and Humira. Humira product segment accounted for largest market share in 2018 and is expected to retain its dominance over the forecast period. This is due to its patent exclusivity in U.S. which will expire in 2023. Biosimilars product segment will experience maximum growth over the forecast period as a result of patent expiry and new launches.
Based on applications market is segmented into psoriasis, rheumatoid arthritis, psoriatic arthritis, ulcerative colitis, Crohn’s disease, hidradenitis suppurativa, juvenile idiopathic arthritis, ankylosing spondylitis and other applications. Rheumatoid arthritis application segment held dominating market share in 2018 driven by growing awareness, increasing incidence rate, and high treatment rate. Psoriatic arthritis and psoriasis application segments will witness highest growth rate over the forecast period.
The distribution channel segment of the TNF inhibitor drugs market is divided into specialty pharmacies, hospital pharmacies and online pharmacies. Largest distribution channel in 2018 was hospital pharmacies. Online pharmacies distribution channel segment is projected to witness rapid growth in the coming years.
North America dominated the global tumor necrosis factor inhibitor drugs market in 2018. Strong commercial sales, favorable reimbursement policies, presence of key players, large patient pool, and growing awareness are major factors driving the growth in this region. Europe was second largest regional market in terms of revenue share. Availability of developed infrastructure, increasing cases of autoimmune disorders, and growing awareness are some of factors that boost market growth in this region. Asia Pacific region will be the rapidly growing market for tumor necrosis factor inhibitor drugs. Healthcare infrastructure improvement, economic development, increasing geriatric population base, increasing disposable income and healthcare spending, growing awareness are important factors attributing to the rapid growth in this region. On the other hand Latin America will experience moderate growth in the coming years. Middle East and Africa will register slower growth in the years to come.
Major players in tumor necrosis factor inhibitor drugs market are Merck & co., Inc., Pfizer, Inc., Novartis International AG, UCB S.A., Johnson & Johnson Services, Inc., Amgen Inc., and AbbVie Inc. among others.
The report segment of global tumor necrosis factor inhibitor drugs market as follows:
Global Tumor Necrosis Factor Inhibitor Drugs Market: Product
Global Tumor Necrosis Factor Inhibitor Drugs Market: By Application
Global Tumor Necrosis Factor Inhibitor Drugs Market: By Distribution Channel
Global Tumor Necrosis Factor Inhibitor Drugs Market: By Region