Humira Drug Market Segments, Driver, Restraints, And Trends
Humira Drug Global Market Report 2024: Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Humira Drug Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 15, 2024 /EINPresswire.com/ -- The humira drug market has experienced robust growth in recent years, expanding from $9.19 billion in 2023 to $9.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to introduction of biologics, biotechnology advancements, patient demand for effective treatments, physician adoption and prescribing patterns.
Strong Future Growth Anticipated
The humira drug market is projected to continue its strong growth, reaching $13.05 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to biosimilar market entry, healthcare policy changes, focus on cost-effectiveness, research and development investments, precision medicine and personalized treatments.
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Growth Driver Of The Humira Drug Market
A rise in the incidence rate of autoimmune disease is expected to propel the growth of the humira drug market going forward. Autoimmune disease refers to a type of disease in which the body's immune system attacks and destroys healthy tissues and cells in the body. Humira drug is used to treat pain and inflammation caused by various autoimmune diseases, as a result, the rise in the incidence rate of autoimmune diseases increases the demand for humira drug.
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Major Players And Market Trends
Key players in the humira drug market include Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Novartis AG, Fresenius Kabi AG, Amgen Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Sandoz International GmbH, Hikma Pharmaceuticals PLC, Celltrion Healthcare Co. Ltd., Cadila Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd., Mochida Pharmaceutical Co. Ltd., Innovent Biologics Inc., Biocad Biopharmaceutical Company, Shanghai Henlius Biotech Inc., Glenmark Pharmaceuticals Ltd., Samsung Bioepis Co Ltd., Hetero Healthcare Ltd., Coherus BioSciences Inc., CinnaGen Co., Alvotech Holdings S.A, Reliance Life Sciences Private Limited, Momenta Pharmaceuticals Inc., Bio-Thera Solutions Ltd., Fujifilm Kyowa Kirin Biologics Co. Ltd., BioXpress Therapeutics SA, Alteogen Inc., Prestige BioPharma Pte. Ltd..
Major companies operating in the himra drug market are focusing on developing biosimilars for humira drugs. Companies are focusing on increasing cost effectiveness of humira drugs by manufacturing specialty biosimilars suited for humira drugs. For instance, in October 2023, Boehringer Ingelheim a Germany-based pharmaceutical company launched biosimilar of Humira. The only close copies of Humira approved by the US Food and Drug Administration to be interchangeable are those made by Boehringer, which can be used in place of the original without a prescription.
Segments:
1) By Type: Humira Syringe, Humira Pen
2) By Application: Ankylosing Spondylitis, Rheumatoid Arthritis, Crohn's Disease, Other Applications
3) By End-Users: Hospitals, Specialty Clinics, Other End-Users
Geographical Insights: North America Leading The Market
North America was the largest region in the humira drug market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of humira drug.
Humira Drug Market Definition
Humira drug, or adalimumab, refers to an injection prescribed to treat rheumatoid arthritis and other conditions. These drugs are used to reduce the pain and swelling caused by several types of arthritis.
The main types of humira drugs are humira syringes and humira pens. Humira syringe refers to a type of treatment that is used to treat progressive rheumatoid arthritis. The various applications include ankylosing spondylitis, rheumatoid arthritis, Crohn's disease, and others, which are used by various end-users such as hospitals, specialty clinics, and others.
Humira Drug Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Humira Drug Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on humira drug market size, humira drug market drivers and trends, humira drug market major players, humira drug competitors' revenues, humira drug market positioning, and humira drug market growth across geographies. The humira drug market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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