The latest market report published by Credence Research, Inc. “Tumor Necrosis Factor (TNF) Inhibitors Market: Growth, Future Prospects, and Competitive Analysis, 2018 -2026” the tumor necrosis factor inhibitors market was valued at US$ 43,394.4 Mn in 2017 and expected to reach US$ 181,139.7 Mn by 2026, expanding at a CAGR of 16.5 % from 2018 to 2026.
Browse the full report Tumor Necrosis Factor (TNF) Inhibitors Market Growth, Future Prospects, and Competitive Analysis, 2018 -2026 report at http://www.credenceresearch.com/report/tumor-necrosis-factor-tnf-inhibitor-market
Market Insights
Global tumor necrosis factor (TNF) inhibitor market was valued at US$ 43,394.4 Mn in 2017 and projected to reach US$ 181,139.7 by 2026 with a CAGR of 16.5% during the forecast period. Only five approved TNF inhibitors dominate the current market namely, adalimumab, certolizumab, etanercept, golimumab and infliximab. The extensive application of these approved drugs for various autoimmune conditions ensures continuous market growth during the forecast period from 2018 to 2026. Approval of biosimilars would further add to the lucrativeness of this market. Biosimilars will intensify the market competition in TNF inhibitors market as several industrial players are currently investing in their development. High prevalence of chronic conditions such as Crohn’s disease, ulcerative colitis, plaque psoriasis, rheumatoid arthritis & others, continuous research activities in developing target-based biologics, provision of structured reimbursement policies and growing inclination towards cost-efficient biosimilars in developing economies contribute to the remunerative growth of this market. Additionally, rising prevalence of chronic autoimmune disease such as Crohn’s disease, rheumatoid arthritis, plaque psoriasis and ulcerative colitis increase the need for target based therapies such as TNF inhibitors.
TNF inhibitors market has been segmented based on drug type which comprises approved TNF inhibitors as mentioned above and various applications of TNF inhibitors namely, Crohn’s disease, rheumatoid arthritis, psoriatic arthritis, plaque psoriasis, ulcerative colitis, ankylosing spondylitis, hidradenitis suppurativa, uveitis and juvenile arthritis. Crohn’s disease segment projected with fastest CAGR owing to its growing prevalence across geographies and rising awareness on the efficiency of TNF inhibitors. As per the Centers for Disease Control and Prevention (CDC), around 201 cases of Crohn’s disease per 100,000 adults observed in 2015. The prevalence will grow further during the forecast period owing to growing adoption of unhealthy dietary habits.
Based on geographical demarcation, North America dominated the market in 2017 with a market share of over 40% and expected to maintain this position throughout the forecast period. Patent exclusivity of approved TNF inhibitors for longer duration ensures maximum lucrativeness in this market. Asia Pacific exhibited fastest growth during the forecast period. Increase in prevalence of autoimmune diseases, rising awareness on efficacy and availability of TNF inhibitors, growing investments of various industrial players in biosimilars and increased support from regulatory boards for biosimilar approval is expected to catalyze the overall market growth in Asia Pacific.
TNF inhibitors market comprise of industrial players with maximum global outreach namely, Abbvie, Inc., Amgen, Inc., Biocad Biopharmaceutical Co., Boehringer Ingelheim Pharmaceuticals, Inc., EPIRUS Biopharmaceuticals, Inc., Innovent Biologics, Inc., Janssen Biotech, Inc., Merck & Co., Inc., Novartis A.G., Pfizer, Inc., Shanghai Henlius Biotech, Inc. and UCB S.A.
Key Market Movements:
- Globally tumor necrosis factor inhibitors market witnesses a remunerative growth with a CAGR of 16.5 % during the forecast period from 2018 to 2026
- Constant research activities in label expansion of TNF inhibitors enhancing its application across various disease areas thus catalyzing the market growth
- Rising prevalence of autoimmune disease across geographies and the use of TNF inhibitors for multiple autoimmune conditions catalyzing the market growth
- Biosimilars are expected to increase market competition in the near future and ensure incessant growth during the forecast period from 2018 to 2026
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