PUBLISHER: The Business Research Company | PRODUCT CODE: 1409867
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409867
“Tumor Necrosis Factor Inhibitor Drugs Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on tumor necrosis factor inhibitor drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for tumor necrosis factor inhibitor drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The tumor necrosis factor inhibitor drugs market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Tumor necrosis factor (TNF) inhibitor drugs are medications designed to alleviate inflammation. These drugs work by suppressing the inflammatory response triggered by TNF cytokines, thereby treating various inflammatory and autoimmune conditions.
Key types of TNF inhibitor drugs available in the market include Humira, Enbrel, Remicade, Simponi/Simponi Aria, Cimzia, and biosimilars. Humira, for instance, is a TNF blocker that diminishes the effects of substances in the body responsible for inflammation. These medications are administered via subcutaneous or intravenous injection routes and are distributed through hospital pharmacies, retail pharmacies, and online pharmacies. They are prescribed for conditions such as rheumatoid arthritis, psoriasis, psoriatic arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, juvenile idiopathic arthritis, hidradenitis suppurativa, among others, to mitigate their symptoms and manage the underlying inflammation.
The tumor necrosis factor (TNF) inhibitor drugs market research report is one of a series of new reports from The Business Research Company that provides tumor necrosis factor (TNF) inhibitor drugs market statistics, including global market size, regional shares, competitors with a tumor necrosis factor (TNF) inhibitor drugs market share, detailed tumor necrosis factor (TNF) inhibitor drugs market segments, market trends and opportunities, and any further data you may need to thrive in the tumor necrosis factor (TNF) inhibitor drugs industry. This tumor necrosis factor (TNF) inhibitor drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tumor necrosis factor inhibitor drugs market size has grown marginally in recent years. It will grow from $42.01 billion in 2023 to $42.75 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%. The growth observed in the historical period can be attributed to several contributing factors, including the demonstrated clinical efficacy of TNF inhibitor drugs, approvals from the FDA (Food and Drug Administration), a rise in the prevalence of diseases treatable by these medications, extensive clinical trials and research validating their effectiveness, the adoption and endorsement of these drugs by physicians, as well as increasing demand for these treatments among patients, leading to greater satisfaction.
The tumor necrosis factor inhibitor drugs market size is expected to see steady growth in the next few years. It will grow to $46.9 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. Anticipated growth in the forecast period is expected to stem from various factors, including the expansion of emerging markets, regulatory changes and subsequent approvals, the adoption of personalized medicine approaches, increased healthcare awareness and accessibility, and advancements in biological therapies. Key trends projected in the forecast period encompass the rise of patient-centric solutions, the utilization of real-world evidence and data in treatment approaches, a heightened focus on ensuring drug safety and managing potential side effects, advancements in advanced drug delivery systems, and the broadening of clinical applications for TNF inhibitor drugs.
The rising prevalence of autoimmune illnesses is poised to drive the growth of the tumor necrosis factor inhibitor drugs market. Autoimmune disorders, characterized by the immune system mistakenly attacking healthy human tissue, often result in inflammation, pain, and swelling. Tumor necrosis factor inhibitor drugs play a crucial role in mitigating these effects by blocking inflammation, providing relief from associated symptoms, and stabilizing the immune system. As of June 2022, the Autoimmune Association reported that 4.7 million men in the US were affected by autoimmune diseases, constituting 20% of all autoimmune disease patients. Additionally, a total of 31 million individuals in the US were reported to be suffering from 80-150 unique autoimmune diseases in 2022, with expectations of further increases in the future. Consequently, the escalating prevalence of autoimmune disorders serves as a driving force for the growth of the tumor necrosis factor inhibitor drugs market.
The growth of the tumor necrosis factor inhibitor drug market is anticipated to be fueled by increasing healthcare expenditures. Healthcare expenditures encompass the total amount spent on healthcare-related services, products, and activities within a specified period. Higher healthcare spending is often associated with improved access to advanced and expensive treatments, including biologic drugs such as TNF inhibitors. For instance, as of May 2023, the Office for National Statistics in the UK reported a 9.4% increase in nominal terms and a 9.7% increase in real terms in healthcare spending. The UK's total healthcare expenditure in 2021 amounted to $367.25 billion (£280.7 billion), with pharmaceutical expenditure reaching $51.84 billion (£39.6 billion). Notably, spending on preventive care more than doubled from the previous year, reaching $45.93 billion (£35.1 billion) in 2021. Consequently, the upward trend in healthcare expenditure is poised to drive the growth of the tumor necrosis factor inhibitor drug market.
Product innovations stand out as a key trend gaining momentum in the tumor necrosis factor inhibitor drugs market, with major companies directing their efforts towards developing cutting-edge products to enhance their market positions. An illustrative example is Pfizer Inc, a prominent US-based company in the tumor necrosis factor inhibitor drugs sector. In December 2021, Pfizer launched XELJANZ, a novel treatment designed for ankylosing spondylitis (AS) patients who have not responded well to one or more TNF blockers. XELJANZ provides a unique treatment option for AS, offering an alternative to injections or infusions for this chronic immuno-inflammatory disease. The drug operates by blocking the action of Janus kinase enzymes involved in inflammation.
Major players in the tumor necrosis factor inhibitor drug market are strategically embracing a partnership approach to create a new oral medicine for irritable bowel disease (IBD). Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits. In July 2022, SGS S.A., a Switzerland-based inspection, verification, testing, and certification service, announced a collaboration with CPI, Pharmidex, and Intract Pharma. The partnership aims to repackage the biologic medication infliximab, a tumor necrosis factor (TNF) inhibitor drug used for various inflammatory conditions, including IBD, into an oral capsule. This innovative oral delivery method for infliximab seeks to provide IBD patients with a more focused, convenient, and safer treatment option by withstanding the harsh conditions of the stomach. Intract Pharma Limited, Pharmidex Pharmaceutical Services Ltd., and CPI are all UK-based entities contributing their expertise to this collaborative effort.
In April 2022, Samsung Biologics, a prominent South Korea-based biotechnology company, successfully acquired Samsung Bioepis Co. Ltd. for a significant sum of $2.3 billion. This strategic acquisition is poised to enhance Samsung Biologics' capabilities in biosimilar development and position the company for improved performance in the realm of novel drug development. The acquisition is expected to provide Samsung Bioepis with greater autonomy and agility in its business operations. Samsung Bioepis Co. Ltd., also based in South Korea, is a leading biopharmaceutical company specializing in the production of tumor necrosis factor inhibitor drugs. The acquisition marks a significant move for Samsung Biologics to bolster its position in the biopharmaceutical industry and further its contributions to the development of vital medications in the tumor necrosis factor inhibitor drugs market.
Major companies operating in the tumor necrosis factor inhibitor drugs market report are AbbVie Inc., Amgen Inc., Johnson & Johnson Services Inc., UCB S.A., Novartis International AG, Pfizer Inc., Samsung Bioepis Co. Ltd., Sanofi SA, Merck & Co. Inc., Boehringer Ingelheim Pharmaceuticals, Lupin Ltd., Ablynx NV, Momenta Pharmaceuticals Inc., F. Hoffmann-La Roche AG, Cadila Healthcare Ltd., Apogenix AG, Aryogen Biopharma, Bionovis, Casi Pharmaceuticals, Celltrion Inc., Bristol-Myers Squibb, Delenex Therapeutics, Dexa Medica, Epirus Biopharmaceuticals, Glaxosmithkline plc, Hanall Biopharma, Intas Pharmaceuticals, Leo Pharma AS, LG Chem Ltd., Biogen Inc. .
North America was the largest region in the tumor necrosis factor inhibitor drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the tumor necrosis factor (TNF) inhibitors drugs market report during the forecast period. The regions covered in the tumor necrosis factor inhibitor drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the tumor necrosis factor inhibitor drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The tumor necrosis factor (TNF) inhibitors drugs market consists of sales of enbrel, ereizi, inflectra, and renflexis. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.