Albany, NY -- (SBWIRE) -- 09/14/2018 -- Global TNF Inhibitors Market - Snapshot
TNF inhibitors, or tumor necrosis factor inhibitors, are biologic drugs derived from human or animal tissues and are most commonly utilized to stop inflammation and disease progression by suppressing the inflammation-causing substance, i.e. tumor necrosis factor, in the body. It is primarily indicated for the treatment of various inflammatory conditions, which include rheumatoid arthritis, psoriasis, inflammatory bowel disease, and other inflammatory conditions. Currently approved TNF inhibitors that are utilized in the treatment of various inflammatory conditions include Adalimumab (Humira), Infliximab (Remicade), Certolizumab (Cimzia), etanercept (Enbrel), and Golimumab (Simponi, Simponi Aria).
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In terms of revenue, the global TNF inhibitors market was valued at US$ 40,369.9 Mn in 2017. It is expected to expand at a CAGR of 2.54% from 2018 to 2026.
The global TNF inhibitors market can be segmented based on drug, application, distribution channel, and geography. Furthermore, in terms of drug, the market can be divided into adalimumab, certolizumab, etanercept, golimumab, and infliximab. The adalimumab segment is likely to account for a leading share of the global TNF inhibitors market, in terms of revenue, during the forecast period, owing to high clinical efficacy and its high preference by physicians in severe rheumatic disease. Patent expiry of major TNF inhibitors and entry of biosimilars are expected to increase the patient base and boost the adoption of TNF inhibitors during the forecast period. Based on end-user, the market can be segregated into hospital pharmacy, retail pharmacy and online pharmacy. The hospital pharmacy segment is estimated to expand at a significant growth rate during the forecast period, owing to the increasing number of hospitals and rising preference of the geriatric patient population to undergo treatment at hospitals. However, the online pharmacy segment is expected to expand at a high CAGR during the forecast period due to the increase in number of internet users and availability of TNF inhibitors at a lower price as compared to retail and hospital pharmacies.
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In terms of region, the global TNF inhibitors market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of region, North America and Europe accounted for a combined market share of 87.7% in 2017. High prevalence of various inflammatory conditions such as rheumatoid arthritis and inflammatory bowel disease in North America fuelled the demand for TNF inhibitors. Likewise, Europe accounted for a prominent share, and followed North America in terms of share, of the total global market, due to the presence of a large geriatric population that is more prone to inflammatory conditions. The TNF inhibitors market in Asia Pacific is likely to expand at a high CAGR during forecast period. Increase in the incidences of various inflammatory conditions and entry of biosimilar into the market are likely to increase the affordability as well as drive the consumption of TNF inhibitors, which in turn is projected to fuel the market in the Asia Pacific during the forecast period. Moreover, low cost of manufacturing in China and India has led to the rise in number of production facilities, attracting pharmaceutical and biotechnological giants in Asia Pacific from across the world.
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Majority of TNF inhibitors are being manufactured by key players covered in this report such as AbbVie, Inc., Janssen Biotech, Inc., UCB, Amgen, Inc., Pfizer, Inc., Samsung Bioepis, Biogen, Merck & Co., and Takeda Pharmaceutical Company. The market leaders in this industry are well-established in the market and enjoy brand loyalty among customers. These manufacturers have a wide product range to offer and have an extensive distribution system across the world. Additionally, small players are entering the market, especially in the emerging markets of Asia. However, stringent regulatory framework and high quality standards set by market leaders are expected to restrain the market penetration by new entrants.
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