Tumor Necrosis Factor Inhibitor Drugs Market to hit USD 50 billion by 2032, says Global Market Insights Inc.
Tumor necrosis factor inhibitor drugs industry is projected to witness a CAGR of 2.2% during the period 2024-2032. This growth can be attributed to advancements in biotechnology and drug development.
Selbyville, Delaware, Oct. 02, 2024 (GLOBE NEWSWIRE) --
Tumor Necrosis Factor Inhibitor Drugs Market size valued at USD 41.3 billion in 2023 and is projected to grow at a CAGR of 2.2% from 2024-2032 attributed to the increasing incidence of autoimmune diseases such as psoriasis, rheumatoid arthritis, and inflammatory bowel disease.
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As awareness and diagnostic capabilities for these conditions improve, the demand for effective treatment options has risen significantly. TNF inhibitors, known for their efficacy in controlling symptoms of chronic inflammatory diseases, have become a key component in treatment protocols.
The overall tumor necrosis factor inhibitor drugs industry is classified based on the drug class, indication, route of administration, distribution channel, and region.
The tumor necrosis factor inhibitor drugs market is categorized by drug class into certolizumab pegol, adalimumab, infliximab, etanercept, and golimumab. In 2023, the adalimumab segment led the market, commanding a valuation of USD 24.2 billion. Adalimumab, a monoclonal antibody with a focus on tumor necrosis factor (TNF), boasts a significant market share in the TNF inhibitor drugs arena, thanks to its broad efficacy, commendable safety profile, and prevalent use across various autoimmune diseases. The continuous development of novel formulations and delivery methods bolsters its market presence.
Segmented by indication, the tumor necrosis factor inhibitor drugs market includes hidradenitis suppurativa, rheumatoid arthritis, psoriatic arthritis, psoriasis, Crohn’s disease, ankylosing spondylitis, ulcerative colitis, juvenile idiopathic arthritis, and other conditions. In 2023, the rheumatoid arthritis segment led the market with a 42.0% share. Rheumatoid arthritis (RA) is a chronic inflammatory disorder primarily impacting joints, leading to pain, swelling, and potential joint damage, resulting in a significant patient population seeking effective treatment. The rising prevalence of RA, combined with heightened awareness and diagnostic rates, has spurred the demand for TNF inhibitors in RA treatment.
In 2023, North America led the global tumor necrosis factor inhibitor drugs market with revenues reaching USD 17 billion, and projections suggest it could hit USD 20 billion by 2032. The region's leadership is largely due to the presence of top-tier pharmaceutical and biopharmaceutical companies, which are at the forefront of developing innovative TNF inhibitors. North America's strong healthcare system, paired with established regulatory pathways, ensures swift market entry and acceptance of new therapies. Heightened patient awareness and access to cutting-edge treatment options solidify North America's dominant stance in the global TNF inhibitor drugs market.
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Major players in tumor necrosis factor inhibitor drugs market include AbbVie Inc., Amgen Inc., Boehringer Ingelheim Pharmaceuticals, Inc., Bio-Thera Solutions, Ltd., Janssen Biotech, Inc., Merck & Co., Inc., Pfizer Inc., Samsung Bioepis Co., Ltd., Sandoz Group AG, and UCB, Inc. among others.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of autoimmune diseases
3.2.1.2 Expansion of therapeutic indications
3.2.1.3 Advancements in biotechnology and drug development
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of treatment
3.2.2.2 Side effects and safety concerns
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Pipeline analysis
3.6 Patent analysis
3.7 Porter's analysis
3.8 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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