The Humira biosimilar market has evolved rapidly in recent years with the development and approval of various biosimilar products. Humira, which is used widely for treating several autoimmune diseases like rheumatoid arthritis, inflammatory bowel disease and psoriasis, is currently the highest-selling biologic drug globally. However, its patent protection is expiring in several markets providing opportunities for biosimilar versions of the drug.
The Global Humira Biosimilar Market is estimated to be valued at US$ 889.46 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in The Humira Biosimilar Market are Nestlé S.A., Groupe Danone, Abbott Nutrition, Mead Johnson Nutrition, The Kraft Heinz Company, Meiji Holdings Co. Ltd., Beingmate Baby & Child food Co. Ltd., Synutra International Inc., Pfizer Inc., and FrieslandCampina. N.V.
The rising prevalence of autoimmune diseases is one of the major factors driving the demand for affordable biosimilar versions of Humira globally.
Several leading drug manufacturers are actively developing biosimilar versions which are expected to receive regulatory approvals in the coming years in all key pharmaceutical markets and gain significant sales. With patent expiries in major pharmaceutical markets, several biosimilar manufacturers are focusing on expanding their geographical footprint through new product launches, partnerships and acquisitions.
Market key trends
One of the key trends in the Humira biosimilar market is the increasing number of regulatory approvals and product launches. In recent years, several biosimilar versions of Humira have received regulatory approvals in major pharmaceutical markets like U.S., Europe and Japan. With expiries of Humira patents in more countries, the approvals and launches of low-cost biosimilars are expected to accelerate significantly. This will increase treatment accessibility and drive down treatment costs, thereby benefitting patients and the overall healthcare system.
Porter’s Analysis
Threat of new entrants: New entrants face high costs for R&D and clinical trials to develop biosimilar versions. Bargaining power of buyers: Large buyers like hospitals and pharmacy benefit managers have significant bargaining power to negotiate prices. Bargaining power of suppliers: Few manufacturing facilities have capabilities to produce biosimilars at commercial scale. Threat of new substitutes: Potential biosimilar versions from other molecules pose threat of substitution. Intense competition.
Geographical Regions
North America dominates the global market with the largest share in terms of value due to high adoption and awareness about biosimilars. European region also holds significant market share owing to supportive regulatory guidelines and rising healthcare expenditure.
The Asia Pacific region is expected to witness fastest growth over the forecast period due high patient pool, increasing healthcare spending, and emerging local manufacturers developing biosimilars at lower costs than innovator biologics. Countries like China and India are expected to spearhead the growth of APAC biosimilars market.
