LONDON--(BUSINESS WIRE)--The global tumor necrosis factor (TNF) inhibitors market 2019-2023 is expected to post a CAGR of close to 10% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing prevalence of autoimmune disorders such as rheumatoid arthritis, psoriasis, and Chron’s disease. The prevalence of arthritis such as rheumatoid arthritis is higher in women than in men, and it increases with age. Moreover, the increasing incidence of the disorder is expected to increase significantly in women and is expected to constitute about two-thirds of the overall patient population with arthritis.
This market research report on the global TNF inhibitors market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of biosimilars as one of the key emerging trends in the global TNF inhibitors market:
Global TNF inhibitors market: Advent of biosimilars
Currently, the global TNF inhibitors market has five approved biologics, and the market has witnessed an increase in the number of biosimilars, as many of the approved biologics are nearing patent expiration. Various vendors are focusing on developing biosimilars owing to the high efficacy and safety of the biological drugs that are approved for the treatment of various autoimmune diseases. About 50 biosimilars are currently developed for the treatment of various indications, with a good share of the biosimilars being developed for the treatment of autoimmune disorders.
“Biosimilars are comparatively cost-effective than biological drugs and are known to be preferred heavily due to the ease of access, the similar efficacy of original biologics, and the low prices associated with them. Also, these biosimilars get preferred treatment from regulatory authorities for their approval and launch, as they result in cost savings for the federal health care budget,” says a senior analyst at Technavio for research on infectious and rare diseases.
Global TNF inhibitors market: Segmentation analysis
This market research report segments the global TNF inhibitors market by indication (TNF inhibitors for RA, TNF inhibitors for psoriasis, TNF inhibitors for IBD, and others) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018 with a market share of more than 46%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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