The new report by Expert Market Research titled, ‘Global Tumour Necrosis Factor Inhibitor Drugs Market Growth, Size, Share Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global tumour necrosis factor inhibitor drugs market, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 40.3 billion
- Forecast CAGR (2023-2028): 0.7%
- Forecast Market Size (2026): USD 42 billion
The global tumour necrosis factor inhibitor drugs market is projected to grow due to new product introductions, a well-established R&D sector, an increase in the incidence of autoimmune diseases, and a significant increase in consumer awareness of Tumour Necrosis Factor inhibitor drugs (TNF). Additional impetus to the growth of the market is provided by the rising disposable income, increased healthcare spending, new product launches, and a growing geriatric population.
Globally, the development of efficient and advanced technology, positive government regulations, rising awareness regarding the importance of proper treatment among the populace and healthcare providers is boosting the growth of the tumour necrosis factor inhibitor drugs market. Furthermore, a consumer preference for less expensive drugs with greater safety and efficacy is expected to drive demand for tumour necrosis factor inhibitor drugs in the coming years.
Tumour Necrosis Factor Inhibitor Drugs Industry Definition and Major Segments
TNF, or tumour necrosis factor, is a multifunctional protein cytokine produced by immune cells. This cytokine protein causes inflammation in the body and is involved in many cellular functions such as death, survival, differentiation, and cell proliferation. Tumour necrosis factor inhibitors suppress the body’s innate response to tumour necrosis factor.
Tumour necrosis factor inhibitors are medications that help to reduce inflammation in the body. These drugs are used to treat numerous conditions such as Crohn’s disease, ulcerative colitis, ankylosing spondylitis, plaque psoriasis, psoriatic arthritis, and juvenile and rheumatoid arthritis. They are also known as anti-TNF drugs, biologic therapies, and TNF blockers. Many TNF inhibitors have been approved for use by the US Food and Drug Administration.
By vehicle type, the market is divided into:
- Simponi/Simponi Aria
By end-use, the market is divided into:
- Rheumatoid arthritis
- Psoriatic Arthritis
- Crohn’s Disease
- Ulcerative Colitis
- Ankylosing Spondylitis
- Juvenile Idiopathic Arthritis
- Hidradenitis Suppurativa
By region, the industry is categorised into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Tumour Necrosis Factor Inhibitor Drugs Market Trends
The industry is expected to gain traction in the coming years due to the rise in multi-source investment and the pharmaceutical industry’s increasing growth. Increasing investment trends in tumour necrosis factor inhibitor drugs production by manufacturers and research and development of innovative tumour necrosis factor inhibitor drugs with low side effects are expected to boost the overall tumour necrosis factor inhibitor drugs market demand from 2021 to 2026. Biosimilars pose a direct internal threat to biologics in the TNF inhibitor market. Patent expirations in various regions pave the way for biosimilars.
Furthermore, the market is embroiled in a fierce competitive rivalry with Interleukin (IL) inhibitors. In several head-to-head clinical trials, IL inhibitors have been shown to have improved safety and efficacy profiles, as well as superior results. The market is expected to see more growth in the coming years due to the growing R&D initiatives of the players engaged in the industry.
Increasing government funding and the growing pharmaceutical industry are projected to add more fuel to market growth. The growing geriatric population is also projected to help market growth in the coming years. Over the forecast period, factors such as the rising regulatory uses of tumour necrosis factor inhibitor drugs and their ease of availability are projected to fuel market growth.
The tumour necrosis factor inhibitor drugs market in North America is currently leading, and it is expected to remain dominant throughout the forecast period. This is due to the growing volume of North American drug regulatory approvals. In the global tumour necrosis factor inhibitor drugs industry, Europe is predicted to occupy the second largest role.
In addition to a growing understanding of inflammatory diseases, the emergence of a significant patient population fuels demands and growth of the market. In view of the number of regulations being implemented by governments and non-governmental organizations, Asia-Pacific is anticipated to be the fastest-growing market for tumour necrosis factor inhibitor drugs market.
The growth is also attributed to the growing penetration of leading companies, the booming medical and pharma industry, and the region’s developing medical safety regulations. The high prevalence of diseases, combined with consistent government efforts to increase affordable treatments, are expected to drive demand in Central and South America over the forecast period. Furthermore, foreign market players’ efforts to develop their businesses in the Middle East are expected to impact the region’s market development significantly.
Key Market Players
The major players in the market are AbbVie, Inc, Amgen, Inc., Johnson & Johnson Services, Inc., UCB S.A., Pfizer, Inc., Novartis International AG, Merck & Co., Inc., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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