The Biologic and Biosimilar RA Drugs by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biologic and Biosimilar RA Drugs, The biologic and biosimilar ra drugs market size has grown strongly in recent years. It will grow from $13.44 billion in 2023 to $14.15 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to market adoption rates, clinical trial outcomes, market share changes, long-term patient outcomes, pricing strategies.
The biologic and biosimilar ra drugs market size is expected to see strong growth in the next few years. It will grow to $18.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing biologic drug development, market competition, healthcare policies, patient preferences, clinical research and development. Major trends in the forecast period include rise in biosimilar market competition, personalized medicine and precision therapy, advancements in drug delivery systems, focus on safety and efficacy, patient-centric healthcare.
The rising older population and increasing incidence of rheumatoid arthritis are driving the biologics and biosimilar RA drugs market forward. The older population refers to people who are aged 60 years or older. Rheumatoid arthritis is an autoimmune disease in which the immune system of a person attacks its healthy cells, and the joints of the person are affected. Rheumatoid arthritis is most likely to affect people in old age as the immune system gets weaker with old age. Biologics and biosimilar RA drugs are very useful for the treatment of rheumatoid arthritis as compared to conventional drugs. For instance, according to the World Health Organization (WHO), a Switzerland-based specialized health agency of the United Nations, there were about 1 billion people aged 60 and above in the world in 2020 and this population is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050. Furthermore, according to the Centers for Disease Control and Prevention, a US-based governmental public health agency, the number of adults suffering from arthritis in the USA is expected to increase to 78.4 million by 2040 while 34.6 million people may suffer from arthritis-related activity limitations. Therefore, the increasing geriatric population along with the increasing RA cases is driving the biologics and biosimilars RA drugs market forward.
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The Biologic and Biosimilar Ra Drugs Market Covered In This Report Is Segmented –
1) By Source: Microbial, Mammalian, Other Sources
2) By Disease: Oncology, Immunological Disorders, Cardiovascular Disorders, Hematological Disorders, Other Diseases
3) By Manufacturing: Outsourced, In-House
4) By Mode Of Purchase: Prescription Drugs, Over-The-Counter (OTC) Drugs
5) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
New innovations are a key trend in gaining popularity in the biologic and biosimilar RA drugs market. Major companies operating in the biologic and biosimilar RA drugs market are focused on developing biosimilar treatments such as Dual Concentration Biosimilar Options to provide an affordable alternative. For instance, in July 2023, Organon, a US-based healthcare company, and Samsung Bioepis, a South Korea-based biopharmaceutical company, launched HADLIMA, a biosimilar of Humira (adalimumab), in the US. Available in high and low concentrations, HADLIMA aims to enhance access and affordability for patients with autoimmune diseases. The biosimilar is priced at an 85% discount to Humira, contributing to expanded patient access. HADLIMA includes an autoinjector, recognized by the Arthritis Foundation, and a patient support program, “”””HADLIMA For You,”””” offering educational resources and co-pay support. It is indicated for various conditions, including rheumatoid arthritis and Crohn’s disease. HADLIMA is available in both citrate-free high concentration (100 mg/mL) and citrate-containing low concentration (50 mg/mL), providing patients with seamless continuity of care
The Biologic and Biosimilar Ra Drugs Market Report Table Of Contents Includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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