The remicade biosimilar market is projected to grow at a CAGR of 35.9% during the forecast period. The current valuation of the market is USD 2212.86 million in 2022. The market value of the remicade biosimilar market is anticipated to reach a value of USD 47,549.77 million by the year 2032.
| Report Attribute | Details |
|---|---|
| Remicade Biosimilar Market Value (2022) | USD 2212.86 million |
| Remicade Biosimilar Market Anticipated Value (2032) | USD 47,549.77 million |
| Remicade Biosimilar Market Projected Growth Rate (2022 to 2032) | 35.9% |
Biosimilar can be defined as a type of biological product that is highly similar to an already FDA approved drug, known as reference biological product. Biosimilars are drugs licensed by U.S. FDA and European Medicine Agency (EMA) and reflect no clinical and meaningful differences from the reference products in terms of safety, purity, efficacy and effectiveness.
These biosimilar drugs can only be approved for the indications and conditions that have been previously approved for the reference product by big regulatory agencies.
Remicade (infliximab) is a monoclonal antibody originally produced by Janssen Biotech Inc., and Merck & Co. (MSD) in partnership and licensed by the U.S. FDA in 1998. It is used in the treatment of Crohn’s disease in both adult and pediatric patients.
it is also used for treatment of active ulcerative colitis, moderate to severe rheumatoid arthritis in combination with methroxate, spinal and active psoriatic arthritis, and plaque psoriasis. The U.S. FDA has approved a biosimilar drug similar to Remicade, named Inflectra, on 05 April, 2016, which is expected to erode the market share of Remicade due to lower competitive pricing.
Inflectra (infliximab dyyb) is sold in the European market, after receiving an approval from the EMA’s CHMP in June, 2013 under the brand name Remsima (developed by South Korea’s Celltrion Healthcare and marketed by Pfizer’s Hospira).
The drug Remsima is sold at a discount of 30% than that of original Remicade in 11 European markets including UK, France, Germany and Italy. Another Japanese company, Nippon Kayaku launched Infliximab BS in Japan on 28 November 2014 – however, the Japanese license only covers Crohn’s disease, rheumatoid arthritis and ulcerative colitis indications.
The U.S. FDA has now launched Remicade’s biosimilar Inflectra, which is only the second biosimilar drug to be approved by the agency.
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The remicade biosimilar market has been witnessing an unprecedented surge in recent years due to its increased usage for many ailments. Remicade biosimilar drugs are highly used for the treatment of ulcerative colitis, moderate to severe rheumatoid arthritis in combination with methotrexate, spinal and active psoriatic arthritis, and plaque psoriasis.
FMI has analyzed that the surging incidences of autoimmune diseases particularly rheumatoid arthritis and plaque psoriasis are bolstering the market demand for remicade biosimilar drugs. These drugs have faster reaction times, which serves as a key element fueling the adoption of remicade biosimilar drugs. It has been identified by expert analysts at FMI that the entry of biosimilar versions could provide financial relief to the healthcare systems and improve patients’ accessibility to essential medication.
Although the market is advancing at a healthy pace, it is anticipated that certain elements prevailing in the forum are likely to deter the growth of the market during the forthcoming years, including heavy usage of remicade biosimilar drugs, which could lead to hospitalization or even fatal. These include bacterial sepsis, invasive fungal infections, and more.
Due to the existence of numerous international and regional companies, the market for remicade biosimilars is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world.
The key players proliferating in the market are making major investments in research and development activities for biosimilar production. It is estimated that Europe holds a dominant position in the global Remicade biosimilar market and is expected to retain its dominance over the forecast period, owing to the presence of top market players in the region, rapid entry of biosimilars in the European market as well as high adoption rate due low price of the biosimilars. Developments in healthcare infrastructure and approval of remicade biosimilars by regional players to market the products internationally are estimated to create lucrative opportunities for the Asia Pacific market in the long run.
Therefore, it is expected that the remicade biosimilar market is likely to have significant growth through the forecast period.
Drivers for the Remicade biosimilar include rising incidence of autoimmune diseases particularly rheumatoid arthritis and plaque psoriasis, early patent expiry of the branded version, discounted pricing across the European market and faster reaction times due to intravenous mode of administration.
Further, entry of biosimilar version could provide financial relief on healthcare systems and improve patient’s accessibility to essential medication.
Barriers of the Remicade biosimilar include serious side effects associated with the use of drug that could lead to hospitalization or even be fatal. These include tuberculosis, bacterial sepsis, invasive fungal infections (such as histoplasmosis) and others.
As such, manufacturer of the drug has been mandated to include a “Boxed Warning” to alert both healthcare professionals and patients. Further, complex nature of the molecule and lack of FDA approved facilities for manufacturing the drug are factors that could restrain the growth of the drug’s market in developing regions.
Principal Consultant
Early loss of patent exclusivity is one the major factors that could fuel attractive market growth of the Remicade biosimilar over the forthcoming years. Rising prevalence of relevant autoimmune disorders coupled with discounted pricing of the Remicade biosimilar in European markets are factors expected to contribute to increased referral and consumption of the drug.
Development of faster approval procedures and proper U.S. FDA approved manufacturing facilities in the regional nodal countries are factors that contribute to increased drug uptake. Further, distinct naming and transparent labeling to ensure correct prescribing and dispensing and enhanced post-marketing surveillance are factors that could contribute largely towards prescriber confidence, and enhanced market uptake of the drug over the coming years.
However, safety issues concerning manufacturing facilities along with potential side effects of drug consumption could hamper for acceptance of infliximab biosimilar over the long run.
Depending on geographic regions, global Remicade biosimilar market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
In terms of geography, Europe dominates the Remicade biosimilar market, followed by Japan and Latin America. The prime reason for the same is the launch of the biosimilar version soon after the patent expiry of the branded version.
However, systematic and faster drug review process is expected to create revenue traction in markets over North America and other regions. Stringent regulatory approval procedures and streamlined manufacturing guidelines, particularly in the Central and South American nations, could lead to development of effective regional manufacturing and distribution strategies for Remicade biosimilars.
Finally, rising government support for development of biosimilar drugs and low switching tendency from physicians secure the future market growth of the biosimilar in the near term.
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Some of the key market players in Remicade (infliximab – mAb) market are Janssen Biotech Inc., Merck &Co., Pfizer Inc. (AC. Hospira), Celltrion Inc., Alvogen, Napp Pharmaceuticals, and Nippon Kayaku.
The upcoming research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides opportunity assessment according to categories such as disease indication and geographies among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The Remicade (infliximab) biosimilar market is segmented based on approved disease indications and regions.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Disease Indication 7. Global Market Analysis and Forecast, By Disease Indication 7.1. Crohn’s disease 7.2. Rheumatoid arthritis 7.3. Ankylosing spondylitis 7.4. Psoriatic arthritis 7.5. Ulcerative Colitis 7.6. Plaque psoriasis 8. Global Market Analysis and Forecast, By Region 8.1. North America 8.2. Western Europe 8.3. Eastern Europe 8.4. Asia Pacific excluding Japan 8.5. Japan 8.6. Latin America 8.7. MEA 9. North America Sales Analysis and Forecast, by Key Segments and Countries 10. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 11. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 12. Asia Pacific excluding Japan Sales Analysis and Forecast, by Key Segments and Countries 13. Japan Sales Analysis and Forecast, by Key Segments and Countries 14. Latin America Sales Analysis and Forecast, by Key Segments and Countries 15. MEA Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by Disease Indication for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. Janssen Biotech Inc. 18.2. Merck & Co. 18.3. Pfizer Inc. (AC. Hospira) 18.4. Celltrion Inc. 18.5. Alvogen 18.6. Napp Pharmaceuticals 18.7. Nippon Kayaku
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Remicade Biosimilar Market
