Remicade, also known as infliximab, is a monoclonal antibody designed to treat autoimmune diseases such as Crohn’s disease, ulcerative colitis, rheumatoid arthritis, ankylosing spondylitis, and psoriatic arthritis. The biologic acts by inhibiting tumor necrosis factor (TNF), a pro-inflammatory cytokine involved in systemic inflammation. Remicade biosimilars offer a more affordable treatment option as they work in a similar way to the reference product but are manufactured through a different process.
The global Remicade Biosimilars Market is estimated to be valued at US$ 3007.28 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis and ankylosing spondylitis has been a major factor driving the demand for biological treatment options like Remicade and its biosimilars. According to a study published in Global Health Journal, globally over 1 billion people suffer from some form of autoimmune disease. As biosimilars offer a more affordable treatment alternative, their uptake is increasing among patients suffering from chronic ailments. This has significantly contributed to the rising demand for Remicade biosimilars globally.
SWOT Analysis
Strength: Global Remicade Biosimilars Market Size provide similar quality and efficacy as reference drug but at lower cost
Weakness: Development of Remicade biosimilars requires extensive clinical research and complies stringent regulations
Opportunity: Patent expiration of reference drug Remicade and increasing healthcare costs provide opportunity for biosimilar market growth
Threats: Stringent approval process and potential patent litigations pose threat to timely market entry of Remicade biosimilars
Key Takeaways
The global Remicade Biosimilars market is expected to witness high growth. The global Remicade Biosimilars Market is estimated to be valued at US$ 3007.28 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030.
The North America region currently dominates the global Remicade biosimilars market. This is attributed to the favorable reimbursement policies and increasing prevalence of autoimmune diseases in the region. However, Asia Pacific region is expected to exhibit fastest growth owing to rising healthcare expenditure, growing geriatric population and increasing awareness about biosimilars in countries like China and India.
Key players
Key players operating in the Remicade biosimilars market are Celltrion Healthcare, Dr. Reddy’s Laboratories Ltd., Teva Pharmaceuticals, Pfizer, and Samsung Bioepsis. Celltrion Healthcare’s Remsima is the first approved biosimilar version of Remicade and has achieved major market shares across several countries since its launch in 2015. Dr. Reddy’s recently launched its Remicade biosimilar Inflectra in several European countries as well.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
