Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Tumor Necrosis Factor Inhibitor Drugs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The tumor necrosis factor (TNF) inhibitor drugs market is expected to experience steady growth over the next five years, with a projected market size of $46.9 billion by 2028. This growth represents a compound annual growth rate (CAGR) of 2.3% from 2024, following a previous increase from $42.01 billion in 2023 to an estimated $42.75 billion in 2024.
This market research highlights a multitude of influences contributing to this expansion, notably the rising incidence of autoimmune diseases and the global surge in healthcare expenditures. Market trends also point towards product innovations and strategic partnerships as significant drivers of growth within the TNF inhibitor drugs arena.
Regional Spotlight
North America continues to lead the market as of 2023, while the Asia-Pacific region is projected to witness the fastest growth during the forecast period, catalyzed by enhanced healthcare infrastructures and increasing accessibility to advanced therapies.
Autoimmune Diseases: A Driving Force in Market Growth
Autoimmune diseases, where the immune system erroneously targets healthy tissue causing inflammation, pain, and swelling, significantly fuel the demand for TNF inhibitor drugs. With reports indicating millions affected by such diseases in the US alone, the necessity for effective treatments is clearer than ever, and TNF inhibitors are at the forefront in addressing these healthcare needs.
Healthcare Spending on the Rise
An increase in healthcare spending is associated with improved patient access to innovative treatments. TNF inhibitors, being among the advanced biologic drugs, stand to benefit from the observed uptick in healthcare expenditure, positioning the market for upward growth.
Product Innovations and Strategic Partnerships Enhancing Market Dynamics
- Companies like Pfizer Inc. are innovating with new products such as XELJANZ for ankylosing spondylitis treatment.
- A collaborative effort announced in July 2022 aims to transform the biologic medication infliximab into an oral capsule for irritable bowel disease (IBD), showcasing the market's push towards patient-centric solutions.
Numerous key players are identified as front-runners in the TNF inhibitor drugs market, with industry giants like AbbVie Inc., Amgen Inc., and Johnson & Johnson Services Inc. continuing to develop and enhance their product portfolios. Recent strategic acquisitions, such as Samsung Biologics' purchase of Samsung Bioepis, underscore the competitive nature and the importance of innovation within the market.
A selection of companies mentioned in this report includes:
- AbbVie Inc.
- Amgen Inc.
- Johnson & Johnson Services Inc.
- UCB S.A.
- Novartis International AG
- Pfizer Inc.
- Samsung Bioepis Co. Ltd.
- Sanofi SA
- Merck & Co. Inc.
- Boehringer Ingelheim Pharmaceuticals
- Lupin Ltd.
- Ablynx NV
- Momenta Pharmaceuticals Inc.
- F. Hoffmann-La Roche AG
- Cadila Healthcare Ltd.
- Apogenix AG
- Aryogen Biopharma
- Bionovis
- Casi Pharmaceuticals
- Celltrion Inc.
- Bristol-Myers Squibb
- Delenex Therapeutics
- Dexa Medica
- Epirus Biopharmaceuticals
- Glaxosmithkline plc
- Hanall Biopharma
- Intas Pharmaceuticals
- Leo Pharma AS
- LG Chem Ltd.
- Biogen Inc.
For more information about this report visit https://www.researchandmarkets.com/r/v06rfd
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