Albany, New York, Oct. 09, 2019 (GLOBE NEWSWIRE) -- A latest report by Transparency Market Research expects the global TNF inhibitors market to develop at a rapid pace. According to the report, the TNF inhibitors market will exhibit a CAGR of 2.54% during the given forecast period of 2018 to 2026. With this rate of growth, the global TNF inhibitors will reach a valuation of US$53,745.37 Mn by 2026. This is a substantial growth in terms of valuation as compared to the initial record of US$40,369.8 Mn back in 2017.
In recent years, several prominent drugs such as remicade, Enbrel, and humira have had their patents expried. Moreover, some other key TNF inhibitors drugs’ patents are set to expire in coming years. With the emergence of biosimilar products at a lower price, the consumption of TNF inhibitors is likely to increase in coming years. This is thus one of the biggest driving factor for the growth of the global TNF inhibitors market.
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North America to Continue to Lead the Global Market
There are five key regional segments that divide the global TNF inhibitors market. These are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Of these the global market is expected to be led by the North America followed by Europe. These two regions collectively accounted for nearly 87.7% of the overall market share in 2017. North America is expected to continue leading the global market during the given period of forecast. The growth of the region can be attributed to the high prevalence of several inflammatory disorders such as inflammatory bowel disease and rheumatoid arthritis in North America.
Similarly, the growth of the Europe market is also expected to be on the higher side during the given forecast period. The growth of the market is due to the increasing geriatric population in the region that is suffering from inflammatory disorders. Moreover, the easy availability of new therapeutics and healthcare technologies is also expected help the TNF inhibitors market to grow.
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On the other hand, the TNF inhibitors market in Asia Pacific is expected to show a highly promising rate of growth. One of the key reasons behind the growth of the Asia Pacific regional market is the emergence of developing nations such as India and China that are investing on the development of their healthcare infrastructure. Moreover, there has been a considerable rise in terms of awareness about tackling these inflammatory conditions with new techniques and therapeutics. This is also expected to help the Asia Pacific market to grow more. Another important factor that is influencing the regional market growth is the low labor cost in the emerging nations. This has led to the establishment of several production facilities in these regions and thus helping the TNF inhibitors market to grow further.
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Development of New Products is Key for Leading Market Players
The competitive landscape of the global TNF inhibitors market is a fairly consolidated one with only handful of leading players keeping hold of the market. Some of the prominent names in the global market for TNF inhibitors include Takeda Pharmaceutical Company, Merck & Co., Biogen, Samsung Bioepis, Pfizer Inc., Amgen Inc., UCB, Janssen Biotech Inc., and AbbVie Inc. among others. These market leaders are concentrating more further bolstering their brand value and loyalty among their consumers. They are also trying to develop a wide range of products and also a highly developed supply chain system across the globe.
In addition to this, the emerging players in the market are now trying to cement their position. They are trying to tap into the previously unexplored geographies in the emerging nations to generate strong revenue systems.
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This review is based on the research report by Transparency Market Research titled ‘TNF Inhibitors Market (Drug - Adalimumab, Certolizumab, Etanercept, Golimumab, Infliximab; Application - Rheumatoid Arthritis, Psoriasis, Inflammatory Bowel Disease, Ankylosing Spondylitis; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Pharmacy - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026’
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