Remicade biosimilars are cost-effective versions of the original monoclonal antibody infliximab used for treating diseases such as rheumatoid arthritis and inflammatory bowel disease. With increasing incidence of such conditions, there has been a rise in demand for affordable treatment options. Remicade biosimilars offer comparable therapeutic efficacy to innovator products with significant cost savings.
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:
As chronic diseases place a substantial economic burden, governments and healthcare systems are encouraging the use of biosimilars to curtail rising healthcare expenditures. According to the American College of Rheumatology, approximately 50% of rheumatologists prefer prescribing biosimilar medicines when available due to their identical safety and efficacy profiles and significantly lower costs in comparison to reference products. These factors have led to higher adoption of Remicade biosimilars globally over the forecast period.
Segment Analysis
The Global Remicade Biosimilars Market Size is dominated by the rheumatoid arthritis sub-segment due to rising cases of autoimmune diseases. Remicade has been a blockbuster drug extensively used for treating rheumatoid arthritis conditions. As the patent of Remicade expired in 2014, several drug makers developed its biosimilar versions at lower costs. This has boosted the uptake of Remicade biosimilars for rheumatoid arthritis therapy.
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.
Regional analysis related content comprises The European region holds the largest share of the Remicade biosimilars market owing to streamlined regulatory framework for biosimilars acceptance and commercialization. This has facilitated faster market entry of biosimilar versions of Remicade in Europe as compared to other regions.
Key players related content comprises Key players operating in the Remicade Biosimilars market are Pfizer Inc., Eli Lilly and Company, Sandoz International GmbH (Novartis AG), Samsung Bioepis NL B.V., Celltrion Healthcare Co., Ltd. Pfizer's infliximab-abda and Samsung Bioepis' SB5 have captured significant market share as both drugs have proved to be clinically equivalent to Remicade with biosimilar pricing providing significant cost-savings to the healthcare systems.
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