Rising Autoimmune Disorders Fuels Tumor Necrosis Factor Inhibitor Drugs Market, Set to Reach $43 Billion by 2027
The Business Research Company’s Tumor Necrosis Factor Inhibitor Drugs Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, November 10, 2023 /EINPresswire.com/ — The global tumor necrosis factor inhibitor drugs market is set to expand steadily, with a projected increase from $41.23 billion in 2022 to $41.84 billion in 2023, demonstrating a Compound Annual Growth Rate (CAGR) of 1.5%. Despite challenges posed by the Russia-Ukraine conflict and the persisting impact of the COVID-19 pandemic, the market is anticipated to reach $43.88 billion by 2027, maintaining a moderate CAGR of 1.2%.
Impact of Rising Autoimmune Illnesses on Market Growth
The accelerated growth of the tumor necrosis factor inhibitor drugs market is primarily attributed to the mounting prevalence of autoimmune disorders. These conditions occur when the body’s immune system inadvertently attacks and damages healthy tissues. Tumor necrosis factor inhibitor drugs are employed in the treatment of autoimmune disorders to curb inflammation, providing relief from pain, swelling, and other associated symptoms. Notably, data from the Autoimmune Association reveals that 4.7 million men in the United States suffered from autoimmune diseases in 2022, representing 20% of all autoimmune disease patients. With an estimated 31 million people in the US affected by 80-150 distinct autoimmune diseases, this figure is projected to increase in the coming years, thereby driving the growth of the tumor necrosis factor inhibitor drugs market.
For Comprehensive Insights into the Global Tumor Necrosis Factor Inhibitor Drugs Market, Refer to the sample Report:
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Market Segments:
• By Product Type: Humira, Enbrel, Remicade, Simponi/Simponi Aria, Cimzia, Biosimilars
• By Route Of Administration: Subcutaneous Injection, Intravenous Injection
• By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
• By Application: Rheumatoid Arthritis, Psoriasis, Psoriatic Arthritis, Crohn’s Disease, Ulcerative Colitis, Ankylosing Spondylitis, Juvenile Idiopathic Arthritis, Hidradenitis Suppurativa, Other Applications
Product Innovations Drive Market Growth
Leading companies such as Pfizer Inc. and Samsung Biologics are actively contributing to product innovations within the tumor necrosis factor inhibitor drugs market. Pfizer’s launch of XELJANZ, designed to treat ankylosing spondylitis in patients unresponsive to one or more TNF blockers, offers a unique treatment option that does not necessitate injections or infusions. Meanwhile, Samsung Biologics’ acquisition of Samsungbioepis Co. Ltd. for $2.3 billion is expected to bolster the former’s biosimilar development capabilities and drive performance in novel drug development.
North America Dominates, Asia-Pacific Emerges as the Fastest-Growing Region
In 2022, North America captured the largest share in the tumor necrosis factor inhibitor drugs market, while the Asia-Pacific region is poised to witness the most rapid growth during the forecast period, presenting lucrative opportunities for the global tumor necrosis factor (TNF) inhibitors drugs market.
For an In-Depth Analysis of the Global Tumor Necrosis Factor Inhibitor Drugs Market, Access the Complete Report:
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Tumor Necrosis Factor Inhibitor Drugs Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Tumor Necrosis Factor Inhibitor Drugs Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on tumor necrosis factor inhibitor drugs market size, tumor necrosis factor inhibitor drugs market drivers and trends, tumor necrosis factor inhibitor drugs market major players, tumor necrosis factor inhibitor drugs market competitors’ revenues, tumor necrosis factor inhibitor drugs market positioning, and tumor necrosis factor medications market growth across geographies. The tumor necrosis factor inhibitor drugs market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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