According to the Market Statsville Group (MSG), the global infliximab market size is expected to grow at a CAGR of 11.3% from 2023 to 2033.
The increasing prevalence of inflammatory diseases such as Crohn's disease and ulcerative colitis are major driving factors for the infliximab market. For instance, according to Crohn's and Colitis Foundation, approximately 3 million people in the United States live with inflammatory bowel disease (IBD), with approximately 70,000 new cases diagnosed yearly. This increasing prevalence of IBD is expected to drive demand for infliximab and other biologic medications. The development of new formulations of the medication, such as subcutaneous injections, which are more convenient for patients than intravenous infusions, are opportunities for the infliximab market. Additionally, expanding the market into emerging regions such as Asia Pacific and Latin America presents a significant opportunity for growth, as the prevalence of inflammatory diseases in these regions is increasing. The increasing use of infliximab for new indications such as psoriasis and psoriatic arthritis presents an opportunity to expand the market into new treatment areas.
Infliximab is a biologic medication used to treat various inflammatory conditions, including Crohn's disease, ulcerative colitis, ankylosing spondylitis, rheumatoid arthritis, psoriatic arthritis, and plaque psoriasis. It is a type of tumor necrosis factor (TNF) inhibitor that works by blocking TNF, a protein contributing to inflammation. Infliximab is typically administered through intravenous (IV) infusion, although some newer formulations of the medication can be given as subcutaneous injections. The medication is typically given in a healthcare setting, such as a hospital or infusion centre. Infliximab is a complex medication that is produced using biotechnology. It is manufactured using recombinant DNA technology, in which genes are inserted into cells to produce the medication. Owing to its complexity and difficulty manufacturing biologics, infliximab is typically more expensive than traditional small molecule drugs. Infliximab has been shown to be effective in treating various inflammatory conditions, and it has been used by millions of patients worldwide.
Many hospitals and infusion centres have been overwhelmed by COVID-19 patients, leading to delays and cancellations of non-urgent procedures such as infliximab infusions. Additionally, the economic impact of the pandemic has led to decreased demand for some medications, including infliximab. Patients may postpone non-essential medical appointments or treatments due to financial concerns or fear of exposure to the virus. While, the pandemic has also highlighted the importance of biologic medications such as infliximab, as patients with inflammatory conditions may be at increased risk of other illness due to COVID-19. As a result, some healthcare providers may be more likely to prioritize infliximab treatment for their patients. Furthermore, the pandemic has enhanced the adoption of telemedicine and home-based healthcare services, including self-administration of medications like infliximab. This trend may continue beyond the pandemic, offering new opportunities for the infliximab market.
The increasing prevalence of inflammatory diseases is one of the key factors driving the demand for infliximab in the global market. Inflammatory diseases such as Crohn's disease, ulcerative colitis, and rheumatoid arthritis are chronic conditions that can significantly impact a patient's quality of life. These conditions are characterized by inflammation, which can cause pain, discomfort, and damage to tissues and organs. As the global population continues to age and lifestyle factors such as poor diet and lack of exercise contribute to the development of chronic diseases, the prevalence of inflammatory diseases is increasing. This has led to an increased demand for medications like infliximab, which effectively manage these conditions' symptoms. Infliximab is a biologic medication that targets tumor necrosis factor (TNF), a protein contributing to inflammation.
Infliximab has been shown to effectively reduce inflammation and improve symptoms in many patients with these conditions. As the demand for infliximab continues to increase, pharmaceutical and biotechnological companies are investing in research and development to improve the effectiveness and safety of the medication. Additionally, the availability of biosimilars for infliximab has increased competition in the market and made the medication more accessible to patients, further driving demand. Overall, the increasing prevalence of inflammatory diseases is a significant driving force for the growth of the infliximab market.
One of the key restraining factors for the infliximab market is the high cost of the medication. Infliximab is a biologic medication that is produced using living cells and is often more expensive to manufacture than traditional medications. As a result, infliximab is typically more expensive than other treatments for inflammatory diseases and can be a significant financial burden for patients. In addition to the high cost of infliximab itself, high costs are associated with administering the medication. Infliximab is typically administered via infusion in a healthcare setting, which can be time-consuming and require significant resources. Patients may also need to receive multiple infusions over time, which can further increase the overall cost of treatment. The high cost of infliximab can make it difficult for some patients to access the medication, particularly in lower-income countries or those without universal healthcare coverage. This can limit the potential market for infliximab and impact the growth of the global infliximab market.
The development of new formulations of infliximab is creating a lucrative growth opportunity for the infliximab market. Infliximab is a complex biologic medication, and there is ongoing research to optimize its formulation and delivery to improve patient outcomes and increase convenience. For instance, subcutaneous formulations of infliximab can be self-administered by patients at home rather than requiring infusion in a healthcare setting. This can significantly reduce the cost and inconvenience of patient treatment, and may also improve adherence to medication regimens. Another area of research is the development of longer-acting formulations of infliximab, which could reduce the frequency of medication administration and further improve patient convenience. One such formulation, infliximab biosphere, is currently in clinical trials and has shown promising results in reducing inflammation in patients with inflammatory bowel disease. The development of these new formulations of infliximab will likely drive increased demand for the medication, particularly in developed markets where patients and healthcare providers place a high value on convenience and patient-centred care. Additionally, the availability of these new formulations could expand the potential market for infliximab to include patients who were previously unable or unwilling to receive infusion-based treatment.
The study categorizes the infliximab market based on product type, indication, and distribution channel area at the regional and global levels.
Based on the product type, the market is divided into remsima, inflectra, and other biosimilars. The remsima segment is expected to dominate the market share in 2022 in the global infliximab market. Remsima is manufactured by Celltrion and was the first infliximab biosimilar to receive approval in Europe. Remsima has been widely studied and has demonstrated similar safety and efficacy to the originator brand in clinical trials, which can help to build confidence among healthcare providers and patients.
Based on the regions, the global infliximab market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022, owing to the high prevalence of chronic inflammatory diseases such as Crohn's disease and rheumatoid arthritis in the region. The availability of advanced healthcare infrastructure and the presence of key players in the region also contribute to the growth of the infliximab market in North America. Moreover, favourable reimbursement policies in the region for biologics such as infliximab is further propelling the market growth. Additionally, the rising demand for biosimilar infliximab in North America is expected to drive the market growth in the region.
The infliximab market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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