Global TNF Alpha Inhibitors Market Segments
The global TNF alpha inhibitors market is expected to decline from $40.66 billion in 2019 to $39.01 billion in 2020 at a compound annual growth rate (CAGR) of -4.06%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $42.86 billion in 2023 at a CAGR of 3.18%.The growing prevalence of inflammatory diseases such as inflammatory bowel disease (IBD) and psoriasis is a key factor driving the growth of the TNF alpha inhibitors market. However, the multiple adverse effects of TNF alpha inhibition identified by clinical trials and post-marketing surveillance include injection site reactions, neutropenia, infusion reactions, and infections, which limits the market.
TNF alpha inhibitors are a group of medicines that conquer the body’s natural response to TNF, a protein produced by white blood cells, involved in early inflammatory events. These are important treatments in the number of inflammatory conditions including spondylarthritis, psoriasis, rheumatoid arthritis (RA), and IBD.
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The global TNF alpha inhibitors market is further segmented based on type and geography.
By Drug: Remicade (infliximab), Enbrel (etanercept), Humira (adalimumab), Cimzia (certolizumab pegol), Simponi (golimumab)
By Route of Administration: Oral, Subcutaneous, Intravenous, Others
By Disease Type: Inflammatory Bowel Disease, Psoriatic Arthritis, Ulcerative Colitis (UC), Rheumatoid Arthritis, Ankylosing Spondylitis, Others.
By Geography: The global TNF alpha inhibitors market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American TNF alpha inhibitors market accounts for the largest share in the global TNF alpha inhibitors market.
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Trends In The TNF Alpha Inhibitors Market
Mergers and acquisitions are a major trend in the market. In May 2020, AbbVie Inc, a US-based biopharmaceutical company, completed the acquisition of Allergan plc for an amount of $63 billion. The acquisition is expected to expand and diversify AbbVie’s revenue base and its existing immunology portfolio. Allergan is an Ireland-based pharmaceutical company engaged in manufacturing and marketing drugs and medical devices in the areas of the central nervous system, eye care, medical aesthetics, and gastroenterology.
TNF Alpha Inhibitors Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides TNF alpha inhibitors market overviews, analyzes and forecasts TNF alpha inhibitors market size and growth for the global TNF alpha inhibitors market, TNF alpha inhibitors market share, TNF alpha inhibitors market players, TNF alpha inhibitors market size, TNF alpha inhibitors market segments and geographies, TNF alpha inhibitors market trends, TNF alpha inhibitors market drivers and TNF alpha inhibitors market restraints, TNF alpha inhibitors market’s leading competitors’ revenues, profiles and market shares. The TNF alpha inhibitors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.