Remicade Biosimilars Market is Estimated To Witness High Growth Owing To Growing Oncology Patient Base

Remicade Biosimilars Market


Remicade biosimilars are biologics drugs that are developed to be similar to an existing biologic drug (in this case infliximab, sold under the brand name Remicade) that is manufactured by a different company. Remicade biosimilars offer more treatment options for diseases like Crohn’s disease, ulcerative colitis, rheumatoid arthritis and other diseases treated with infliximab. They provide a more affordable alternative to the original biologic drug.

The Remicade Biosimilars Market is estimated to be valued at US$ 3,007.28 Mn in 2023 and is expected to exhibit a CAGR of 35.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growing prevalence of inflammatory bowel disease (IBD) and other autoimmune disorders is a key factor driving the demand for biosimilar versions of Remicade. IBD incidence rates continue to rise globally, especially in developed nations. For instance, according to 2018 statistics provided by Crohn’s and Colitis Foundation, approximately 3 million Americans suffer from IBD. Biosimilar drugs offer a more cost-effective treatment solution to a growing patient pool. Furthermore, patent expiration of the originator drug Remicade and subsequent market entry of its biosimilars is boosting competitio

Porter’s Analysis
Threat of new entrants: Entry of new players remains challenging due to requirement of extensive R&D facilities, clinical trials, manufacturing facilities and distribution network. However, patent expiration creates opportunities.
Bargaining power of buyers: Large group purchasing organizations and presence of biosimilar options increase bargaining power of buyers.
Bargaining power of suppliers: Suppliers have moderate power due to presence of a few generic drug makers with specialized manufacturing capabilities.
Threat of new substitutes: Emergence of novel therapies for autoimmune diseases can divert market share. However, proven efficiency and safety of Remicade acts as barrier.
Competitive rivalry: Intense rivalry exists among large drug makers like Janssen and emerging biosimilar makers to gain market share.

SWOT Analysis
Strength: Established effectiveness and safety of Remicade for treating several autoimmune diseases. Large patient base of indicated conditions.
Weakness: High manufacturing costs and stringent regulatory barriers. Risk of drug-induced adverse effects and immunogenicity.
Opportunity: Patent expiration of Remicade provides opportunity for biosimilars. Increasing incidence of targeted diseases offers untapped growth prospects.
Threats: Entry of new treatment substitutes like anti-TNF drugs poses competitive threat. Pricing pressure from group purchasing organizations.

Key Takeaways

Global Remicade Biosimilars Market Demand is expected to witness high growth, exhibiting CAGR of 35% over the forecast period, due to increasing incidence rates of autoimmune diseases like rheumatoid arthritis, Crohn's disease etc. and rising demand for affordable biologics.

Regionally, North America dominated the global market in 2023 and is projected to maintain its lead over 2023-2030. This is attributed to growing prevalence of targeted diseases, favourable reimbursement scenario and early adoption of biosimilar drugs in the US. Meanwhile, Asia Pacific is poised to witness fastest growth during the forecast period due to increasing healthcare investments, large patient pool and patent expiration of Remicade providing scope for biosimilars in emerging countries.

Key players operating in the Remicade Biosimilars market are Janssen Biotech Inc., Merck &Co., Pfizer Inc. (AC. Hospira), Celltrion Inc., Alvogen, Napp Pharmaceuticals, and Nippon Kayaku. Major players are engaged in new product development and geographic expansion strategies to solidify their market position. 

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