Introduction to HUMIRA
HUMIRA, also known as adalimumab, is a biologic medication used to treat various autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, and ulcerative colitis. Here’s a comprehensive analysis of the market and sales projections for HUMIRA.
Current Market Size and Growth
The global HUMIRA market has seen significant growth in recent years. As of 2023, the market size was valued at $9.19 billion and is expected to grow to $9.86 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%[1].
By 2028, the market is projected to reach $13.05 billion, driven by factors such as the entry of biosimilars, healthcare policy changes, a focus on cost-effectiveness, and investments in research and development[1].
Market Segmentation
By Type
The HUMIRA market is segmented into two main types: Humira Syringe and Humira Pen. The Humira syringes segment is forecasted to account for the most significant share in the global market due to the rising elderly population and ease of administration[4].
By Application
HUMIRA is used to treat several autoimmune diseases, including:
- Ankylosing Spondylitis: This segment is estimated to register a significant share in the global market.
- Rheumatoid Arthritis: A major indication for HUMIRA, contributing substantially to its market size.
- Crohn's Disease: Another key application, especially with the rise in incidence rates of autoimmune diseases.
- Other Applications: Including psoriatic arthritis, ulcerative colitis, and noninfectious autoimmune uveitis[1][4].
By End-Users
The market is segmented into:
- Hospitals
- Specialty Clinics
- Other End-Users
These segments are crucial as they reflect the diverse settings in which HUMIRA is administered and prescribed[1].
Drivers of the Market
Rise in Autoimmune Diseases
The increasing incidence rate of autoimmune diseases is a significant driver. For instance, 1 in 15 people in the U.S. have an autoimmune disease, with conditions like lupus and Crohn’s disease contributing to the demand for HUMIRA[1].
Regulatory Approvals
Broad regulatory approvals across multiple countries and regions have increased the accessibility of HUMIRA. For example, the FDA approved an efficacy supplement for HUMIRA for pediatric patients with ulcerative colitis, and the European Commission granted marketing authorization for a citrate-free high concentration formulation of its biosimilar[1].
Technological Advancements and R&D
Continuous scientific advancements and investments in research and development are driving the market. This includes the development of biosimilars and new treatment procedures, which are expected to offer growth opportunities[4].
Restraints of the Market
High Costs
HUMIRA is an expensive drug, with monthly costs ranging from $2,000 to $3,000, which can hinder market growth. This high cost is a significant restraint, especially in regions with limited healthcare budgets[4].
Biosimilar Competition
The entry of biosimilars has led to a decline in HUMIRA sales, particularly after the loss of U.S. patent protection. This competition is expected to continue affecting HUMIRA's market share in the coming years[2][5].
Impact of COVID-19
The COVID-19 pandemic had various impacts on the pharmaceutical industry, including disruptions in supply chains and changes in healthcare priorities. However, the demand for HUMIRA remained relatively stable due to its essential nature in treating chronic autoimmune diseases[1].
Future Projections
Sales Projections
By 2032, the global HUMIRA market is projected to reach $13.62 billion at a CAGR of 5.11% from 2024 to 2032. This growth will be driven by factors such as improved disease diagnostics, strong support for biopharmaceuticals, and the emergence of new technologies[4].
Regional Growth
- North America: This region had the largest share in the global HUMIRA market in 2023, driven by advanced healthcare facilities and technological advancements.
- Europe: The second-largest regional market, with countries like the UK and Germany driving growth.
- Asia Pacific: One of the fastest-growing regions, with countries like China, India, and Japan contributing significantly to the market growth.
- Latin America: Countries such as Brazil, Mexico, and Argentina are also seeing significant growth due to increasing awareness and regulatory support[4].
AbbVie's Strategy Post-Humira Patent Expiry
Following the loss of patent protection for HUMIRA, AbbVie is relying on its newer immunology drugs, Skyrizi and Rinvoq, to offset the revenue decline.
- Skyrizi and Rinvoq: These drugs are expected to collectively exceed $27 billion in sales by 2027, with Skyrizi reaching $17 billion and Rinvoq hitting $10 billion. These projections indicate robust growth and a significant contribution to AbbVie's total revenue[5].
"By 2030, the company is forecast to generate total revenue of $75.4 billion, a 39% increase from 2023," - GlobalData report[2].
Key Takeaways
- Market Growth: The HUMIRA market is expected to grow significantly, driven by rising autoimmune disease incidence and broad regulatory approvals.
- Segmentation: The market is segmented by type, application, and end-users, with Humira syringes and ankylosing spondylitis being key segments.
- Drivers and Restraints: Drivers include the rise in autoimmune diseases and technological advancements, while high costs and biosimilar competition are significant restraints.
- Future Projections: The market is projected to reach $13.62 billion by 2032, with regional growth driven by North America, Europe, and the Asia Pacific.
- AbbVie's Strategy: AbbVie is focusing on Skyrizi and Rinvoq to offset the decline in HUMIRA sales post-patent expiry.
FAQs
Q: What is the current market size of HUMIRA?
A: The global HUMIRA market size was valued at $9.19 billion in 2023 and is expected to grow to $9.86 billion in 2024[1].
Q: What are the main drivers of the HUMIRA market?
A: The main drivers include the rise in autoimmune diseases, broad regulatory approvals, and technological advancements[1][4].
Q: How will the entry of biosimilars affect HUMIRA sales?
A: The entry of biosimilars has led to a decline in HUMIRA sales, particularly after the loss of U.S. patent protection. This competition is expected to continue affecting HUMIRA's market share[2][5].
Q: What is AbbVie's strategy to offset the decline in HUMIRA sales?
A: AbbVie is relying on its newer immunology drugs, Skyrizi and Rinvoq, to offset the revenue decline. These drugs are expected to collectively exceed $27 billion in sales by 2027[5].
Q: What is the projected market size of HUMIRA by 2032?
A: The global HUMIRA market is projected to reach $13.62 billion by 2032 at a CAGR of 5.11% from 2024 to 2032[4].
Sources
- The Business Research Company: Humira Drug Market Forecast Report 2024, Industry Size, 2033.
- FiercePharma: AbbVie's Humira 2.0 drug couple Skyrizi, Rinvoq will help sales rebound amid biosimilar.
- GlobeNewswire: US HUMIRA Market Projected for Extensive Growth by 2032 in Noninfectious Autoimmune Uveitis Sector.
- Market Data Forecast: Humira Market Size, Share & Growth Report, 2032.
- FiercePharma: As Humira plummets, AbbVie dials up Rinvoq and Skyrizi sales goals combined $27B.
