Golimumab Market
Number of pages: 100 | Report Format: PDF | Published date: April 27, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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CAGR |
5.73% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Indications, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global golimumab market is expected to register a revenue CAGR of 5.73% by 2031.
Golimumab Market Fundamentals
Golimumab is a monoclonal antibody of the tumor necrosis factor (TNF) inhibitor class. It is mostly used to treat autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis. Golimumab acts by blocking the function of TNF, a protein involved in inflammation and immune system response. Golimumab reduces inflammation, relieves symptoms, and improves the quality of life in individuals with certain diseases by inhibiting TNF.
In recent years, there have been many market advances and possibilities for golimumab. One significant trend is the growing demand for biological medicines, such as TNF inhibitors, as a therapy option for autoimmune illnesses. The expanding understanding of the underlying causes of many diseases and the desire for more effective and focused therapies are driving this trend. Furthermore, the increased frequency of autoimmune illnesses globally and an aging population are likely to drive demand for golimumab even higher. Golimumab is a promising drug that has shown efficacy in treating autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. Its ability to target specific proteins in the immune system makes it a valuable addition to the arsenal of treatments available for these conditions.
Golimumab is being developed, manufactured, and marketed by several pharmaceutical companies. Janssen Biotech, Inc., a Johnson & Johnson company that holds the patent and offers golimumab under the brand name "Simponi," is one of the leading market participants. Janssen Biotech has been actively involved in R&D to broaden golimumab's indications and investigate its potential in other therapeutic areas. They have also participated in other clinical trials to collect further data on the safety and efficacy of golimumab in diverse patient categories. Golimumab is now licensed to treat rheumatoid arthritis and psoriatic arthritis, among other autoimmune illnesses. In the future, continuing research and clinical studies may lead to new applications for golimumab.
Golimumab Market Dynamics
Autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis, impact millions of individuals globally. The rising frequency of these autoimmune disorders may increase the demand for effective treatment alternatives, such as Golimumab, licensed for these purposes. As the population ages and autoimmune disease knowledge and diagnosis improve, demand for golimumab and other biologic medications may rise, boosting the market. Furthermore, the rising cost of healthcare and the increasing use of biological medications to treat autoimmune diseases will likely drive the expansion of the golimumab market. However, the high costs of these pharmaceuticals and the availability of other treatment choices may limit market expansion.
Investment from top companies might result in greater marketing and promotion activities for Golimumab. Increased marketing and promotion of golimumab as a treatment option might boost awareness of the drug, thereby driving acceptance and market demand. Moreover, investment in R&D might result in innovations such as new formulations, administration techniques, or additional indications. This might result in a more effective and convenient medication, attracting more healthcare professionals and patients and eventually driving the golimumab market.
Many top market players in the golimumab market are increasing their geographic reach. This trend is driven by the rising demand for Golimumab across different regions and the need to cater to a larger customer base. For instance, Lupin Limited (Lupin) and DKSH, in September 2022 signed an exclusive licensing and supply deal to commercialize five of Alvotech's planned biosimilars in the Philippines. This agreement calls for the development of biosimilars for Prolia® (denosumab 60mg/ml), Xgeva® (denosumab 70 mg/ml), Simponi® (golimumab), and Eylea® (aflibercept), as well as two unnamed potential biosimilars for immunology and oncology.
Despite its effectiveness in treating autoimmune diseases, the high cost of golimumab has limited its accessibility to patients, which has been a major restraining factor for the market. Additionally, the availability of alternative treatments and the emergence of biosimilars have also impacted the growth of the golimumab market.
Golimumab Market Ecosystem
The global golimumab market is analyzed from the following perspectives: indications, distribution channel, and region.
Golimumab Market by Indications
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Based on the indications, the global golimumab market is segmented into rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis.
The rheumatoid arthritis segment dominated the global golimumab market with a high revenue share in 2022. This dominance can be attributed to the high prevalence of rheumatoid arthritis globally and the increasing adoption of golimumab as a preferred treatment option due to its efficacy and safety profile. Moreover, studies have shown that golimumab can effectively reduce symptoms and slow the progression of rheumatoid arthritis.
Golimumab is a biological medication that has been shown to be effective in reducing joint pain and inflammation in patients with psoriatic arthritis. It targets a specific protein in the immune system that contributes to the disease process. Moreover, golimumab has been shown in studies to improve the signs and symptoms of psoriatic arthritis while reducing the progression of joint destruction.
Golimumab in ankylosing spondylitis effectively reduces pain, stiffness, and inflammation. Clinical trials have demonstrated its efficacy in improving physical function and quality of life for patients with this condition.
Golimumab Market by Distribution Channel
The global golimumab market is segmented based on the distribution channel into acute hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment is dominating the golimumab market due to the increasing number of patients suffering from chronic diseases such as rheumatoid arthritis and ulcerative colitis. Moreover, the availability of skilled healthcare professionals in hospital pharmacies who can provide personalized medication and dosage recommendations to patients is driving the growth of this segment.
The online pharmacies segment in the golimumab market is characterized by the increasing number of players entering the market and providing easy access to medications. Moreover, online pharmacies may offer competitive pricing and discounts on medications, including Golimumab, compared to traditional brick-and-mortar pharmacies. This can be appealing to price-sensitive patients or looking for cost-effective medication options.
The retail pharmacies segment is expected to grow in the golimumab market due to the increasing demand for convenient and accessible healthcare services.
Golimumab Market by Region
The global golimumab market is segmented based on the region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the highest revenue share in 2022. The increasing prevalence of autoimmune diseases and the rising demand for biologics are the major factors driving North America's growth of the golimumab market. The availability of advanced healthcare infrastructure and favorable reimbursement policies also contribute to market growth. The presence of top players in the region who are increasingly involved in competitive strategies such as collaborations and partnerships to introduce new and innovative techniques in the golimumab market.
The European golimumab market is characterized by increasing demand for biological drugs and the rising prevalence of autoimmune diseases such as rheumatoid arthritis and psoriatic arthritis. This has led to a rise in patients opting for golimumab as a treatment option, driving the market growth in Europe. Moreover, the rising geriatric population and increasing healthcare expenditure also contribute to the growth of the golimumab market in Europe.
The Asia Pacific golimumab market is expected to grow significantly in the forecast years due to the region's increasing prevalence of autoimmune diseases and the rising adoption of biological therapies for their treatment. Additionally, the growing healthcare expenditure and improving healthcare infrastructure in emerging economies are also expected to contribute to market growth. Furthermore, the presence of key market players in the region and their efforts to develop advanced biologic therapies for autoimmune diseases are likely to drive market growth in Asia.
Golimumab Market Competitive Landscape
The competitive landscape of the golimumab market is highly competitive, with several key players, such as Janssen Biotech, Inc., Merck & Co., Inc., and Pfizer Inc., dominating the market share. The increasing prevalence of autoimmune diseases and rising demand for effective treatment options are expected to intensify the competition in the market further. In addition, the development of biosimilars and the entry of new players in the market are also contributing to the competition, leading to price wars and increased focus on innovation and differentiation strategies among companies. In addition, the development of biosimilars and the expiration of patents for some of the key players in the market are also contributing to the intensifying competition. As a result, companies are focusing on developing innovative products and strategies to maintain their market position.
Some of the prominent companies having the largest revenue share in the global Golimumab Market are,
Golimumab Market Recent Developments
Golimumab is a monoclonal antibody of the tumor necrosis factor (TNF) inhibitor class. It is mostly used to treat autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis.
The golimumab market is expected to grow significantly in the coming years due to the increasing prevalence of autoimmune diseases such as rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. Moreover, the rising adoption of biologics for treating these diseases will likely boost market growth.
Some major strategies key market players adopt in the Golimumab Market include mergers and acquisitions, collaborations, partnerships, and product launches. These strategies help companies to expand their market presence and strengthen their position in the competitive landscape.
Based on the indications, the global golimumab market is segmented into rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. The rheumatoid arthritis segment dominated the global golimumab market with a high revenue share in 2022.
The global golimumab market is expected to register a revenue CAGR of 5.73% during the forecast period of 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain