Understanding Actemra Drug Market Impact on the Biopharmaceutical Market
Understanding Actemra Drug Market Impact on the Biopharmaceutical Market
Blog Article
The actemra drug market is experiencing high demand owing to the increasing prevalence of rheumatoid arthritis in the geriatric population. Actemra, also known as tocilizumab, is a prescription medication used to treat rheumatoid arthritis, giant cell arteritis, and cytokine release syndrome.
The Actemra Drug Market belongs to a class of medications called interleukin-6 (IL-6) receptor antagonists that work by blocking the action of a protein called interleukin-6 (IL-6), which is involved in the inflammatory and immune responses.
The Actemra drug market is estimated to be valued at USD 3.796 Bn in 2024 and is expected to reach USD 6.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Key Takeaways
Key players operating in the actemra drug market are Roche, copyright, Novartis, and Johnson & Johnson. Roche is one of the prominent players and holds the majority market share with its blockbuster RA drug Actemra.
Growing demand:
The rising geriatric population is one of the major factors fueling the growth of the global actemra drug market. As people age, they become more prone to develop rheumatoid arthritis. According to estimates, around 30% of the population aged 65 and older suffer from some form of arthritis.
Technological advancement:
Leading manufacturers are focusing on developing novel drug delivery systems and targeting new therapeutic applications of actemra to stay ahead in the competition. For instance, subcutaneous injection and pre-filled syringes have been introduced to improve treatment convenience.
Market Trends
Increased adoption of biosimilars: Growing preference towards affordable biosimilar drugs is resulting in the erosion of branded actemra drug sales. However, biosimilars are expected to expand the patient pool.
Focus on new indications: Companies are conducting clinical trials to evaluate the efficacy of actemra in other inflammatory diseases such as systemic juvenile idiopathic arthritis and cytokine release syndrome associated with CAR T-cell therapy.
Market Opportunities
Expansion into untapped markets: There exists immense opportunities for market players in developing regions such as Asia Pacific and Latin America owing to the large patient population and growing healthcare infrastructure.
Combination therapies: The market is likely to witness increased adoption of actemra in combination with other targeted drugs for achieving better treatment outcomes in rheumatoid arthritis patients.
Impact of COVID-19 on Actemra Drug Market Growth
The Actemra drug market has witnessed significant impact due to the COVID-19 pandemic. During the initial outbreak, there was a spike in the demand for Actemra drug as it was identified as a potential treatment option for cytokine storm conditions associated with severe COVID-19. However, supply chain disruptions led to shortages and major delays in fulfilling the surging demand. Manufacturers ramped up production capacity to address this.
As the pandemic progressed, multiple clinical trials were conducted to evaluate Actemra's efficacy against COVID-19. While some trials showed positive results, others did not find conclusive evidence. However, Actemra continued to be used off-label as an experimental treatment. Post-pandemic, the demand is expected to stabilize although concerns around COVID-19 complications are likely to ensure steady growth prospects. Manufacturers will focus on expanding access through capacity expansions and strategic partnerships to ensure continuity of supplies.
Geographical Regions with Highest Actemra Drug Market Value
North America accounts for the largest share of the global Actemra drug market in terms of value. This can be primarily attributed to the growing prevalence of rheumatoid arthritis and other autoimmune disorders in the region coupled with rising healthcare expenditures and strong reimbursement policies. The strong presence of leading Actemra drug manufacturers has further supported market growth.
Europe follows next, driven by supportive government initiatives to ensure access to advanced biologic treatment options. Asia Pacific is identified as the fastest emerging market and is expected to offer lucrative opportunities over the forecast period owing to the improving access to healthcare facilities and increasing focus of pharmaceutical companies on strengthening regional drug supplies.
Fastest Growing Regional Market for Actemra Drug
The Asia Pacific Actemra drug market is poised to register the highest growth during the forecast years. This is because of the rising geriatric population, growing awareness regarding orphan drugs and autoimmune disorders, and increasing per capita healthcare expenditure in major Asian economies such as China, India, Japan and South Korea. Local governments as well as biopharma giants are proactively working towards enhancing biologics production, service delivery models and insurance coverage, which will drive stronger Actemra adoption across Asia Pacific over the coming years.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)