Pune, India, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The global etanercept market size was valued at USD 15.32 Billion in 2021 and is expected to grow at a CAGR of 3.2% during the forecast period, according to a recent market study by Quince Market Insights. Etanercept is commonly known as Enbrel, basically a protein drug, that blocks and fixes the action of tumor necrosis factor and that is managed by injection to treat various inflammatory diseases like arthritis, ankylosing spondylitis, and rheumatoid arthritis.
Increasing investments in healthcare expenditures, rapid economic development and growing lifestyle diseases such as hypertension, obesity, and others are driving the growth of global etanercept market.
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Further, lack of robust reimbursement policies and systems will restrain the etanercept market in further growth during the coming projected period. Also, the big investments and partnerships in healthcare sectors for the development during the recent years will further open various opportunities for the key market players of etanercept.
Sometimes, high out-of-pocket payments (OOPs) for medicines expenses also including co-payments, lower medical consumptions, and also creates a risk of lower treatment adherence are challenging the etanercept market in further growth.
Impact of COVID-19 on Global Etanercept Market
The incidence of Covid-19 has seriously impacted various end use industries in a negative way, and etanercept market is also comes along with them. The Covid-19 pandemic has shut down every organization’s operating cycle and turned their revenues into huge loss.
During the pandemic, the government has circulated strict global lockdown across the world to stop the spread of infectious virus. Hence, people were not allowed to come out from their shelter which has resulted in slow demand rate for etanercept treatment in the market.
However, with the openings of industries and clinics slowly are going to increase the demands for etanercept treatments during the coming projected period as well as increase the revenue structure along with it.
Global Etanercept Market, by Application
Based on application, the etanercept market is segmented into ankylosing spondylitis, rheumatoid arthritis, psoriatic arthritis, juvenile idiopathic arthritis (JIA), and others. Rheumatoid arthritis holds the largest market share in 2021 and is expected to hold its largest position during the forecast period.
Factors contributing the growth of the segment is because of increasing prevalence of arthritis, occurrence of biosimilars & biologics, and related diseases among geriatric population are driving the etanercept market growth.
Global Etanercept Market, by Product
Based on product, the etanercept market is segmented into enbrel, benepali, and others. Benepali holds the largest market share in 2021 and is expected to remain largest market during the coming forecast period.
Factors responsible for the growth of the segment is because it is highly effective at reducing symptoms of rheumatoid arthritis, also it is found to have better efficiencies and quicker actions and these advantages are driving the etanercept market growth.
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Global Etanercept Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is dominating the etanercept market in 2021 and is anticipated to remain dominant during the forecast period also.
Factors attributing the growth of the region is because of accessibility of modern treatment options, acceptance of advanced technology, and technically advanced healthcare systems are boosting the North American market.
Recent Developments in the Global Etanercept Market
- March 2021 – Lupin, a Mumbai-based drugmaker has received approval from the Narendra Modi government’s expert panel to test a biological drug, Etanercept for the treatment of Covid-19.
- December 2019 – Clover Biopharmaceuticals has declared the first patient was dosed in a Phase III trial of SCB-808, a biosimilar Enbrel®, being developed for the treatment of rheumatic diseases in prefilled syringe, including rheumatoid arthritis and ankylosing spondylitis.
Some Key Findings of the Global Etanercept Market Report Include:
- The analysis includes a global etanercept market study, expansions, and forecasts, along with a country-specific analysis.
- An in-depth analysis of the global etanercept market comprises segment application, product, and regions with an analysis of trend-based insights and factors.
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global etanercept market.
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
- The research also helps understand the dynamics of the etanercept market structure by analyzing market segments and by projecting the size of the market.
- The report helps to understand the effects of COVID-19 pandemic on etanercept market.
- Some major industry players functional in the global etanercept market are: Immunex Corporation, Pfizer, Inc., GlaxoSmithKline Pharmaceuticals Ltd., Samsung Bioepis Co., Cipla Limited, Novartis International AG, Celltrion, Takeda Pharmaceutical Company Ltd., and F. Hoffmann-La Roche Ltd.
For more information on this topic please visit our website report titled, “Etanercept Market, by Application (Ankylosing Spondylitis, Rheumatoid Arthritis, Psoriatic Arthritis, Juvenile Idiopathic Arthritis {JIA}, and Others), Product (Enbrel, Benepali, and Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” — in-depth analysis along with the table of contents (ToC).
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