Etanercept Market Forecast 2023 - 2031

By Drug Type :

The drug type of segmentation is categorized into enbrel, benepali, and others. In 2022, benepali accounted for the highest market share in the etanercept market, and it is also expected to hold the highest CAGR over the forecast period. Benepali is a biosimilar version of etanercept. Biosimilars are highly similar versions of biologic drugs that have been approved for marketing. They are typically less expensive than the original biologic drugs, and they are expected to play an increasingly important role in the etanercept market.

Benepali is more affordable than the original etanercept product, Enbrel. This makes it a more attractive option for patients and payers, especially in emerging markets where the cost of healthcare is a major concern. Significant growth in healthcare expenditure is the primary factor driving the demand for benepali across the globe. For instance, according to the report by General Government Expenditure (GGE) in April 2023, the share of health sector spending has steadily increased from 3.94% to 5.02% between 2014-15 and 2019-2020. Thus, the increasing spending on healthcare and the high benefits of benepali over Enbrel is driving the segment growth across the globe over the forecast period.

By Form :

The form segment is categorized into liquid solution and powder for injections. In 2022, the powder for injections segment accounted for the highest market share in the etanercept market. Powder for injection form of etanercept is more convenient to administer than the liquid solution form. It can be self-injected at home, which eliminates the need for frequent visits to the doctor's office. Furthermore, powder for injection form of etanercept is more cost-effective than the liquid solution form. This is because the powder form can be stored at room temperature, while the liquid form needs to be refrigerated. This can save patients and healthcare providers money on storage costs. Thus, the powder-for-injection form of etanercept is a highly used and in-demand drug due to its ease of administration, cost-effectiveness, flexibility, versatility, and the increasing prevalence of autoimmune diseases.

By Application :

The application segment is categorized into juvenile idiopathic arthritis, rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and others. In 2022, the rheumatoid arthritis segment accounted for the highest market share of 32.50% in the application segment, and it is also expected to hold the highest CAGR over the forecast period. Etanercept is a highly effective treatment for the treatment of rheumatoid arthritis. It is a biologic drug that works by blocking the activity of tumor necrosis factor (TNF)-alpha, a protein that plays a key role in inflammation. Etanercept can help to reduce inflammation, pain, and swelling in patients with RA, and it can also slow the progression of the disease. The growing prevalence of rheumatoid arthritis is further driving the application growth across the globe. For instance, according to the report by the World Health Organization in June 2023, in 2019, 18 million people worldwide were living with rheumatoid arthritis, 13 million people with rheumatoid arthritis experience severity levels (moderate or severe) that could benefit from rehabilitation. Thus, the growing demand for etanercept for the treatment of rheumatoid arthritis is due to its high efficacy, safety, and convenience thus driving the market growth.

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By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 38.30% valued at USD 6,140.45 Million in 2022 and USD 6,310.28 Million in 2023, it is expected to reach USD 8,139.23 Million in 2031. In North America, the U.S. accounted for the highest market share of 62.70% in the base year 2022. The high prevalence of autoimmune diseases across the region is driving the market growth across North America. For instance, the National Institutes for Health (NIH) estimates that autoimmune diseases affect between 5% and 8% of the U.S. population. This is the third most common cause of chronic illness in the United States. Thus, the growing prevalence of autoimmune disease in the North America region is driving demand for etanercept, which is used in a variety of autoimmune disease treatments.

Furthermore, the Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 3.9% during 2023-2031. The significant growth in the pharmaceutical and healthcare industry as well as the growing geriatric population across the region is increasing demand for etanercept. For instance, according to a report by Asia Development Bank, by 2050, one in four people in Asia and the Pacific will be over 60 years old. The population of older persons (aged over 60) in the region will triple between 2010 and 2050, reaching close to 1.3 billion people. Thus, the significant growth in geriatric is expected to create opportunities for growth in the etanercept market over the forecast period.