Etanercept Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2031)

Etanercept Market Dynamics - (DRO) :

Key Drivers :

The increasing prevalence of autoimmune diseases is driving the market

Etanercept is a biologic medication that is used to treat a variety of autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, juvenile idiopathic arthritis, ankylosing spondylitis, plaque psoriasis, and Crohn's disease. Autoimmune disease is a group of conditions in which the body's immune system attacks healthy tissues and organs. There are over 100 different types of autoimmune diseases, and they can affect any part of the body. The medication works by blocking the activity of tumor necrosis factor (TNF)-alpha, a protein that plays a key role in inflammation. Significant development in autoimmune diseases is driving the market growth. For instance, according to the report by Global Autoimmune Institute in August 2022, Autoimmune diseases are increasing internationally, and the global cases of autoimmune cases are rising by 3–9% a year. In the United States, the number of people with at least one autoimmune disease is closer to 8%. Thus, the growing prevalence of autoimmune disease is driving the demand of this medication for the treatment of such types of diseases.

Growing government initiatives to increase awareness about arthritis

Etanercept has a wide range of applications in treating severe autoimmune diseases such as rheumatoid arthritis and psoriatic arthritis. It binds with tumor necrosis factor alpha receptor and is used under the brand name Embrel in the market. As per the analysis, with the rising cases of various arthritis across the regions, government authorities initiate awareness campaigns and programs to educate the population about the severities caused by these disorders. For instance, as of 13th June 2023, CDC's Arthritis Management and Wellbeing Program has initiated evidence-based public awareness campaigns to promote physical activity and self-management education as useful approaches to managing arthritis. This campaign aims to promote physical activity to Spanish-speaking Americans with arthritis between the ages of 45–64, with an annual income of USD 35,000 or less. With the growing knowledge and awareness among people about applications of this medication in arthritis, the market is anticipated to grow at a substantiate rate. Thus, the increasing awareness about arthritis is propelling the market trends

Key Restraints :

Side effects associated with utilization of etanercept

Etanercept is a highly effective biologic drug used to treat a variety of autoimmune diseases. However, it is associated with several side effects, some of which can be serious. These side effects can deter patients from taking this medication or cause them to stop taking it altogether, which can restrain the market. As per the analysis, the injections decrease the tolerance level of the individual to take more injections and increase the susceptibility to get infected easily by several viral, bacterial, and fungal infections that spread throughout the entire body. Such infections, if not treated properly, may lead to fatalities. Other severe common conditions developed through injections include problems like headache, nausea, and weakness in the body. Hence, it is firmly advised to take injections containing this medication in hospitals to avoid any unfortunate circumstances. Even a little fluctuation in the amount of dosage leads to unwanted side effects and presents a severe threat to the patient. Thus, it is evident that the severe side effects associated with the use of this medication create valid fright among the users and motivate them to look for other alternatives. Consequently, the market experiences a slowdown in operational activities, and the trends of the market is impeded. As a result, the toxicity of this medication to the environment and human health is hampering market.

Future Opportunities :

Increasing development of biosimilar etanercept products

The increasing development of biosimilars is creating lucrative opportunities and trends in the upcoming years. 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 in the forecast years. As per the analysis, biosimilar products are expected to increase access to this treatment for patients in developed and emerging markets. Furthermore, biosimilars are expected to drive down the cost of this treatment. Increasing launches of new biosimilar products are expected to drive market trends.

For instance, in August 2020, Lupin and Mylan launched Nepexto biosimilar etanercept, in the German market. Nepexto is a biosimilar to Enbrel, a leading treatment for autoimmune diseases. Nepexto is approved for all therapeutic indications of Enbrel, including moderate to severe rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, axial spondylarthritis, and plaque psoriasis. The launch of Nepexto in Germany is expected to increase access to affordable and effective treatment for patients with autoimmune diseases. Overall, the increasing development of biosimilar versions of this products is expected to positively drive the global etanercept market trend over the forecast period.

Top Key Players & Market Share Insights :

The global etanercept market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The etanercept industry is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market revenue through mergers, acquisitions, and partnerships. The key players in the market include-