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Published Date: 2016-01-28Number of Pages: 61

LATAM Adalimumab Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023

The impending patent expiration has resulted in the sluggish growth rate of the adalimumab market in Latin America. The entry of biosimilars has further aggravated the market’s concerns. Transparency Market Research (TMR) pegs the valuation of the Latin America adalimumab market at US$994.8 mn in 2014. Expanding at a weak CAGR of 0.4% from 2015 to 2023, the market is forecast to reach US$1,186.4 mn by the end of 2023.

Despite its sluggish growth rate, the adalimumab market in Latin America will gain from the favorable government regulations in the region. Latin America also possesses an impressive pool of experienced research professionals, as leading companies operating in the market have been engaged in extensive researches on biologics. This translated into higher investment in the development of biologic drugs by both international and local players. Since Brazil is preferred by a majority of global players in the pharma industry for expanding their operations in Latin America, the country will continue exhibiting favorable prospects for the growth of the adalimumab market.

However, the high cost of clinical trials and research and development is the key challenge witnessed by companies operating in the market. Irrespective of the high R&D expenditures, manufacturers are required to maintain a low price of their products, which further limits opportunities for growth of the adalimumab market in Latin America. Absence of reimbursement for biologic drug therapy also adversely impacts the market.

Nevertheless, with multinational companies proactively investing to capitalize on the untapped opportunities in Latin America and Asia Pacific, some opportunities for the market’s growth in the near future still exist.

Brazil Emerges as Most Lucrative Market for Adalimumab in Latin America

Brazil, Mexico, and Argentina make the most lucrative countries for sale of adalimumab in Latin America. Among these countries, Brazil has emerged as the leading market because it has in place established regulatory policies for biologic drugs. Moreover, an increasing preference for biologic drugs has been noticed among the patients of this country as well, which puts Brazil at the fore of the adalimumab market in Latin America. As per TMR, the Brazil adalimumab market is poised to surge at a CAGR of 1.2% between 2015 and 2023. The market stood at US$276.7 mn in 2014 and is expected to reach US$352.8 mn in 2023.

However, other countries such as Columbia, Peru, Venezuela, and Chile represent the middle or low income group among LATAM nations. Absence of established biosimilar regulatory policies in these countries, inadequate government support, and lack of native production facilities limits adoption of biologic drugs across these nations. Despite all odds, the LATAM adalimumab market is forecast to grow at a slow yet steady pace. The entry of adalimumab post patent expirations of blockbuster drugs would renew opportunities for leading enterprises in the market.

Increasing Incidence of Rheumatoid Arthritis to Boost Adalimumab Sales in Latin America

The most common applications of adalimumab include psoriasis, rheumatoid arthritis, ulcerative colitis, Crohn’s disease, and others. Of these, the application of adalimumab in rheumatoid arthritis contributed US$328.7 mn to the LATAM adalimumab market in 2015. The use of adalimumab has increased in response to the high incidence of rheumatoid arthritis. The medicine is used to reduce the signs of moderate to severe rheumatoid in adults. The rheumatoid arthritis segment is expected to continue holding the leading share in the market through the report’s forecast period. The rising incidence of psoriasis, combined with the increasing healthcare expenditure in Latin America, will also boost sales of adalimumab in the region.

Some of the leading enterprises operating in the LATAM adalimumab market include Pfizer, Inc., AbbVie, Inc. Amgen, Inc., and Novartis among others.

1. Preface

2. Executive Summary
    2.1. LATAM Adalimumab: Market Snapshot
    2.2. Comparative Analysis: LATAM Adalimumab Market, by Country, 2014 & 2023 (Value %)
    2.3. LATAM Adalimumab Market Revenue, by Application, 2014 (US$ Mn)

3. Industry Analysis: LATAM Adalimumab Market
    3.1. Introduction
    3.2. Market Drivers
          3.2.1.  Driver 1: Favorable Local Regulations
          3.2.2.  Driver 2: Expertise in Biologic Product Research To Support Local And Foreign Investments
    3.3. Market Restraints
          3.3.1. Restraint 1: High Cost of R&D and Clinical trials
          3.3.2. Restraint 2: Lack of reimbursement for biosimilars resulting in high out-of-pocket costs 
    3.4. Market Opportunities
3.4.1. Opportunity 1: LATAM, an attractive base for the biosimilar developers for their product expansion
    3.5. Market Attractiveness Analysis– LATAM Adalimumab Market, by Country (2014) (value %) 
    3.6. Pipeline Analysis: LATAM Adalimumab Market

4. LATAM Adalimumab Market Segmentation – by Application
    4.1. Introduction
    4.2. LATAM Adalimumab Market Revenue, by Application 2013–2023 (US$ Mn)
    4.3. LATAM Adalimumab Market Revenue for Rheumatoid Arthritis, 2013–2023, (US$ Mn)
    4.4. LATAM Adalimumab Market Revenue for Psoriasis, 2013–2023, (US$ Mn)
    4.5. LATAM Adalimumab Market Revenue for Crohn’s Disease, 2013–2023, (US$ Mn)
    4.6. LATAM Adalimumab Market Revenue for Ulcerative Colitis, 2013–2023, (US$ Mn)
    4.7. LATAM Adalimumab Market Revenue for Others, 2013–2023, (US$ Mn)

5. LATAM Adalimumab Market Segmentation – by Country
    5.1. Introduction    
    5.2. LATAM Adalimumab Market Revenue, by Country, 2013–2023 (US$ Mn)
    5.3. Brazil Adalimumab Market Revenue, 2013–2023 (US$ Mn)
    5.4. Mexico Adalimumab Market Revenue, 2013–2023 (US$ Mn)
    5.5. Argentina Adalimumab Market Revenue, 2013-2023 (US$ Mn)
    5.6. Colombia Adalimumab Market Revenue, 2013–2023 (US$ Mn)
    5.7. Rest of LATAM Adalimumab Market Revenue, 2013-2023 (US$ Mn)

6. Recommendations

7. Company Profiles
    7.1. AbbVie, Inc. 
    7.2. Amgen, Inc.
    7.3. Boehringer Ingelheim GmbH
    7.4. Eisai Co., Ltd.
    7.5. Mylan N.V.
    7.6. Novartis AG
    7.7. Pfizer, Inc.

This report on LATAM Adalimumab market analyzes the current and future prospects of the adalimumab sales pertaining to Latin American countries. The stakeholders of this report include companies engaged in production and commercialization of adalimumab biosimilars across the globe. This report encompasses an elaborate executive summary, with a market snapshot that provides overall information of major market segments and sub-segments included in the study scope. This section also provides the overall information and data analysis of the LATAM Adalimumab market with respect to the leading market segments based on, application and major Latin American countries. 

The LATAM Adalimumab market has been segmented on the basis of application, and Latin American countries. The application segment has been further segmented into rheumatoid arthritis, psoriasis, Crohn’s disease, ulcerative colitis and others. The LATAM adalimumab country segment has been further categorized into Brazil, Mexico, Argentina, Colombia and Rest of LATAM. The market for each of these segment has been analyzed on the basis of adalimumab prescription for various disorders and regulatory scenario with respect to biologic drugs in respective countries. Market revenue in terms of US$ Mn for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year. 

The market overview section of this report explores market dynamics such as drivers, restraints, and opportunities that have predominant impact on the LATAM adalimumab market presently and could influence the market in future as well. The market attractiveness analysis has been provided in the market overview section in order to elucidate the intensity of competition in the market in different LATAM countries. Furthermore, pipeline analysis of the adalimumab biosimilar molecules in Phase III stage have been provided in market overview section. The market estimations for pipeline molecules are provided assuming the positive entry of these molecules in the market which will have an impact on the sustainability of the companies operating in this market. All these factors would help the market players to take strategic decisions in order to strengthen their positions and expand their shares in the LATAM market. 

The LATAM adalimumab analysis with respect to major LATAM countries provides the landscape for the production and marketing of adalimumab biosimilars with the introduction of favorable reimbursement policies, research expertise which paves a path for the local and foreign investments in these countries. The report also profiles major players in the adalimumab market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Some of the major players profiled in this report include AbbVie, Inc., Amgen, Inc., Mylan N.V., Novartis AG, Pfizer, Inc. and others. 

The LATAM Adalimumab market is segmented into the following categories:

  • LATAM Adalimumab Market, by Application
    • Rheumatoid Arthritis
    • Psoriasis
    • Crohn’s Disease
    • Ulcerative Colitis
    • Others
  • LATAM Adalimumab Market, by Country
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Rest of LATAM

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