In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSOn August 16, 2019, AbbVie received approval from the U.S. Food and Drug Administration (FDA) of RINVOQTM (upadacitinib) for the treatment of moderate to severe rheumatoid arthritis. This drug is a 15 mg, once-daily use oral Janus kinase (JAK) inhibitor.
Autoimmune disease is a condition in which the immune system is unable to recognize the body’s own cells and starts attacking them. The immune system might attack different types of body cells, depending on which the autoimmune disease is classified. This disease might result in degradation as well as improper functioning of body organs.
Autoimmune disease can be either localized or systemic. The immune system acts on a particular part of the body in case of localized autoimmune disease, such as thyroiditis and juvenile diabetes. On the other hand, in case of a systemic autoimmune disease, the immune system targets cells of the entire body which can be observed, for instance, in disease such as rheumatoid arthritis and lupus. Autoimmune disease is chronic in nature and there is no permanent cure available. However, the immune system action can be prevented to some extent in order to substantially reduce and inhibit its functioning.
The autoimmune disease drugs market is anticipated to record a CAGR of around 5% over the forecast period, i.e., 2020-2028. The market is segmented by drug, by disease, by distribution channel and by region. Based on disease, the market is segmented into rheumatoid arthritis, type 1 diabetes, multiple sclerosis, psoriasis, lupus, inflammatory bowel disease and others. The high prevalence of rheumatoid arthritis globally can be attributed to the significantly high share of this segment in the market over the next few years. On the basis of drugs, the market is segmented into NSAIDs, anti-inflammatory, interferons, antihyperglycemics and others, out of which, the anti-inflammatory segment is anticipated to hold the largest share in the autoimmune disease drugs market on account of their application in large number of indications such as rheumatoid arthritis, juvenile idiopathic arthritis, gout, psoriasis, ankylosing spondylitis and others. XELJANZ, a drug for oral use manufactured by Pfizer and approved by the U.S. FDA in 2012, aimed at treating both rheumatoid arthritis and psoriatic arthritis among adult patients having an inadequate response to methotrexate. CLICK TO DOWNLOAD SAMPLE REPORT
Recently, a few autoimmune disease drugs have received approvals for sale in the market. For instance, RITUXIN is a drug manufactured by Genentech, which received FDA approval for the treatment of rheumatoid arthritis. Various other drugs are still in the clinical trials stage and observing positive results. This is anticipated to become a major factor for the growth of autoimmune disease drugs market over the forecast period. The increasing research and development in the area of autoimmune disease is predicted to lead to more drug approvals in future.
Growing prevalence of various autoimmune diseases poses a high risk to individuals, especially the elderly population. Rheumatoid arthritis is an autoimmune disease in which the immune system attacks the joints in the body, commonly those in hands, knees and wrists. This causes inflammation in the affected body part and inhibits normal body functioning. According to Centers for Disease Prevention and Control, around 22.7% or 54.4 million adults in America had doctor-diagnosed arthritis as per the National Health Interview Survey 2013-3015, with a higher prevalence in women (23.5%) than in men (18.1%). The growing demand for reducing the effects of this disorder is anticipated to result in growth of the market.
The high cost of treatment for autoimmune disease coupled with availability of alternate treatment methods in the market are some major factors estimated to hinder the growth of autoimmune disease market over the forecast period.
Our in-depth analysis of the autoimmune disease drugs market includes the following segments:
On the basis of regional analysis, the autoimmune disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market is predicted to observe lucrative growth opportunities in North America as a result of rising research and development activities focused on finding a treatment for autoimmune disease. Moreover, the increasing investment in the healthcare sector in the region is another factor estimated to result in the market growth in the coming years. The highest growth rate of autoimmune disease drugs market is anticipated to be observed in the Asia Pacific region on account of significantly improving healthcare infrastructure and development of better treatment facilities. The growing awareness among people about autoimmune disease further raises the demand for the drugs in the region which is another growth driving factor for the autoimmune disease drugs market over the forecast period.
The autoimmune disease drugs market is further classified on the basis of region as follows:
FREQUENTLY ASKED QUESTIONS
Improvements in government regulations for drug approval procedures that result in higher number of drugs in the market is a major factor that is driving the growth of the market.
The market is anticipated to attain a CAGR of 5% over the forecast period, i.e. 2020-2028.
Significantly improving healthcare infrastructure and development of better treatment facilities in Asia Pacific region are anticipated to provide more business opportunities for the growth of the market in the future.
The major players in the market are Abbott Laboratories, Pfizer, AbbVie, Eli Lilly, Bristol-Myers Squibb, AstraZeneca plc, GlaxoSmithKline, F. Hoffmann-La Roche Ltd., Biogen and Amgen.
Company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions | LOB
Copyright © 2022 Research Nester. All Rights Reserved
