Global Sarcoidosis Therapeutics Market 2019-2023 | Rising Awareness about Sarcoidosis to Boost Demand | Technavio
Technavio analysts forecast the global sarcoidosis therapeutics market to have an incremental growth of $46 million during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio forecasts the global sarcoidosis therapeutics market to have an incremental growth of USD 46 million by 2023. (Graphic: Business Wire)
Strategic alliances are one of the major trends being witnessed in the global sarcoidosis therapeutics market 2019-2023. Pharmaceutical companies are working together for the development of medications for the therapeutics of sarcoidosis. These alliances will enhance the R&D activities of new drugs for the management of sarcoidosis and will help companies to develop drugs to treat it, which can be introduced quickly into the market. Thus, such strategic alliances are expected to support the global sarcoidosis therapeutics market growth during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global sarcoidosis therapeutics market is the rising awareness about sarcoidosis:
Global sarcoidosis therapeutics market: Rising awareness about sarcoidosis
Sarcoidosis is a rare condition that causes small granulomas in the various organs of the body. It usually affects the lungs and skin. The etiology of the disease is not yet known which makes the awareness about sarcoidosis very important. The increase in the number of organizations and institutes that creates awareness about sarcoidosis among people is rising and is expected to propel the growth of the global sarcoidosis therapeutics market during the forecast period.
According to a senior analyst at Technavio, “The Sarcoidosis Network Foundation is promoting education and awareness about sarcoidosis and supporting the research to find the cure and prevention of the disease for improving the quality of life in patients affected by sarcoidosis in the US. Similarly, British Lung Foundation (BLF) in the UK and Sarcoidosis Lyme Australia in Australia are rising awareness about the early diagnosis and therapeutics of sarcoidosis.”
Global sarcoidosis therapeutics market: Segmentation analysis
The global sarcoidosis therapeutics market research report provides market segmentation by product (Corticosteroids and other therapeutics) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 42% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the rising awareness about sarcoidosis and special regulatory designations.
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