Global Lupus Therapeutics Market Projected To Grow At A CAGR Of 6.2 % By 2028
A new research report published by Fior Markets with the title Lupus Therapeutics Market by Drug Classes (Immunosuppressants, Corticosteroids, NSAIDs, Antimalarials, Biologics), Route of Administration (Subcutaneous, Oral, Intravenous), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028
The global lupus therapeutics market is expected to grow from USD 1.87 billion in 2020 to USD 3.62 billion by 2028, at a CAGR of 6.2% during the forecast period 2021-2028. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is owing to factors like advancing medical science, increasing population growth, and rising income. Emerging economies like India, Brazil, and China are especially lucrative, considering their growth potential. On the other hand, the North America region accounted for the major market share of 45.92% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as developed healthcare infrastructure, the higher number of SLE cases, easy availability of specialty drugs, better accessibility to biologics, good reimbursement scenario, developments in diagnostics procedure, and recent & near future approval of new drugs. Following North America, Europe held the second-largest regional market share in 2020 owing to the greater adoption of belimumab, supportive coverage policies, and multiple European countries such as Spain, Germany, U.K., France, and Italy giving approval to Benlysta for active SLE treatment.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global lupus therapeutics market are Hikma Pharmaceuticals Plc, Dr. Reddy’s Laboratories Ltd, GlaxoSmithKline, Novartis AG, Sanofi, ImmuPharma, Bayer, Aurinia Pharmaceuticals, Pfizer Inc, Astra Zeneca, MedImmune, F.Hoffmann-La Roche, Bristol Myers Squibb Company, Teva Pharmaceutical Industries Ltd, Boehringer Ingelheim International Gmbh, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global lupus therapeutics market.
Based on drug classes, the global market has been divided into immunosuppressants, corticosteroids, NSAIDs, antimalarials, and biologics. The biologics segment is leading the market and is forecasted to grow at the highest CAGR of 7.2% over the projected timeframe. The launch of novel biologics like Benlysta & Rituximab with higher efficacy is expected to boost the segment growth. Benlysta is used for moderate SLE (Systemic Lupus Erythematosus); however, its safety and efficacy are still doubtful for severe Lupus. Rituximab, on the other hand, has shown not to carry any side effects like immunosuppressants & corticosteroids do. On the basis of route of administration, the lupus therapeutics market has been segmented into subcutaneous, oral, and intravenous. The subcutaneous segment is anticipated to grow at the highest CAGR of 6.9% over the projected period owing to its self-administration capabilities and its (Rituximab) approval in many European countries and & the United States.
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- CDN Newswire