by Lupus therapeutics encompass immunosuppressive, immunomodulatory and corticosteroid drugs used for the treatment of systemic lupus erythematosus (SLE). These therapeutics help to reduce disease symptoms, inhibit progression of organ damage and minimize complications.
The global Lupus Therapeutic Market is estimated to be valued at US$ 3035.59 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing research and development efforts by pharmaceutical companies is one of the major trends being witnessed in the lupus therapeutics market. Lupus is a complex disease with an unclear etiology. Despite recent advances in therapy, complete remission has yet to be achieved in most patients. There remains a critical need for safer and more effective treatment options. Pharmaceutical companies are investing heavily in developing novel molecules for improved treatment of SLE. A number of potential drugs are in various stages of clinical trials. Successful approval and commercialization of these drugs can significantly influence the market dynamics over the forecast period.
SWOT Analysis
Strength: The global lupus therapeutic market has been witnessing significant research and development activities for developing novel biologics and targeted small molecule therapies for lupus. Advancements in biologics and targeted therapies provide effective treatment options with improved safety profiles.
Weakness: High costs associated with biologics and targeted therapies limits their widespread adoption. Extended treatment durations also increase the overall costs of therapy.
Opportunity: Rising healthcare expenditure in emerging economies is expected to boost the adoption of premium-priced biologics and targeted therapies. Growing awareness about early diagnosis and management of lupus also provides growth opportunities.
Threats: Patent expiries of blockbuster drugs result in lower market revenues owing to the availability of generic versions. Stringent regulations for the approval of novel drugs also increase the development risks and costs.
Key Takeaways
Global Lupus Therapeutic Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The global Lupus Therapeutic Market is estimated to be valued at US$ 3035.59 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
North America dominates the global lupus therapeutic market and is expected to continue its dominance over the forecast period. This is attributed to the higher adoption of novel biologics and targeted small molecule therapies owing to greater awareness, better access to healthcare facilities, and superior reimbursement structure in the region.
Key players operating in the lupus therapeutic market are GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Pfizer Inc., AstraZeneca, Bristol-Myers Squibb Company, Anthera Pharmaceuticals Inc., ImmuPharma PLC. Key players are focusing on research and development activities to introduce novel targeted therapies with improved safety and efficacy for better treatment outcomes in patients with lupus.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
