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 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Lupus Therapeutic include drugs used for treating autoimmune inflammatory disease called systemic lupus erythematosus. Major drugs classes used include corticosteroids, non-steroidal anti-inflammatory drugs, immunosuppressants, antimalarial drugs which help reduce disease symptoms and prevent organ damage.
Market key trends:
One of the key trends in the market is the increasing demand of personalized medicine. Growing focus on precision medicine is contributing significantly to the development of novel therapies for lupus treatment. Personalized medicine aims to provide customized medical treatment catering to an individual patient’s characteristics, such as genetics, tumor biomarkers, lifestyle and environmental factors for improved outcomes. This is expected to drive the market growth of novel drugs over the forecast period.
SWOT Analysis
Strength: The growing incidences of various autoimmune disorders like SLE has been increasing the demand for effective treatment options. Advancements in research has led to newer mechanism-based targeted therapies.
Weakness: High costs associated with R&D of novel drugs. Stringent regulatory processes delay drug approvals.
Opportunity: Increasing healthcare expenditures in emerging nations provide growth opportunities. Collaborations between players can help in fast-tracking drug development.
Threats: Patent expiries of major drugs resulting in higher competition. Side effects associated with long-term medications can act as a constraint.
Key Takeaways
The Global Lupus Therapeutics Market Size is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing incidence of autoimmune disorders and growing healthcare spending.
Regional analysis
North America dominated the market with over 40% share in 2023 owing to the presence of major players and availability of advanced treatment options in the region. Asia Pacific is anticipated to be the fastest growing region during the forecast period due to rising patient pool and improving healthcare infrastructure.
Key players operating in the lupus therapeutic market are Hikma Pharmaceuticals PLC, Lupus Therapeutics, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc, Amgen Inc., Novartis AG, Sanofi, UCB S.A., ImmuPharma PLC, Bayer AG, Merck & Co., Inc., Aurinia Pharmaceuticals Inc., Pfizer Inc., ADMA Biologics, Inc., AstraZeneca, F.Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, and Boehringer Ingelheim International Gmbh.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
