At 12.9% CAGR, Global Autoimmune Disease Therapeutics Market Size & Share to Surpass USD 113.48 Billion by 2028 | Industry Trends, Demand, Price, Analysis & Forecast Report by Zion Market Research
NEW YORK, July 26, 2022 /PRNewswire/ -- As per Zion Market Research study, The global autoimmune disease therapeutics market was worth around USD 54.8 billion in 2021 and is estimated to grow to about USD 113.48 billion by 2028, with a compound annual growth rate (CAGR) of approximately 12.9% over the forecast period.
Autoimmune Disease Therapeutics Market: Overview
Autoimmune illnesses are brought on by an autoimmune reaction that targets cells and destroys body tissue. Autoimmune disorders are nearly incurable and without a permanent cure. There are about 80 autoimmune disorders around the globe with unidentified causes. Over 300 million people worldwide have this condition, and between 70 and 80% of those sufferers are female. The two main drivers driving the market's expansion are the increased prevalence of autoimmune illnesses and the expanding understanding of these conditions. Over the projected period, the market development for autoimmune disease therapeutics is expected to be further bolstered by the expansion of autoimmune disease research and the rise in autoimmune disease therapeutic usage. Furthermore, technological developments in screening processes, widespread availability of therapeutics, and the significant presence of pipeline medications such as secukinumab, tocilizumab, certolizumab, tofacitinib, etanercept, and others are projected to have a positive impact on the market growth. The critical barriers to the worldwide autoimmune disease therapeutics market, however, include the lack of funding for developing nations, the high cost of treating the disease, the lack of availability of the medication in developing countries, and the development of substitute technologies. A stringent regulatory process and increasing treatment side effects are further factors that are expected to limit market expansion.
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Key Industry Insights & Findings of the Autoimmune Disease Therapeutics Market Reports:
- As per the analysis shared by our research analyst, the Autoimmune Disease Therapeutics Market is expected to grow annually at a CAGR of around 12.9 % (2022-2028).
- Through the primary research, it was established that the Autoimmune Disease Therapeutics Market was valued at approximately USD 54.8 Billion in 2021 and is projected to reach roughly USD 113.48 Billion by 2028.
- North America dominates the global autoimmune disease therapeutics market and accounted for more than 42.4% of the worldwide revenue in 2021.
- In North America region is expanding due to rising healthcare spending, improved healthcare infrastructure, increased use of new technology, and the presence of significant vital players.
- The cost of treating autoimmune diseases is estimated to reach USD 100 billion annually in the United States, according to National Institute of Health estimates.
- The rising incidence of autoimmune diseases, expanding government efforts to upgrade the healthcare system, and increased adoption of cutting-edge technologies like portable diagnostic tools and novel biomarkers will all contribute to the expansion of the European market.
Zion Market Research published the latest report titled 'Autoimmune Disease Therapeutics Market by Drug Class (Immunosuppressants, Anti-Inflammatory Drugs, Corticosteroids, Nonsteroidal Anti-Inflammatory Drugs, and Biologics), By Distribution Channel (Hospitals, Clinics, Drug Stores, and Independent Pharmacies), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.' into their research database.
Industry Dynamics:
Autoimmune Disease Therapeutics Market: Growth Drivers
- The growing prevalence of several autoimmune disorders drives the global market growth.
Factors contributing to the global autoimmune disease therapy market's growth include rising autoimmune disease prevalence, more patient awareness, and increased laboratory automation, which allows for the simultaneous diagnosis of several diagnostic tests, resulting in faster and more accurate findings thereby increasing patient awareness of such disorders fuels market expansion. Autoimmune illness targets healthy tissues, cells, and organs. It can affect any body area, weakening body function and threatening life. These illnesses sometimes need lifetime treatment to control symptoms because there is no known cure. Compared to men, women develop autoimmune diseases significantly more quickly. The condition is estimated to be one of the top ten causes of death among women under 65 and the second leading cause of chronic illness. Additionally, in the U.S., it is the leading cause of morbidity for women. There are currently over 80 clinically distinct types of autoimmune disorders. As a result, the autoimmune disease treatments market will expand throughout the forecast period.
Autoimmune Disease Therapeutics Market: Restraints
- Lack of funding and high costs associated with treating the diseases may hamper the global market growth.
The key factors holding back the worldwide market for autoimmune disease therapies include insufficient funding in developing nations, the high cost of treating the condition, the lack of medication availability in developing countries, and the development of alternative technologies. The lack of understanding and awareness of autoimmune illnesses and their symptoms in poor & distant places would reduce their utilization in undeveloped and lower-income nations.
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Autoimmune Disease Therapeutics Market: Opportunities
- Improvements in healthcare infrastructure and technology bring up several growth opportunities.
Technology advancements such as the creation of novel biomarkers like Humira and Enbrel, compact diagnostic point-of-care devices, and growing preference for laboratory robotics are predicted to fuel growth throughout the forecast period. There is a surge in the sector due to constantly improving healthcare infrastructure and rising healthcare spending. Adopting sophisticated technology for improved treatment may pique more people's attention in applying for the medicine. The market value for treatments for autoimmune diseases might rise with higher adoption rates. Increased government spending on better medical facilities has several potential benefits for market expansion. New competitors may have chances in the worldwide market for treating autoimmune diseases due to the increased accessibility of biosimilar medications and more economical treatments.
Autoimmune Disease Therapeutics Market: Challenges
- Quality and safety of autoimmune illness control therapy continue to be a global challenge
The quality and safety of autoimmune disorder control therapy may pose a challenge to the growth of the global autoimmune disease treatment market. The high cost of treatment is a significant disadvantage for the autoimmune disease diagnosis and treatment market share, and inadequate infrastructure in low-income geographic areas will slow illness syndrome treatment market growth.
Lack of awareness and skilled professionals for therapeutic procedures: Lack of knowledge and skilled workers may challenge market expansion. Lack of knowledge among the populace in any area can disregard the disease's subsequent, potentially lethal treatments. Some regions have poor healthcare facilities.
Global Autoimmune Disease Therapeutics Market: Segmentation
- The global autoimmune disease therapeutics market is segregated based on drug class, distribution channel, and region.
By drug class, the market is divided into immunosuppressants, anti-inflammatory drugs, corticosteroids, nonsteroidal anti-inflammatory drugs, and biologics. Among these, the anti-inflammatory drugs segment dominates the market, accounting for more than 30% of global sales.
By distribution channel, the market is classified into hospitals, clinics, drug stores, and independent pharmacies. Over the forecast period, the hospital segment is expected to develop faster.
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List of Key Players in Autoimmune Disease Therapeutics Market:
- Chugai Pharmaceutical Co. Ltd
- Amgen Inc
- Eli Lilly and Company
- Genentech Inc
- Elan Corporation Plc
- F. Hoffmann-La Roche AG
- Squibb Company
- Merck & Co. Inc
- GlaxoSmithKline Plc
- Bayer Schering Pharma AG
- Biogen Idec Inc
- Johnson & Johnson Inc
- Abbott Laboratories
Key questions answered in this report:
- What are the growth rate forecast and market size for Autoimmune Disease Therapeutics Market?
- What are the key driving factors propelling the Autoimmune Disease Therapeutics Market forward?
- What are the most important companies in the Autoimmune Disease Therapeutics Market Industry?
- What segments does the Autoimmune Disease Therapeutics Market cover?
- How can I receive a free copy of the Autoimmune Disease Therapeutics Market sample report and company profiles?
Report Scope:
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Recent Developments
- January 2021 - Exagen Inc., an organization, committed to revolutionizing the care continuum for patients with autoimmune illnesses, stated that all AVISE test options (SLE Prognostic, Lupus, CTD, SLE Monitor, APS, MTX, Vasculitis AAV, and HCQ) were signed in-network service with Tufts Health Center, an esteemed academic medical center on a global scale.
- August 2019 - The U.S. FDA authorized PerkinElmer, Inc.'s EUROIMMUN Anti-Tissue Transglutaminase ELISA to help doctors determine whether to confirm or rule out a diagnosis of celiac disease.
Regional Dominance:
- Increasing government initiatives will help North America dominate the global market.
North America dominates the global autoimmune disease therapeutics market and accounted for more than 42.4% of the worldwide revenue in 2021. This is due to the rising prevalence of autoimmune diseases and the increased presence of government programs such as the Patient Protection Act and the Affordable Care Act. The market in this region is expanding due to rising healthcare spending, improved healthcare infrastructure, increased use of new technology, and the presence of significant vital players. The cost of treating autoimmune diseases is estimated to reach USD 100 billion annually in the United States, according to National Institute of Health estimates.
Over the forecast period, Europe is expected to be the fastest-growing regional market. The rising incidence of autoimmune diseases, expanding government efforts to upgrade the healthcare system, and increased adoption of cutting-edge technologies like portable diagnostic tools and novel biomarkers will all contribute to the expansion of the European market. High R&D activities, combined with the country's growing economic burden of autoimmune disorders, would impact regional development. Increased demand for more reliable diagnoses of systemic and localized diseases will also benefit the market.
Global Autoimmune Disease Therapeutics Market is segmented as follows:
Autoimmune Disease Therapeutics Market: By Drug Class Outlook (2022-2028)
- Immunosuppressants
- Anti-Inflammatory Drugs
- Corticosteroids
- Nonsteroidal Anti-Inflammatory Drugs
- Biologics
Autoimmune Disease Therapeutics Market: By Distribution Channel Outlook (2022-2028)
- Hospitals
- Clinics
- Drug Stores
- Independent Pharmacies
Autoimmune Disease Therapeutics Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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