Sjogren's Syndrome Therapeutics Market To Witness High Growth Due To Rising Prevalence Of Autoimmune Diseases
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| Sjogren's Syndrome Market |
Sjogren's syndrome therapeutics comprise biologics, immunosuppressants, and other drugs that are used for the treatment of dry eyes and mouth caused by Sjogren's syndrome. Sjogren's syndrome is an autoimmune condition that causes chronic inflammation and dryness in the tear and saliva glands. The increasing prevalence of autoimmune diseases and the rising geriatric population are key factors fueling the demand for Sjogren's syndrome therapeutics. Sjogren's syndrome is commonly associated with other autoimmune diseases such as lupus, rheumatoid arthritis, and scleroderma. The global Sjogren's syndrome therapeutics market is estimated to be valued at US$ 279.72 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Sjogren's syndrome therapeutics market are
Allscripts Healthcare LLC, Cerner Corporation, NXGN Management, LLC, Mckesson
Corporation, Koninklijke Philips N.V., Hill-Rom Services, Inc., Cisco Systems,
Inc., GE Healthcare, Stanley Healthcare, and Vocera Communications, among
others. These players are focusing on new product launches and obtaining
regulatory approvals to expand their market share. For instance, in 2022,
Allscripts Healthcare LLC launched a new SaaS product to enhance clinical
documentation for specialty practices.
The growing awareness regarding Sjogren's syndrome symptoms and treatment
presents significant opportunities for manufacturers in the market. Various
non-profit organizations are educating people about autoimmune diseases and
available treatment options through awareness programs and campaigns. This is
expected to boost the adoption of Sjogren's syndrome therapeutics.
The key players are expanding their global footprint to tap the high growth opportunities
in emerging markets. The increasing healthcare expenditure in countries such as
China, India, Brazil, and Mexico is attracting major players to set up
manufacturing and distribution facilities. Partnerships and collaborations are
helping companies enhance their R&D capabilities and geographical presence.
Market Drivers
Rising prevalence of autoimmune diseases globally is a major factor propelling
the Sjogren's syndrome therapeutics market growth. The prevalence of autoimmune
diseases such as rheumatoid arthritis, systemic lupus erythematosus, and
Sjogren's syndrome is increasing significantly over the years. According to
estimates, around 50 million Americans suffer from at least one autoimmune
disease.
Growing geriatric population susceptible to Sjogren's syndrome is boosting the
market growth. The risk of developing Sjogren's syndrome increases with age.
Around 5 million people aged 50 and above in the US are affected by Sjogren's
syndrome. The rising longevity and aging population worldwide is expected to
further drive the demand for Sjogren's syndrome therapeutics over the forecast
period.
Market Restraints
High cost associated with targeted biologic therapies that offer high
efficacy is a key factor hampering the growth of the Sjogren's
Syndrome Market Demand. Biologics such as anti-CD20 antibodies and
anti-interleukin drugs are very expensive compared to traditional therapies.
Stringent regulatory policies and long approval timelines for new drug
candidates poses a major challenge for market players. The development and
commercialization process for Sjogren's syndrome drugs requires extensive
clinical testing, regulatory approvals, and post-marketing surveillance. This
significantly increases the overhead costs.
Segment
Analysis
The
Sjogren's Syndrome Market is dominated by the biologics sub-segment owing to
the high efficacy of biologics in the treatment of symptoms associated with
Sjogren's syndrome. Biologics help reduce inflammation and related pain thereby
improving quality of life of patients. With advancements in biologics, the
treatment landscape for Sjogren's syndrome is changing as biologics are able to
selectively target specific molecules involved in the inflammatory pathway.
Global Analysis
North America dominates the global Sjogren's syndrome market due to growing
cases of the disease along with rapid adoption of advanced treatment measures
in the region. Increased awareness about Sjogren's syndrome and established
healthcare infrastructure also support market growth in North America. Asia
Pacific is expected to witness the fastest growth over the forecast period
owing to rising geriatric population, improving accessibility to healthcare
facilities and increasing focus of market players in Asia Pacific countries.
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