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.
Get More Insights On Sjogren's Syndrome Market
The Global Sjogren's Syndrome market 2020-2026 report gives complete information concerning the market, size, commercialization perspectives, and revenue forecast of the business.
The global Sjogren's Syndrome market report covers the major product & application categories & segments.
The Global Sjogren's Syndrome research report Forecast provides a comprehensive outline of the business with the expectations of the development and revenue.The analysis is assessed with the assistance of detailed market surveying.
The global Sjogren's Syndrome industry report has been assembled using primary and secondary research methods, which provide precise and accurate comprehension.
The client gets wide knowledge and deep perceptive of Sjogren's Syndrome restraints, distinct drivers, and factors impacting the industry.Detailed TOC along with also Charts & Tables of Sjogren's Syndrome Market Research Report accessible at: https://www.futuristicreports.com/request-sample/55981Key Players Mentioned at the Sjogren's Syndrome Market Report:AstraZenecaarGentis Pharmaceuticals, LLCKissei Pharmaceutical Co., Ltd.EisaiAmgenPfizer Inc.Otsuka Pharmaceutical Co. LtdBiogenSanten Pharmaceutical Co. LtdF.
Hoffmann-La Roche AGAstellas Pharma Inc.Bristol-Myers SquibbOno PharmaceuticalCinkate Corp.Novartis International AGNicox S.ASanofi S.A.Allergan IncGenentech, Inc.,MedImmune, LLCDaiichi SankyoHangzhou Zhongmei Huadong Pharmaceutical Co., Ltd,This Sjogren's Syndrome report analysis attainability with a goal of instructive new players concerning the progressions within the market.
