by Lupus is an autoimmune disease in which the immune system attacks its own tissues and organs. Lupus therapeutic products provide relief from symptoms such as joint pain, fatigue, fever, skin lesions, and inflammation. The demand for lupus therapeutics is growing significantly due to the increasing prevalence of the disease worldwide. Biologics have emerged as a promising therapeutic approach to inhibit specific immune responses and blocking certain pro-inflammatory cytokines. Advancements in biologics have accelerated the development of targeted monoclonal antibody therapies for lupus.
The Global Lupus Therapeutic Market is estimated to be valued at US$ 3497 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Lupus Therapeutic market are Pfizer Inc., Abbott Laboratories, AstraZeneca Plc., Novartis AG, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Sanofi S.A. Major companies are focusing on collaborations and partnerships to develop innovative products for lupus treatment.
The increasing awareness about lupus and availability of diagnostic tests present significant growth opportunities in the market.
Advancements in biologics and targeted therapy have accelerated drug development for lupus treatment. Monoclonal antibodies inhibiting specific pathways and blocking pro-inflammatory cytokines show promise.
Market Drivers
Growing research and development activities for drug discovery. Major pharmaceutical players are investing heavily in clinical trials to develop novel biologic agents for lupus treatment.
Rising prevalence of lupus globally increases the demand for effective therapeutic products. According to statistics, around 1.5 million Americans and at least 5 million people worldwide suffer from lupus.
Increased awareness about available treatment options and diagnostic techniques for lupus is driving more patients to seek medication. Biologics are emerging as an effective therapeutic approach compared to conventional drugs.
Current Challenges in the Lupus Therapeutic Market:
The Lupus Therapeutic Market Size is facing several challenges that are hindering its growth potential. Some of the major challenges include high cost of lupus treatment therapies, lack of effective drugs, and poor healthcare infrastructure in underdeveloped regions. Despite improvements, relapse rate is still high among lupus patients. Coming up with more effective drugs that can induce and maintain remission is the need of the hour in the market.
SWOT Analysis
Strength: Availability of several branded drugs from major players. Growing research activities to develop novel therapies.
Weakness: High costs of branded drugs making treatment unaffordable for many. Lack of cure and high relapse rates.
Opportunity: Large patient pool suffering from lupus presents wide market opportunity. Scope for development of affordable biosimilars.
Threats: Stiff competition among players may lead to pricing pressures. Stringent regulations for approval of new drugs.
Geographical Regions
North America currently holds the largest market share in terms of value and is expected to maintain its dominance during the forecast period. Presence of major players, rising lupus prevalence, and favorable reimbursement policies are some factors driving high adoption of lupus therapies in the region.
Asia Pacific is expected to exhibit the fastest growth during the forecast period owing to growing lupus patient population, rising healthcare investments, and increasing awareness about lupus treatment options in major APAC countries. Rapidly developing healthcare infrastructure is also supporting the market growth in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
