The Lupus Therapeutic Market is Estimated To Witness High Growth Owing To Increased Awareness Regarding Disease Treatment and Management

The 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 consists of several classes of drugs used to treat symptoms of systemic lupus erythematosus (SLE). The main types of drugs used are corticosteroids, nonsteroidal anti-inflammatory drugs (NSAIDs), antimalarial drugs, immunosuppressants and biologics. These drugs help reduce inflammation, relieve joint pain and skin rashes, prevent damage to internal organs and reduce severity of disease flares. Due to the chronic nature and complexity of lupus, treatment often involves managing symptoms, preventing disease progression as well as improving quality of life.

Market key trends:
Increased awareness regarding disease treatment and management through various government and non-government initiatives is a key trend fueling the lupus therapeutic market growth. For instance, countries like U.S., U.K., Canada, Australia etc. regularly conduct public awareness campaigns to educate people about lupus, its symptoms and importance of seeking medical help. This has led more number of patients to get diagnosed and opt for therapeutic treatment of symptoms. Further, pharmaceutical manufacturers focusing on developing novel biologic therapies and combinations is also supporting the market growth. In the coming years, innovation in therapeutic areas like neuropsychiatric symptoms, kidney involvement, obesity management etc. is expected to present lucrative opportunities in the lupus therapeutic market.

Porter’s Analysis
Threat of new entrants: The lupus therapeutic market has relatively high entry barriers due to extensive R&D required, high capital investment for manufacturing facilities and distribution network.
Bargaining power of buyers: Large healthcare organizations and hospitals have significant bargaining power as they are able to negotiate lower prices from key pharma companies.
Bargaining power of suppliers: A few prominent global players dominate the supply chain for raw materials and key drug components in lupus therapeutics market.
Threat of new substitutes: Alternative therapeutic treatment options exist but lupus is complex autoimmune disorder requiring personalized treatment approach.
Competitive rivalry: Highly competitive market with focus on new drug innovations, combination therapies and expanding in emerging regions.

SWOT Analysis
Strength: Wide treatment options available from corticosteroids to immunosuppressants and biologics. Growing awareness about early diagnosis and management of lupus.
Weakness: High costs associated with prolonged treatment. Limited understanding of disease etiology and biomarkers hinder development of curative drugs.
Opportunity: Rising healthcare expenditure in developing nations. Growing research collaborations to develop novel targeted therapies.
Threats: Risk of resistance to existing drugs. Stringent regulatory approvals and recalls impact market revenues.

Key Takeaways
The Global Lupus Therapeutic Market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of autoimmune disorders and growing awareness. North America dominates the market currently due to high diagnostic rates and availability of advanced treatment options.

Regional analysis Asia Pacific region is poised to showcase fastest growth during the forecast period majorly driven by rising healthcare spending, large patient pool and increasing focus of key companies to tap unmet needs.

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.

Read More – https://www.pressreleasebulletin.com/the-growing-adoption-of-targeted-drug-therapy-is-anticipated-to-open-up-the-new-avenues-for-lupus-therapeutic-market/

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