September 09, 2021
According to the research report titled ‘Global Systemic Scleroderma Treatment Market Size study, by Drug Class (Immunosuppressors, Phosphodiesterase 5 inhibitors - PHA, Endothelin Receptor Antagonists, Prostacyclin Analogues, Calcium Channel Blockers and Others), and Regional Forecasts 2021-2027’, available with Market Study Report, global systemic scleroderma treatment market was worth USD 1.46 billion in 2020 and is estimated to account USD 1.92 billion by the end of the forecast period 2021-2027, exhibiting a CAGR of 4% throughout.
The demand in global systemic scleroderma treatment market is rising due to increasing prevalence of the condition grant of supplemental approvals to pharmaceutical companies. For instance, U.S. FDA, in September 2020, assigned Orphan Drug Designation to Kadmon Holdings Inc. for Belumosudil (KD025), its novel drug candidate developed for treating systemic sclerosis.
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Similarly, Boehringer Ingelheim International GmbH's Ofev (nintedanib) drug got approval from U.S. FDA for treating patients suffering from systemic sclerosis and interstitial lung disease (SSc-ILD).
For the uninitiated, systemic scleroderma is an autoimmune disorder wherein the immune system malfunctions and starts attacking the body's own tissue and organs.
Elaborating on the opportunities in the industry, rising emphasis of biotechnology sector towards development of new therapies is anticipated to enhance the remuneration potential of pharma companies over the projected timeline.
Speaking of restraints, clinical trial failures and lack of validated results are negatively impacting the global systemic scleroderma treatment industry outlook, claims the study.
From a geographical perspective, North America (U.S., Canada), Europe (U.K., France, Germany, Italy Spain), Asia Pacific (India, Japan, China, Australia, South Korea), and Latin America are the key growth avenues for the industry.
North America captures a significant market share mainly due to rising prevalence of the condition in the region. Meanwhile, Europe market is anticipated to grow tremendously in the upcoming years, creditable to higher utilization of generics and biosimilars for off-label systemic scleroderma therapy.
With respect to the competitive landscape, Mylan N.V., Eli Lilly and Company, United Therapeutics Corp., Johnson & Johnson Services Inc., Hoffmann-La Roche Ltd, Pfizer Inc., Novartis AG, GlaxoSmithKline plc, Gilead Sciences Inc., and Boehringer Ingelheim International GmbH are the major players influencing global systemic scleroderma treatment market.
Industry players are increasingly focusing on new product development, clinical trials, and R&D investments to gain a competitive edge. Moreover, they are also undertaking strategies like mergers, partnerships, and acquisitions to improve their positioning in the marketplace.