Global Immunosuppressive Drugs Market: Overview
The global immunosuppressive drugs market is likely to rise at healthy rate over the period of forecast, from 2019 to 2027. The growth of the market is mostly ascribed to the rising number of organ transplants, progress made in organ transplant techniques and tissue engineering.
Immunosuppressants find copious use in post organ transplants and in the treatment of various autoimmune diseases like psoriasis, rheumatoid arthritis, and multiple sclerosis. After organ transplant, immunity of the patient need to be subdued to allow body to accept newly planted organ. As such, immunosuppressants find ample use post organ transplant surgery, which drive the market over forecast period.
The global immunosuppressive drugs market makes use of five different parameters for better understanding of the market. These parameters are drug type, route of administration, application, end user, and region. Equipped with such detailed segmentations, the understanding of the market could get better and deeper.
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Global Immunosuppressive Drugs Market: Notable Developments
Over the last few years, the global immunosuppressive drugs market has been characterized with some notable developments, one of which is mentioned below:
- In April 2019, GlaxoSmithKline PLC made an announcement of approval of Food and Drug Administration (FDA), US for their newly developed intravenous (IV) formulation of Benlysta. The approval of this new formulation would mean the children in the U.S. would now have an access to this FDA approved, newly developed medication to manage the effects of lupus.
A few of the renowned names in the global immunosuppressive drugs market comprise:
- GlaxoSmithKline PLC
- Bristol-Myers Squibb Company
- Glenmark Pharmaceuticals, Inc.
- Accord Healthcare
- Hoffmann-La Roche AG
- Pfizer Inc.
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Global Immunosuppressive Drugs Market: Key Trends
The growth of the global immunosuppressive drugs market is likely to be influenced by the below-mentioned growth factors over the forecast period, from 2019 to 2027.
Increase in the Number of Organ Transplants is Likely to Bolster its Demand
With the rise in the number of organ transplants and growing prevalence of autoimmune diseases worldwide, the global immunosuppressive drugs market is likely to gather momentum over the period of review. There has been a substantial rise in the number of organ transplants in the recent years. Transplants for various organs such as pancreas, liver, kidneys, and lungs are on the rise thereby supporting the growth opportunities for the global immunosuppressive drugs market. According to the findings of World Health Organization (WHO), nearly 91,800 kidney transplant procedures, around 6,200 lung transplants and about 30,800 liver transplants took place in 2018. Prominent companies of the world are making efforts to leverage rise in organ transplant procedures, which is likely to add to the growth of the market in times to come
Immunosuppressive drugs play an important role in the success of organ transplant procedures, as the demand for these drugs are bound to rise in near future. Changing lifestyle of people over the years has contributed to the rise in the incidences of autoimmune diseases. Change in dietary habits and lifestyle leads to insufficient sleep, stress, unhealthy eating habits, smoking, and various environmental factors are at play in the rise of autoimmune diseases like celiac disease, lupus, and others. With the rise in autoimmune diseases, the global immunosuppressive drugs market is likely to expand rapidly over the assessment period.
The expansion of the global immunosuppressive drugs market is likely to be hindered by strict approval and regulatory processes. In addition, immunosuppressive drugs generally do not provide complementary treatment of any kind.
Global Immunosuppressive Drugs Market: Geographical Analysis
The global immunosuppressive drugs market is divided into the principal regions of North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. From the regional standpoint, North America is likely to lead the growth of the market over the forecast period owing to a rapid rise in the number of organ transplants. In addition, technological advancement of the healthcare sector coupled with massive investment made in the research and development.
Apart from North America, Europe is likely to emerge as another prominent region. Increased prevalence of autoimmune diseases and rising number of organ transplants in Western Europe is anticipated to drive the market in Europe.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.