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The global sarcoidosis therapeutics market size is estimated to grow by USD 72.82 million at a CAGR of 4.94% between 2023 and 2028.
Sarcoidosis is a rare condition that causes small granulomas in the various organs of the body. It usually affects the lungs and skin. Confirmatory diagnosis methods are required to confirm the disease after assessing the initial symptoms of the disease. Moreover, to avoid delay in diagnosis and unawareness about the treatment, various government and non-government organizations such as the Foundation for FSR and the National Heart, Lung and Blood Institute (NHLBI) of the NIH are increasing awareness about sarcoidosis and its treatment among people. Furthermore, the British Lung Foundation (BLF), a UK charity foundation, is raising awareness about the disease's cause and its symptoms and how it is diagnosed and can be treated in the UK. Consequently, the increase in the number of organizations and institutes that create awareness about sarcoidosis among people is expected to propel the growth of the market during the forecast period.
Technavio has segmented the market into Product, Distribution Channel, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our market analysis and report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
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The market share growth by the corticosteroids segment will be significant during the forecast period. The application of corticosteroids has increased over the years, as they are the medications that perform anti-inflammatory and immune suppression activities, which are primarily required for the treatment of sarcoidosis. Due to their high therapeutic effect, corticosteroids remained the primary treatment option for sarcoidosis.
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The corticosteroids segment was valued at USD 138.65 million in 2018. The growth of the corticosteroids segment is primarily driven by the increasing use of the US FDA-recommended corticosteroids for the treatment of sarcoidosis. Moreover, topical corticosteroids can be prescribed for cutaneous involvement, and eye drops may be prescribed for uveitis. Thus, such factors are expected to propel the growth of the corticosteroids segment in the global sarcoidosis therapeutics market during the forecast period.
Hospital pharmacies include pharmaceuticals that are purchased directly by hospitals from different pharmaceutical companies and used for the treatment of either outpatients or inpatients. Hospital pharmacies have rapidly emerged as the preferred distribution channel for sarcoidosis drugs. The reach and influence of hospitals will continue to increase as they purchase or take controlling stakes in physician practices. More hospitals are consolidating into larger healthcare systems, which can include payors, specialty services, outpatient clinics, long-term care facilities, and physician practices. Hence, such factors will drive the growth of the segment and market in focus during the forecast period.
Retail pharmacies (usually known as community pharmacies) sell medicine and medical-related products, as well as other goods such as toiletries, cosmetics, and veterinary products, to the general public and medical practitioners. A retail pharmacy's profitability is probably going to be under pressure. Competition wages are getting tighter, and expenses are rising for everything from rent to increasingly stringent licensing and certification requirements. In addition, retail pharmacists are forced to purchase new technology and products that can help keep them up-to-date and competitive. Nevertheless, the expansion of retail pharmacies across various parts of the globe will drive the segment and will drive the growth of the market in focus during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America dominates the global sarcoidosis therapeutics market in terms of market share, which is largely due to the rising awareness about the disease in key countries such as the US and Canada. Furthermore, the increased funding for the research on sarcoidosis is expected to drive growth in the sarcoidosis therapeutics market forecast.
For example, FSR, based in the US, has worked toward the mission to stop sarcoidosis. FSR has provided annual Research Awards, Abstract Awards, and Research Support to select programs. FSR awarded and planned for USD 4 million in grants to support innovative research projects in 2021. The expected approvals of Phase II clinical-stage molecules used in the treatment of sarcoidosis, such as cibinetide and CMK389 in the US and Canada, are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Halozyme Therapeutics Inc.: The company offers sarcoidosis therapeutics namely OTREXUP injection.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
Increasing funding for research on sarcoidosis is the key factor driving market growth. Despite significant research over the past several decades, a treatment that is promising and has fewer side effects is not yet available for sarcoidosis. In addition, the etiology of the disease is not yet known, and the disease may develop in multiple organs, which is making small-scale pharmaceutical companies and universities hesitate to invest in R&D of sarcoidosis treatment. Hence, various government and private organizations are releasing funds to increase the research on sarcoidosis for the innovation of promising therapeutics that can demonstrate better safety and efficacy than the available medications.
For example, FSR has provided annual research awards, abstract awards, and research support to select programs. Collectively, FSR awarded and planned USD 4 million in grants to support innovative research projects in 2021. Thus, such funds encourage pharmaceutical companies and universities to focus on the development of promising therapeutics for the treatment of sarcoidosis, such factors will drive the market growth during the forecast period.
The development of biosimilars for immunosuppressants is one of the primary market trends shaping market growth. Biosimilars are biological agents that have a resemblance to reference products that are currently licensed and authorized by the FDA in the US which is the one of the market trends and analysis. When it comes to safety, potency, purity, or effectiveness, biosimilars are identical to their corresponding reference biological therapies. Biologics such as infliximab, adalimumab, and rituximab are being used as off-label treatment options for the treatment of sarcoidosis.
Moreover, biologics are highly expensive. Consequently, several pharmaceutical companies are focusing on the development of biosimilars of biologics, as the biosimilars are of lower cost than the branded drugs. For example, eculizumab, natalizumab, and omalizumab are some of the biosimilars under clinical trials for immunosuppressants. Thus, the development of low-cost therapeutics such as biosimilars will drive market growth during the forecast period.
Stringent regulations of sarcoidosis therapeutics are a challenge that affects market growth. Regulatory bodies have stringent regulations to provide marketing approval for therapeutics that are being developed for the treatment of sarcoidosis. The applicant needs to provide all the information related to the drug, which includes the results of the studies conducted in animal models, the pharmacodynamics and pharmacokinetics of the drug, and the safety profile of the drug in its clinical studies conducted in humans.
In addition, other information required includes the dosage, route of administration, dosage forms and strengths, contraindications, warnings and precautions, drug interactions, and adverse reactions. Many applications get rejected either due to inadequate drug performance or the information about the drug submitted to the US FDA is unsatisfactory. Such stringent government regulations can lead to a delay in drug approvals, which, in turn, will impede the growth of the global sarcoidosis therapeutics market during the forecast period.
The market report includes the adoption lifecycle of the market growth and forecasting, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Sarcoidosis Therapeutics Market Customer Landscape
The sarcoidosis therapeutics market report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
Sarcoidosis Therapeutics Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.94% |
Market Growth 2024-2028 |
USD 72.82 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.98 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Amneal Pharmaceuticals Inc., Anant Pharmaceuticals Pvt. Ltd., Atom Pharma, aTyr Pharma Inc., Fresenius SE and Co. KGaA, Halozyme Therapeutics Inc., Horizon Therapeutics Plc, Jubilant Pharmova Ltd., Kyorin Pharmaceutical Co. Ltd., Mallinckrodt Plc, Novartis AG, OrphAI Therapeutics, Pfizer Inc., Prometheus Laboratories, RELIEF THERAPEUTICS Holding SA, SarcoMedUSA Inc., Teva Pharmaceutical Industries Ltd., Viatris Inc., and Xentria Inc. |
Market dynamics |
Parent market analysis, market growth analysis, inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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