Scleroderma Diagnostics and Therapeutics Market: Industry Overview and Key Factors

Global Scleroderma Diagnostics and Therapeutics Market: Snapshot

The scleroderma therapeutics and diagnostics market exhibits high potential due to untapped needs and is set to grow rapidly in the near future due to the increasing focus globally on treatment of orphan diseases. The lack of approved drugs in the market makes it a highly opportune condition for players to convert their innovative drug ideas into successful treatment methods for this rare chronic inflammatory disease.

According to Transparency Market Research, the global scleroderma diagnostics and therapeutics market was valued at US$1,633.5 mn in 2015 and is projected to expand at a CAGR of 9.7% from 2016 to 2024 to reach US$3,663.7 mn by 2024.

This 176 page report gives readers a comprehensive overview of the scleroderma diagnostics and therapeutics market. Browse through 26 data tables and 69 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/scleroderma-diagnostics-therapeutics.html

Physician and Patient Preference to make Immunosuppressive Agents Leading Drug Category

Presently, there is no approved drug for treatment of this orphan disease. Although drugs to manage symptomatic relief are available in the scleroderma therapeutics market, the treatment of scleroderma is challenging for a physician, since no two patients are alike in the progress of their disease. Thus, a host of different drugs are prescribed to every patient, depending on the extent, severity and nature of their symptoms.

It has been observed that patient consumption patterns in the global scleroderma diagnostics and therapeutics market are inclined towards immunosuppressive agents, which have shown to provide relief against several symptoms in both systemic and localized scleroderma cases. Moreover, of the very few treatments identified to efficaciously modify the course of scleroderma, physicians often recommend immunosuppressive agents to manage the most common symptoms of the disease. The segment, as a result, accounts for the dominant share in the global market.

Prostacyclin analogues have been found to have a potent effect in treating systemic scleroderma patients who suffer from pulmonary arterial hypertension. However, these drugs are expensive and thus, even though a smaller sub-set of patients is administered with these agents, their market value is high. This segment grabbed over 8.0% share of the global scleroderma therapeutics market in 2015, and is anticipated to slightly decline by 2024 owing to availability of cheaper alternatives within this segment.

Developed Regions to Continue to Command Dominance

Owing to better diagnostic and treatment rates, in part due to proactive awareness-raising initiatives by various foundations, have aided North America and Europe gain the predominant share in the global scleroderma diagnostics and therapeutics market. North America accounted for a share of nearly 34.0% while Europe held nearly 30% of the global scleroderma therapeutics market in 2015. This is attributed to presence of renowned pharmaceutical companies, research organizations, and institutes in the regions, which are focused on finding a standard treatment for the condition.

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The North America and Europe markets for scleroderma diagnostics and therapeutics are expected to retain their dominance in the global scleroderma diagnostics and therapeutics market throughout the forecast period, exhibiting CAGRs of 11.2% and 10.9%, respectively, over the period between 2016 and 2024. The ongoing cutting-edge research pertaining to scleroderma will aid the growth of a niche scleroderma diagnostics and therapeutics market in these regions.

Asia Pacific represents some of the world’s key emerging economies, which have the potential to adopt quickly to new therapies, provided they are available at reasonable costs. Due to the price-sensitive nature of the market, as well as availability of cheaper generics and reasonable clinical diagnostic rates compared to North America and Europe, the market for Asia Pacific gained the third position in terms of market share in 2015. The Asia Pacific market will also retain its position in the global market over the forecast period, with factors such as large population and high unmet needs working in favor of market expansion in the region.

Actelion Pharmaceuticals, Inc., Boehringer Ingelheim, Bayer AG, Cytori Therapeutics, Inc., Corbus Pharmaceutical Holdings Inc, Cumberland Pharmaceuticals, Inc., Gilead Sciences, Inc., Pfizer, Inc., and Sanofi are some of the key players operating in the global scleroderma diagnostics and therapeutics market.

Scleroderma Diagnostics and Therapeutics Market: Industry Overview and Key Factors

The global market for scleroderma diagnostics and therapeutics features a fragmented marketplace owing to the presence of several pharmaceutical companies market with different drugs for the multiple complex symptoms experienced by a scleroderma patient, observes Transparency Market Research (TMR) in a recent report.

Some of the leading international pharmaceutical companies have products in clinical trial phases for treatment of systemic sclerosis symptoms. The relatively lower number of these companies has made competitive rivalry in the niche scleroderma diagnostics and therapeutics market low to moderate. The need for expertise in the field of rare diseases has made the scleroderma diagnostics and therapeutics difficult for new players to enter. Strategic collaborations and attempts to expand business across key regional markets are some of the most popular strategies undertaken by these players.

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Pfizer, Inc., for instance, has entered into multiple agreements in 2015 such as the acquisition of AM Pharma, Baxter portfolio of marketed vaccines, collaborations with OPKO Health, Merck KGaA, and various investments in ViiV Healthcare Limited and Hisun Pharmaceuticals.

In terms of drug category, the segment of immunosuppressive agents is expected to retain dominance over the forecast period. In terms of geography, developed regions such as North America and Europe take the lead.

TMR estimates that the global scleroderma diagnostics and therapeutics market will expand at a CAGR of 9.7% from 2016 to 2024 and rise from US$1,633.5 mn in 2015 to US$3,663.7 mn by 2024.

High Unmet Medical Needs Propel Growth

The scleroderma therapeutics market is driven by factors such as rise in clinical trials for systemic sclerosis, high acceptance of new therapies by patients, and new drug approvals for conditions such as pulmonary arterial hypertension, a significant symptom for certain systemic scleroderma patients. The high unmet medical needs owing to the nonexistence of adequate therapies for scleroderma is also a highly favorable opportunity that can be encashed by developing innovative treatment methods and drug classes for the condition.

Rising focus on undertaking awareness-raising initiatives is also expected to augment growth of the market in emerging economies such as Asia Pacific and Latin America, the relatively underdeveloped nature and the vast unmet needs across which present vast growth opportunities for market players to strengthen their foothold. A recent instance is the observance of an education/information day in June 2016 by Scleroderma Singapore and Scleroderma Australia as well as by certain Indian hospitals and support groups to promote better awareness regarding the disease.

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High Cost of Treatment and Drugs to Impede Growth

Orphan drugs are usually premium-priced and the high cost of certain new launches is likely to remain one of the most impactful obstacles for the growth of the scleroderma diagnostics market in price-sensitive regions such as Asia Pacific and Africa. It is estimated that the per year treatment cost of a single systemic sclerosis patient suffering from pulmonary hypertension falls in the bracket of hundreds of thousands of dollars. Along with high disposable incomes, the favorable reimbursement structure in developed regions make these treatment costs for patients in regions such as Europe and North America more affordable than in developing regions such as Asia Pacific and Africa.

This review of the market is based on a recent market research report by Transparency Market Research, titled “Scleroderma Diagnostics and Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024.”

Scleroderma Diagnostics and Therapeutics Market: Physician and Patient Preference to make Immunosuppressive Agents Leading Drug Category

TMR estimates that the global scleroderma diagnostics and therapeutics market will expand at a CAGR of 9.7% from 2016 to 2024 and rise from US$1,633.5 mn in 2015 to US$3,663.7 mn by 2024.

Global Scleroderma Diagnostics and Therapeutics Market: Snapshot

The scleroderma therapeutics and diagnostics market exhibits high potential due to untapped needs and is set to grow rapidly in the near future due to the increasing focus globally on treatment of orphan diseases. The lack of approved drugs in the market makes it a highly opportune condition for players to convert their innovative drug ideas into successful treatment methods for this rare chronic inflammatory disease.

Read Full Press Release: http://www.transparencymarketresearch.com/pressrelease/scleroderma-diagnostics-therapeutics.htm

Physician and Patient Preference to make Immunosuppressive Agents Leading Drug Category

Presently, there is no approved drug for treatment of this orphan disease. Although drugs to manage symptomatic relief are available in the scleroderma therapeutics market, the treatment of scleroderma is challenging for a physician, since no two patients are alike in the progress of their disease. Thus, a host of different drugs are prescribed to every patient, depending on the extent, severity and nature of their symptoms.

It has been observed that patient consumption patterns in the global scleroderma diagnostics and therapeutics market are inclined towards immunosuppressive agents, which have shown to provide relief against several symptoms in both systemic and localized scleroderma cases. Moreover, of the very few treatments identified to efficaciously modify the course of scleroderma, physicians often recommend immunosuppressive agents to manage the most common symptoms of the disease. The segment, as a result, accounts for the dominant share in the global market.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2498

Prostacyclin analogues have been found to have a potent effect in treating systemic scleroderma patients who suffer from pulmonary arterial hypertension. However, these drugs are expensive and thus, even though a smaller sub-set of patients is administered with these agents, their market value is high. This segment grabbed over 8.0% share of the global scleroderma therapeutics market in 2015, and is anticipated to slightly decline by 2024 owing to availability of cheaper alternatives within this segment.

Developed Regions to Continue to Command Dominance

Owing to better diagnostic and treatment rates, in part due to proactive awareness-raising initiatives by various foundations, have aided North America and Europe gain the predominant share in the global scleroderma diagnostics and therapeutics market. North America accounted for a share of nearly 34.0% while Europe held nearly 30% of the global scleroderma therapeutics market in 2015. This is attributed to presence of renowned pharmaceutical companies, research organizations, and institutes in the regions, which are focused on finding a standard treatment for the condition.

The North America and Europe markets for scleroderma diagnostics and therapeutics are expected to retain their dominance in the global scleroderma diagnostics and therapeutics market throughout the forecast period, exhibiting CAGRs of 11.2% and 10.9%, respectively, over the period between 2016 and 2024. The ongoing cutting-edge research pertaining to scleroderma will aid the growth of a niche scleroderma diagnostics and therapeutics market in these regions.

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Asia Pacific represents some of the world’s key emerging economies, which have the potential to adopt quickly to new therapies, provided they are available at reasonable costs. Due to the price-sensitive nature of the market, as well as availability of cheaper generics and reasonable clinical diagnostic rates compared to North America and Europe, the market for Asia Pacific gained the third position in terms of market share in 2015. The Asia Pacific market will also retain its position in the global market over the forecast period, with factors such as large population and high unmet needs working in favor of market expansion in the region.

Actelion Pharmaceuticals, Inc., Boehringer Ingelheim, Bayer AG, Cytori Therapeutics, Inc., Corbus Pharmaceutical Holdings Inc, Cumberland Pharmaceuticals, Inc., Gilead Sciences, Inc., Pfizer, Inc., and Sanofi are some of the key players operating in the global scleroderma diagnostics and therapeutics market.