Market Trends of Cyclosporine Drugs Industry
This section covers the major market trends shaping the Cyclosporine Drugs Market according to our research experts:
Rheumatoid Arthritis Indication and is Expected to Grow Over the Forecast Period
Rheumatoid arthritis causes stiffness, swelling, and joint pain which may lead to chronic pain and the ability to perform daily activities. It is expected to have significant growth due to the creation of novel treatment drugs made possible by recent developments in the understanding of the pathophysiology of rheumatoid arthritis. It accounted for the largest segment in the global cyclosporine drugs market through the forecast period owing to the rising research funding on the diseases
For instance, as per the data published in NIH, 2022, the research funding for rheumatoid arthritis in the United States is estimated to be USD 93 million in 2021 and by 2022 it is expected to be USD 97 million. Thus increase in research funding creates a better scope for the segment over the study period and is expected to drive the growth of the market.
Furthermore, the increase in the prevalence of rheumatoid arthritis drives the cyclosporine drugs market over the period. For instance, as per the report published by Nature Reviews Rheumatology, in September 2022, rheumatoid arthritis prevalence is increasing and the disparity is due to the factors like genetic factors, environmental exposures, demographics, socioeconomic status, and disease reporting. It also stated that rheumatoid arthritis estimates for prevalence and disease burden vary widely by geographic area, with generally higher estimates in industrialized nations and urban environments. Thus, the rising presence of rheumatoid arthritis increases the demand for the usage of cyclosporine, as it is one of the major products in the management of rheumatoid arthritis.
Thus, owing to the aforementioned factors, the rheumatoid arthritis segment is expected to grow significantly over the forecast period.
North America is Expected to Dominate Market Over the Forecast Period
North America is expected to have a significant share owing to the presence of major market players. Furthermore, factors such as the increasing prevalence of autoimmune diseases and product launches along with various government initiatives aimed at the prevention and treatment of the target disease are expected to drive regional growth.
Moreover, the rising cases of target diseases like psoriasis and rheumatoid arthritis in the region are majorly adding to the market growth. For instance, as per the report published by Global Psoriasis Atlas 2022, psoriasis is relatively common in Canada, with a prevalence of 2-3%, however, due to unique population differences, it is likely to be more prevalent in the Canadian province of Newfoundland and Labrador, where it is also estimated to be 5- to 10-fold more prevalent than in most other Caucasian populations. Similarly, as per the Arthritis Foundation report on rheumatoid arthritis updated in October 2021, around 1.5 million people in the United States were affected by rheumatoid arthritis. The report also revealed that women are at three times more risk of being affected than men. Such an increase in the prevalence of the rheumatoid disorder in the region is expected to boost the growth of the studied market over the forecast period.
Moreover, the new product approvals and launches by the major market players help the growth of the market. For instance, in January 2022, Sun Pharma launched Cequa (cyclosporine ophthalmic solution 0.09 percent w/v) in Canada. It is indicated to increase tear production in patients with keratoconjunctivitis sicca (dry eye). The product is delivered with nanomicellar (NCELL) technology, which improves the bioavailability and physicochemical stability of cyclosporine to increase ocular tissue penetration. Such product launches in the region are expected to add to the market growth over the forecast period.
Therefore, owing to the above factors, the cyclosporine drugs market in the North American region is expected to project growth over the forecast period.
