The global autoimmune treatment market is anticipated to witness growth over the forecast period. Rising prevalence of autoimmune diseases is the major driver attributing towards the growth of the market. As per the statistics published by the National Institute of Health (NIH), around 23.5 million people in the U.S. alone suffer from autoimmune disease thereby leading to increasing need of developing apt treatment procedures and devices. Furthermore, slow turnaround associated with the autoimmune disease diagnostics procedures is also affecting the market growth positively. Rising public awareness towards the availability of various alternatives for treatment is expected to further boost the market growth during the forecast period. Growing initiatives by the government and pharmaceutical companies to enhance the R&D initiatives to develop new drugs and therapies is expected to boost the market in the coming six years.
The autoimmune treatment market is bifurcated on the basis of application into localized autoimmune diseases and systemic autoimmune diseases. The systematic autoimmune disease is further sub-segmented into rheumatoid arthritis, psoriasis, lupus, and others. Rheumatoid arthritis dominated the market under the systemic autoimmune diseases segment. Rising prevalence of this disease coupled with growing patient awareness levels accounted for the major share of this market. Multiple sclerosis, dominated the market under localized autoimmune disease. On the basis of products the market is segmented into diagnostic equipments, drugs, and therapeutic & monitoring equipment. Some major drugs analyzed in the study include non-steroidal anti-inflammatory drugs (NSAID), glucocorticoids, methotrexate, anthralin, avonex, and hydroxychloroquine (HCQ). The drugs as well as therapy & monitoring market is expected to grow substantially, due to the fact that almost all the autoimmune diseases are chronic in nature with no permanent cure.
Regionally North America dominated the autoimmune treatment market. Availability of high disposable income with the population of this region along with the presences of a large patient base suffering from various autoimmune disorders contributed towards the growth of this region. Asia Pacific is expected to witness substantial growth during the forecast period as a consequence of rapidly improving healthcare infrastructure coupled with rising patient awareness levels regarding the early treatment of the autoimmune disorders.
The major companies operating in the global autoimmune treatment market are Abbott Laboratories, Amgen, Johnson & Johnson, Eli Lilly & Co., Pfizer, Roche, Astrazeneca Plc, and Bristol-Myers Squibb Co. The market of autoimmune treatments is consolidated and the companies are involved in developing novel drugs and technology to maintain their pace and retain a substantial share in the market.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.