Autoimmune Disease Therapeutics Market size is forecast to reach $147.3 billion by 2026, growing at a CAGR of 4.7% during the forecast period 2021-2026. Autoimmune disorders are caused by an overactive immune system that attacks its own cells, causing the immune system to kill body tissue. Autoimmune diseases have no permanent cure and they are almost chronic. Around 80 autoimmune diseases are there worldwide whose causes are unknown. Over 300 million patients suffer from this disorder, out of which around 70% – 80% autoimmune patients are women. The high incidence of autoimmune diseases and growing knowledge of autoimmune diseases are the two major factors driving the market’s development. Growth in research in autoimmune diseases and rise in the adoption of autoimmune disease therapeutics is set to further enhance the overall market development of the Autoimmune Disease Therapeutics Market for the period 2021-2026.
Autoimmune Disease Therapeutics Market Segment Analysis – By Disease
Rheumatoid Arthritis held the largest share in the Autoimmune Disease Therapeutics Market in 2020 and is estimated to grow at a CAGR 5.3% during the forecast period 2021-2026. This is attributed to the strong presence of drugs, and wide availability of advanced therapeutics for treatment of disease. Increasing prevalence of scleroderma, rheumatics, and others are factors increasing the growth of the market. Rheumatoid arthritis can cause damage throughout the body and join pain that usually happens on both sides of the body. Sclerosis is mainly caused by the replacement of organ specific tissue with the connective tissue. Rheumatoid Arthritis are estimated to register the higher CAGR over the period 2021-2026.
Autoimmune Disease Therapeutics Market Segment Analysis – By End Users
Hospital held the largest share in the Autoimmune Disease Therapeutics Market in 2020 and is estimated to grow at a CAGR 5.0% during the forecast period 2021-2026. This is attributed to the fact that it offers wide availability of drugs for autoimmune disease along with the high end technological products. Growing demand for immunization, availability of highly skilled and qualified medical professionals in the hospitals along with the rising incidences of autoimmune disease is increasing the demand of the hospitals. Favorable reimbursement policies for hospital procedures and improvements in healthcare facilities are increasing the demand of autoimmune disease therapeutics in hospitals. Hospitals are estimated to register the highest CAGR over the period 2021-2026.
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Autoimmune Disease Therapeutics Market Segment Analysis – By Geography
North America dominated the Autoimmune Disease Therapeutics Market with a major share of 42.4% in 2020. This is attributed to the increasing prevalence of autoimmune disorders and increasing presence of government initiatives. Increasing healthcare expenditure, improving healthcare infrastructure, increasing penetration of new technology, and presence of major key players is also increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rise in purchasing power and increasing incidences in demand for advanced autoimmune disease therapeutics. Rise in healthcare expenditure and increase in early detection is also increasing the growth of the market in this region.
Autoimmune Disease Therapeutics Market Drivers
Growing Prevalence of Various Forms of Autoimmune Disorders
Growing prevalence of various forms of autoimmune disorders is increasing the growth of the Autoimmune Disease Therapeutics Market. Autoimmune disease attacks the healthy cells, organs, and tissues. It can affect any part of the body that weakens the body function and can turn out to be life threatening. These diseases have no cure and sometimes require lifelong treatment to ease the symptoms. Women gets autoimmune disorders at much faster rate than men. Thus, increasing the growth of the Autoimmune Disease Therapeutics Market during the forecast period 2021-2026.
Rising Awareness about Arthritis and its Prevention
Rising awareness about arthritis and its prevention is increasing the growth of the Autoimmune Disease Therapeutics Market. Rheumatoid Arthritis is a disease that cause damage and joint pain throughout the body. It usually happens on the both sides of the body. Though medications have improved treatment options but it can still cause physical disabilities. According to the World Health Organization, the incidence of rheumatoid arthritis ranges from 0.3 percent to 1%, and it is more prevalent in women and in developing countries. Rheumatoid arthritis affects approximately 1.3 million Americans. Thus, increasing the growth of the Autoimmune Disease Therapeutics Market during the forecast period 2021-2026.
Autoimmune Disease Therapeutics Market Challenges
Inadequate Funding and High Cost Involved in The Treatment of the Diseases
Some of the factors that are set to impede the growth of the Autoimmune Disease Therapeutics Market are inadequate funding and high cost involved in the treatment of the disease. Rising side effects associated with treatments, and strict approval process is set to hinder the growth of the market.
Autoimmune Disease Therapeutics Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Autoimmune Disease Therapeutics Market. In 2020, the Autoimmune Disease Therapeutics Market share is consolidated by the top ten players present in the market. The Autoimmune Disease Therapeutics Market, top 10 companies are Amgen Inc., Elan Corporation, Chugai Pharmaceutical Co Ltd., Eli Lily and Company, Abbott Laboratories, Bayer, Roche AG, and Merck & Co. Inc. among others.
Key Takeaways
North America dominated the Autoimmune Disease Therapeutics Market in 2020 owing to the increasing healthcare expenditure and growing prevalence of various forms of autoimmune disorders. The Autoimmune Disease Therapeutics Market scope for different regions will be provided in the final report.
Growing public awareness and technological advancements along with rising awareness about arthritis & its prevention are likely to aid the market growth of the Autoimmune Disease Therapeutics Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Autoimmune Disease Therapeutics Market report.
Inadequate funding and high cost involved in the treatment of the diseases is poised to create the hurdles for the Autoimmune Disease Therapeutics Market.
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