Transparency Market Research has published a new market report titled, “Scleroderma Diagnostics & Therapeutics Market: (By Drug Class – Corticosteroids, Immunosuppressive Agents, Endothelin Receptor Agonists, Calcium Channel Blockers, PDE-5 Inhibitors, Chelating Agents, Prostacyclin Analogues, and Others; By Indication – Localized and Systemic; By Diagnostic Test Type – Skin Biopsy, Imaging Techniques, Blood Test, Electrocardiogram & Echocardiogram, and Pulmonary Function Tests) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, 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 in 2024. This report offers a thorough understanding of the global scleroderma diagnostics & therapeutics market, its key market trends, drivers, restraints, opportunities, and threats.
It has been estimated that globally, over 2.5 million people suffer from scleroderma. In the U.S., it is estimated that about 300,000 people have scleroderma and approximately one third of those people have the systemic form of the disease. These figures represent the volume of opportunity that lies in a market that has high unmet needs, due to the lack of a potent and approved therapy for treating the rare autoimmune disease. Presently, the prescribed treatment varies as per patient symptoms and institutional guidelines in different countries across the globe. However, better diagnostic and treatment rates, in part due to proactive awareness initiatives by various foundations, have led to North America and Europe gaining the predominant share in the global scleroderma diagnostics and therapeutics market throughout the forecast period. North America accounted for a share of over 33.0% of the global scleroderma therapeutics market in 2015. This is attributed to presence of highly renowned pharmaceutical companies, research organizations, and institutes in the region which are focused on finding out a standard treatment. The ongoing cutting-edge research pertaining to scleroderma has also led to rise of the niche market in these regions.
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There are presently around 30 scleroderma support groups in Canada and 150 in the U.S.; most of which are held in person and led by patients. The existence of such support groups also contributes towards the growth of the market, since it helps disseminate knowledge regarding the management of scleroderma and learn about medications used in the treatment of the condition. For instance, in a survey published in 2015 by students from the Jewish General Hospital and McGill University, it was found that 91% of the 171 participants surveyed listed learning about medications used in scleroderma management as very important reasons for attending scleroderma support group sessions. Moreover, events such as fundraisers, which are often held in the U.S., have helped North America to gain a strong foothold in the market.
Europe held the second highest share of the global scleroderma diagnostics and therapeutics market in 2015. The U.K. is expected to gain 0.6% market share during the forecast period. Rise in awareness among both physicians and patients is attributed to increase in market share for the U.K. Awareness among physicians is raised through recommendations by the EULAR and BSR and patient awareness is raised through initiatives by organizations such as the Scleroderma and Raynaud’s Foundation UK (SRUK). The World Scleroderma Foundation is the host and organizing body of the World Scleroderma Congress which takes place every alternate year in different locations. The first four congresses in Florence 2010, Madrid 2012, Rome 2014, and Lisbon 2016 have been a significant success. These are all European cities and thus, such congresses have helped boost the market for scleroderma in Europe by raising awareness about the rare disease in the region.
Asia Pacific represents an emerging economy, which has 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 compared to North America and Europe, the market for Asia Pacific gained the third position in terms of market share in 2015. In June 2016, on World Scleroderma Day, an education/information day was held by Scleroderma Singapore and Scleroderma Australia as well as by certain Indian hospitals and support groups to promote better awareness for the disease. Such events are anticipated to bolster market growth for scleroderma therapeutics in Asia Pacific. Similarly in 2016, the Brazilian Scleroderma Society (ABRAPES) held several events in the month of June to raise awareness about World Scleroderma Day. The awareness initiatives will augment growth in the Latin America market during the forecast period. The scleroderma therapeutics market in Latin America is estimated to create an incremental opportunity of US$ 178.7 Mn between 2016 and 2024 The scleroderma therapeutics market in UAE is likely to remain stable due to rise in awareness counterbalanced by the reduction in price of drugs.
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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 the key players operating in the global scleroderma diagnostics and therapeutics market.
The global scleroderma diagnostics and therapeutics market has been segmented as follows:
Global Scleroderma Therapeutics Market, by Drug Class
- Immunosuppressive Agents
- Endothelin Receptor Agonists
- Calcium Channel Blockers
- PDE-5 Inhibitors
- Chelating Agents
- Prostacyclin Analogues
- Others (H2 Blockers, Proton Pump Inhibitors, ACE Inhibitors etc.)
Global Scleroderma Therapeutics Market, by Indication
Global Scleroderma Diagnostics Market, by Test Type
- Skin Biopsy
- Imaging Techniques
- Blood Tests
- Electrocardiogram and Echocardiogram
- Pulmonary Function Tests
Global Scleroderma Diagnostics and Therapeutics Market, by Geography
- North America
- Asia Pacific
- Rest of APAC
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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