Newark, NJ, Feb. 18, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the  is expected to grow from USD 1.87 billion in 2020 to USD 3.62 billion by 2028, at a CAGR of 6.2% during the forecast period 2021-2028.

Some of the key factors that are fuelling the growth of the lupus therapeutics market include new launches of key pipeline agents with greater efficacy, new drug development, and a global increase in the number of SLE (Systemic Lupus Erythematosus) patients. It has been noted that 30% of the world's SLE cases are from the Americas. Critical pipeline biologics are anticipated to arrive in the market around the year 2021. They are currently in phase III clinical trials. Some of these novel drugs are targeting a nephritis subset, which currently has very few treatment options. The European League Against Rheumatism (EULAR) sets the eligibility for biologics approvals as well as reimbursement guidelines in Europe. 

With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the lupus therapeutics market. With less disposable income and broken supply chains, the market's growth is expected to slow down. A shortage of skilled professionals due to medical workers being shifted to covid-19 frontlines also negatively impacts the market. Diagnosing & identifying Lupus is also tricky since there are no specific tests for SLE diagnosing. Significant side effects in certain cases and slow regulatory approvals also hinder the growth of the global lupus therapeutics market.

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Key players operating in the global lupus therapeutics market include Hikma Pharmaceuticals Plc, Dr. Reddy's Laboratories Ltd, GlaxoSmithKline, Novartis AG, Sanofi, ImmuPharma, Bayer, Aurinia Pharmaceuticals, Pfizer Inc, Astra Zeneca, MedImmune, F.Hoffmann-La Roche, Bristol Myers Squibb Company, Teva Pharmaceutical Industries Ltd, Boehringer Ingelheim International Gmbh, among others. To gain a significant market share in the global lupus therapeutics market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. F.Hoffmann-La Roche and Boehringer Ingelheim International Gmbh are some of the biggest players in the global lupus therapeutics market.

Biologics segment is leading the market and is forecasted to grow at the highest CAGR of 7.2% over the projected timeframe

Based on drug classes, the global market has been divided into immunosuppressants, corticosteroids, NSAIDs, antimalarials, and biologics. The biologics segment is leading the market and is forecasted to grow at the highest CAGR of 7.2% over the projected timeframe. The launch of novel biologics like Benlysta & Rituximab with higher efficacy is expected to boost the segment growth. Benlysta is used for moderate SLE (Systemic Lupus Erythematosus); however, its safety and efficacy are still doubtful for severe Lupus. Rituximab, on the other hand, has  not shown any side effects like immunosuppressants & corticosteroids do.

Oral dominated the market and held the largest market share of 38.19% in the year 2020

On the basis of route of administration, the lupus therapeutics market has been segmented into subcutaneous, oral, and intravenous. The oral segment dominated the market and held the largest market share of 38.19% in the year 2020. The oral segment is made up of small molecule drugs, which are considered the mainstream treatment for Lupus, and they are also easily administered. The second-largest share of the market was held by the intravenous segment in the same year.

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Regional Segment Analysis of the Lupus Therapeutics Market

On the basis of geography, the global lupus therapeutics market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 45.92% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as developed healthcare infrastructure, the higher number of SLE cases, easy availability of specialty drugs, better accessibility to biologics, good reimbursement scenario, developments in diagnostics procedure, and recent & near future approval of new drugs. Following North America, Europe held the second-largest regional market share in 2020 owing to the greater adoption of belimumab, supportive coverage policies, and multiple European countries such as Spain, Germany, U.K., France, and Italy giving approval to Benlysta for active SLE treatment. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2021-2028. This growth is owing to factors like advancing medical science, increasing population growth, and rising income. Emerging economies like India, Brazil, and China are especially lucrative, considering their growth potential.

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About the report: 

The global lupus therapeutics market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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