Updated on 12 January 2016
The vasculitis treatment market in US and major European pharmaceutical markets are set to rise
Singapore: The vasculitis treatment market in US and major European pharmaceutical markets (France, Germany, Italy, Spain, and the UK) is expected to expand in value over the next decade, from under USD 342 million in 2014 to over USD558 million by 2024, at a compound annual growth rate (CAGR) of 5.1 percent, according to research and consulting firm GlobalData.
According to the company's report, the leading driver of this reasonably robust growth will be the anticipated launches of five biologics for the treatment of various forms of vasculitis, including Bristol-Myers Squibb's (BMS) Orencia, Johnson & Johnson's Remicade, GlaxoSmithKline's (GSK) Benlysta and Nucala, and Roche's Actemra.
Mr Alexandra Annis, analyst at GlobalData, said, "The regulatory approval of these drugs throughout the forecast period will introduce four novel mechanisms of action (MOAs) to the market, which will address current unmet needs well.
GlobalData believes the improved effectiveness and lack of inconvenient side effects that come with the introduction of these new MOAs offer exciting prospects for drug companies.
Mr Annis explained, "The approval of biologics has the potential to result in big profits for pharma, as the cost of using them to treat a patient with vasculitis surpasses USD16,000 per year. For this reason, vasculitis is an attractive area for label expansions."