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."
The analyst added that Roche's Actemra, BMS's Orencia and GSK's Nucala are anticipated to be the most successful of the new vasculitis treatment market entrants, as they have demonstrated strong efficacy and safety in clinical trials. Despite this, there will be barriers preventing the vasculitis market from reaching its full growth potential during the forecast period.
Mr Annis continued, "The high cost of biologics will limit their uptake, especially in cost-conscious markets that are facing austerity measures. Cheaper biosimilars will challenge established brands.
"In addition, there will be challenges in gaining reimbursement of biologics approved as induction therapies for use as maintenance therapies, such as Rituxan."
