Rockville, MD, Nov. 12, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global Cryoglobulinemic vasculitis market is estimated to reach a valuation of US$ 477.2 million in 2024 and is expected to grow at a CAGR of 6.9% during the forecast period of (2024 to 2034).
The global cryoglobulinemic vasculitis (CV) market is primed for transformational growth due to innovative therapies, strategic collaborations, and enhanced comprehension of the complicated nature of the disease. Cryoglobulinemic vasculitis is a rare disease where small blood vessels are involved with chronic or acute inflammation. It is an immune complex-mediated rare disease with systemic symptoms if not treated at early stages causes skin ulcers, neuropathy, and kidney impairment. Indeed, the management of CryoVas has just recently started to include targeted biologics and is considerably improving outcomes for patients. This will continue to alter market dynamics in the coming years.
The big pharmaceutical manufacturers have focused more on biologic innovations addressing unmet CryoVas needs in the past two years. Roche is a global leader, with its monoclonal antibody Rituxan, which already gave consistent efficiency in the treatment of serious cases of CryoVas resistant to antiviral therapy for hepatitis C-related vasculitis. For instance, according to one clinical trial from 2023, long-term success with rituximab is underlined in flare-up reduction and improvement of the quality of life among the patients. Amgen is gearing up to seek similar therapies in CryoVas treatment as part of its larger immunology portfolio.
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Further, drivers of market growth include unmet needs and extension of market reach. Several factors have interplayed to contribute to the growth of the CryoVas market, with chief contributions from a rise in cases of autoimmune diseases globally and increased prevalence in hepatitis C cryoglobulinemia, which is a key driver for CryoVas incidence. New drug development, especially transition in the area of biologic therapies and Immunomodulators has given personalized treatments to patients which were not available in the past.
This has been further fuelled by increasing investments in research and growing awareness among healthcare providers. Biopharmaceutical companies are continuously seeking strategic partnerships with institutions engaged in research as part of their bid to identify new mechanisms and pathways in CryoVas. This aims at ensuring accelerated drug discovery, particularly for refractory and severe CryoVas conditions that have been notoriously very difficult to treat conventionally.
One such example of this is the collaboration of GlaxoSmithKline with academic institutions in researching new biologic agents for small-vessel vasculitis. Although this alliance is still in its infancy, it is expected to return promising new therapies before the year 2025 and give hope to patients who do not respond to current treatments associated with the disease process.
Key Takeaways from the Market Study
- The global cryoglobulinemic vasculitis market is projected to grow at 9% CAGR and reach US$ 930.1 million by 2034
- The market created an Incremental $ opportunity of US$ 46.3 million growing at a CAGR of 8% between 2019 to 2023
- North America is a prominent region that is estimated to hold a market share of 1% in 2024
- Predominating market players include GlaxoSmithKline and Amgen.
- Mixed cryoglobulinemia (type II & type III) under type segment are estimated to grow at a CAGR of 2% creating an incremental $ opportunity of US$ 274.2 million between 2024 and 2034
“Strategic Alliances and Technological Advancements will Attract Global Leaders and Laggards to Invest in Research and Development Activities to Overcome Diseases Burden in Developing Regions,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cryoglobulinemic Vasculitis Market:
Key industry participants like Teva Pharmaceutical Industries Ltd.; GlaxoSmithKline plc; Emcure Pharmaceuticals; Apotex Inc.; Pfizer Inc.; Novartis AG; Biogen Inc.; Roche Holding AG; Mylan N.V.; Hikma Pharmaceuticals PLC; Aspen Biopharma Labs Pvt Ltd; Stason Pharmaceuticals; Zhejiang Xianju Pharmaceutical Co., Ltd., etc. are driving the cryoglobulinemic vasculitis industry.
Market Development
Besides the treatment modalities, technological advancements are also improving diagnostic tools. Early and accurate diagnosis of CryoVas is important for better patient outcomes; these advanced healthcare infrastructures are providing clinicians with unprecedented capabilities to diagnose conditions earlier and more effectively. This in turn fosters the early initiation of targeted therapies necessary to prevent disease progression and reduce the risk of complications such as kidney failure.
The market of cryoglobulinemic vasculitis aims to tap the mentioned developments by targeting specific and measurable goals of growth in the next five years. These include reaching out to hitherto untouched regional markets, aggressively launching products into the market to enhance market share, and encouraging innovation through research and development.
The incidence of hepatitis C is high in developing regions like Asia-Pacific, the market is set to show considerable growth in these regions as hepatitis C is a key driver for CryoVas manifestation. Companies such as Amgen and Roche are actively seeking to increase their presence in these markets through local partnerships and regulatory approvals. The market is expected to introduce at least three new biologic therapies by 2028 to treat hepatitis C-associated and non-hepatitis C-associated CryoVas cases. As pharmaceutical companies continue to develop innovative products that undertake pre-clinical studies & clinical trials to provide effective alternatives to solutions in disease management is likely to lift the global market share in coming years.
Biopharmaceutical companies will continue to form strategic deals & agreements with research & academic institutions as well as biotechnology organizations to hasten the development of cutting-edge therapies. These partnerships will help fuel drug discovery and expedite the sufficient time for new treatments in the market.
- In September 2024, Amgen completes the acquisition of ChemoCentryx manufacturer of (TAVNEOS) avacopan. These strategies mark Amgen's position in the autoimmune disease space, which hints at Amgen’s commitment to chase new indications for TAVNEOS, including potentially cryoglobulinemic vasculitis. Avacopan received FDA approval in October 2021 for ANCA-associated vasculitis, but plans for Amgen are to capitalize on this success and explore the use of avacopan in cryoglobulinemic vasculitis, given the similarity in autoimmune pathways.
- In June 2022, GlaxoSmithKline announced a strategic collaboration with academic institutions to study new biologic agents for autoimmune diseases as well as cryoglobulinemic vasculitis. These partnerships would come up with novel treatment solutions until 2025 to bridge an important gap in therapies for CryoVas.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global cryoglobulinemic vasculitis market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the by treatment type (antiviral medications, immunosuppressive drugs, biologic drugs, and plasmapheresis), by route of administration (oral and intravenous), by type (type I cryoglobulinemia and mixed cryoglobulinemia (type II & type III)), by age group (children, adults, and geriatric), by distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, and mail order pharmacies) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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