Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Systemic Lupus Erythematosus (SLE) Market (by Product Type, Route of Administration, End User, & Region): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.
The global SLE market is projected to reach $2.18 billion by 2023, with a Compound Annual Growth Rate (CAGR) of 7.52% during the forecast period.
Systemic Lupus Erythematosus (SLE) is a complex autoimmune disease that affects multiple organs and systems within the body. It involves the immune system mistakenly attacking the body's own tissues, leading to inflammation and tissue damage in various organs. Common symptoms of SLE include swollen joints, fever, chest discomfort, hair loss, mouth ulcers, enlarged lymph nodes, severe fatigue, and a characteristic red rash on the face.
The SLE market has been historically underserved with limited viable therapy options available worldwide. Currently approved biologic therapies for SLE include GSK's Benlysta, Astra Zeneca's Saphnelo, and RemeGen's telitacicept. However, due to the significant unmet medical need in this field, the market is expected to grow in the coming years.
The market is segmented by product type, route of administration, and end-user:
- Product Type: The market is segmented into six categories, with biologics being the leading segment. Biologics are favored due to their efficacy and safety profile, especially in pregnant women. This segment is expected to grow at the highest CAGR.
- Route of Administration: Three segments are based on the route of administration, with the oral segment holding the majority share. Oral administration is preferred for its convenience, safety, and cost-effectiveness.
- End User: The market is divided into three segments, with hospitals dominating due to initiatives by governments and some hospitals providing free treatment to SLE patients.
Geographically, North America leads the market, followed by regions like Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America's dominance is attributed to the increasing prevalence of lupus and the presence of major players in the region. The Asia Pacific region is emerging due to the adoption of cloud-based solutions.
Key Factors Impacting the SLE Market:
Growth Drivers:
- Increasing Healthcare Expenditure
- Rising Female Population
- Favorable Government Initiatives
- Rising Prevalence of SLE Disease
Challenges:
- Stringent Regulatory Environment
- High Cost of Drug Development
Trends:
- Rising Clinical Trials
- Adoption of Stem Cell Therapy
- Rising Awareness Among People
Key Players:
The global SLE market is fragmented, with key players including Novartis AG, Hoffmann-LA-Roche Ltd., Pfizer, Inc., AstraZeneca Plc, GlaxoSmithKline Plc, Merck & Co., Inc., AbbVie, Inc., Biotest AG, Sanofi, Boston Pharmaceuticals, UCB SA, RemeGen Co., Ltd., Amgen Inc., and Xencor, Inc.
Overall, while the SLE market faces challenges like regulatory hurdles and high development costs, it is being driven by increased healthcare spending, a growing population, government support, and rising awareness among people about the disease. These factors are expected to contribute to the market's growth in the coming years.
For more information about this report visit https://www.researchandmarkets.com/r/yof7m7
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