Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Global Janus Kinase (JAK) Inhibitors Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global Janus Kinase (JAK) inhibitors market is poised for substantial expansion, with an anticipated increase from $14.61 billion in 2022 to $17.29 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 18.3%. Looking ahead, the market is expected to reach $33.38 billion in 2027, maintaining a robust CAGR of 17.9%.
The escalating prevalence of autoimmune diseases is set to be a pivotal driver for the continued growth of the Janus Kinase (JAK) inhibitors market. Notably, Psoriasis affects more than 8 million people in the United States and a staggering 125 million individuals worldwide, representing 2 to 3% of the global population.
Furthermore, Diabetes, a widespread condition, affects 28.7 million people of all ages in the United States, constituting 8.7% of the population. Within this group, 1.6 million people aged 20 and older have type 1 diabetes, requiring insulin. This surge in autoimmune diseases underscores the demand for JAK inhibitors in the healthcare landscape.
Innovative Product Solutions Fuel Market Trends
Product innovation is gaining prominence as a key trend in the Janus Kinase (JAK) inhibitors market. Major players are actively engaged in the development of technologically advanced solutions to maintain their competitive positions. In May 2022, Eli Lilly and Company, a US-based pharmaceutical giant, and Incyte, a Switzerland-based biopharmaceutical company, celebrated the approval of OLUMIANT (baricitinib) by the U.S. Food and Drug Administration (FDA).
This groundbreaking development marked OLUMIANT as the first and only FDA-approved JAK inhibitor for treating COVID-19 in hospitalized individuals who require varying levels of oxygen support. OLUMIANT is indicated for use in adult hospital patients with extracorporeal membrane oxygenation (ECMO), non-invasive or invasive mechanical ventilation, or COVID-19-induced respiratory distress.
Regional Insights
In 2022, North America held the distinction of being the largest region in the Janus Kinase (JAK) inhibitors market. However, looking forward, the Asia-Pacific region is expected to emerge as the fastest-growing area during the forecast period.
The regions covered in this report include:
- Asia-Pacific
- Western Europe
- Eastern Europe
- North America
- South America
- Middle East and Africa
Countries featured in the Janus Kinase (JAK) inhibitors market report are:
- Australia
- Brazil
- China
- France
- Germany
- India
- Indonesia
- Japan
- Russia
- South Korea
- UK
- USA
- Italy
- Spain
- Canada
Key Market Players
The Janus Kinase (JAK) inhibitors market comprises a roster of major players, including:
- Pfizer Inc.
- Merck & Co. Inc.
- AbbVie Inc.
- Novartis AG
- Sanofi SA
- Bristol Myers Squibb Co.
- GSK Plc.
- Takeda Pharmaceutical Company Ltd.
- Eli Lilly and Co.
- Gilead Sciences Inc.
- Boehringer Ingelheim Group
- Teva Pharmaceutical Industries Ltd.
- Astellas Pharma Inc.
- AstraZeneca PLC
- Mitsubishi Tanabe Pharma Corporation
- Incyte Corporation
- Kyowa Hakko Kirin Co. Ltd.
- Galapagos NV
- Sierra Oncology Inc.
- Dizal Pharmaceutical
- Reistone Biopharma Co. Ltd.
- CTI BioPharma Corp.
- Celon Pharma SA
- Theravance Biopharma Inc.
- Aclaris Therapeutics Inc.
- Alexion Pharmaceuticals Inc.
Acquisition Reshapes the Market
In January 2023, Sun Pharma Ltd., an India-based pharmaceutical company, executed the acquisition of Concert Pharmaceuticals Inc. for $576 million. This strategic move expanded Sun Pharma's portfolio by adding deuruxolitinib, a Janus kinase inhibitor used in the treatment of alopecia areata. Concert Pharmaceuticals Inc., a US-based biotech company, specializes in the development of Janus kinase (JAK) inhibitors.
Conclusion
In conclusion, the Janus Kinase (JAK) inhibitors market is on a trajectory of rapid growth, driven by the increasing prevalence of autoimmune diseases and a surge in technological innovations in JAK inhibitor solutions. While North America dominated the market in 2022, the Asia-Pacific region is poised for significant growth in the coming years. Strategic acquisitions, such as Sun Pharma's purchase of Concert Pharmaceuticals, continue to reshape the competitive landscape, underscoring the dynamic and expanding nature of the industry.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $17.29 Billion |
| Forecasted Market Value (USD) by 2027 | $33.38 Billion |
| Compound Annual Growth Rate | 17.9% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Janus Kinase (JAK) Inhibitors Market Characteristics
3. Janus Kinase (JAK) Inhibitors Market Trends and Strategies
4. Janus Kinase (JAK) Inhibitors Market - Macro Economic Scenario
4.1. Impact of High Inflation on Online Therapy Services Market
4.2. Ukraine-Russia War Impact on Online Therapy Services Market
4.3. COVID-19 Impact on Online Therapy Services Market
5.1. Global Janus Kinase (JAK) Inhibitors Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
5.2. Global Janus Kinase (JAK) Inhibitors Forecast Market Size and Growth, 2022 - 2027, 2032F, Value ($ Billion)
5.3. Global Janus Kinase (JAK) Inhibitors Market Drivers and Restraints
5.3.1. Drivers of the Market
5.3.2. Restraints of the Market
6. Janus Kinase (JAK) Inhibitors Market Segmentation
6.1. Global Janus Kinase (JAK) Inhibitors Market, Segmentation by Inhibitors Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Ruxolitinib
- Tofacitinib
- Oclacitinib
- Baricitinib
- Peficitinib
- Other Inhibitor Types
6.2. Global Janus Kinase (JAK) Inhibitors Market, Segmentation by Mode of Administration, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Injectable
- Oral
- Other Modes of Administration
6.3. Global Janus Kinase (JAK) Inhibitors Market, Segmentation by Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
6.4. Global Janus Kinase (JAK) Inhibitors Market, Segmentation by Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Autoimmune Disorders
- Oncology
- Inflammatory Disorders
- Metabolic Disorders
7. Janus Kinase (JAK) Inhibitors Market Regional and Country Analysis
7.1. Global Janus Kinase (JAK) Inhibitors Market, Split by Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Janus Kinase (JAK) Inhibitors Market, Split by Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/kevxzr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
