Cosentyx Drug Market provides an effective treatment option for psoriasis and psoriatic arthritis patients worldwide. Cosentyx inhibits interleukin-17A (IL-17A), a key inflammatory cytokine involved in the pathogenesis of psoriasis and psoriatic arthritis. The use of humanized monoclonal antibodies like Cosentyx provides targeted therapy with reduced adverse effects compared to conventional systemic therapies.
The global Cosentyx Drug Market is estimated to be valued at US$ 5.32 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Cosentyx Drug are Novartis AG. The company holds a monopoly in the market as Cosentyx is protected under patents until 2027.
The growing prevalence of psoriasis and psoriatic
arthritis across the globe is driving the Cosentyx Drug Market Demand for targeted biologics. According to estimates, around 125 million people worldwide suffer from psoriasis. Moreover, prevalence of psoriatic arthritis is also rising and affects around 30% of patients with psoriasis.
Technological advancements have enabled the development of humanized monoclonal antibodies with reduced immunogenicity and improved selectivity for pro-inflammatory cytokines. Biologics like Cosentyx inhibit specific cytokines like IL-17A rather than acting as broad immunosuppressants. This results in less adverse effects while providing satisfactory treatment outcomes.
Market Trends
Increased use of biologics as first line therapy - Accumulating evidence on efficacy and safety of biologics like Cosentyx Drug Market Size and Trends is resulting in increased use as first line therapy especially for moderate to severe cases.
Combination therapy gaining traction - Use of Cosentyx in combination with other drugs like methotrexate is showing improved outcomes for psoriatic arthritis. This trend is expected to boost market growth.
Market Opportunities
Growing patient pool in developing countries provides significant market potential. Companies are actively pursuing partnerships and regulatory approvals to expand geographic footprints.
Technological advancement in drug delivery systems can help improve adherence. Novel formulations like subcutaneous injections can offer added convenience to patients.
Impact of COVID-19 on Cosentyx drug market growth
The COVID-19 pandemic severely impacted the Cosentyx drug market. During the initial lockdown phase, outpatient clinic visits reduced drastically affecting new patient enrollment and prescription volumes. Supply chain disruptions also affected drug production and distribution. However, pharmaceutical companies took necessary measures to ensure uninterrupted drug supplies. With lifting of lockdowns and reopening of healthcare facilities, the market is gradually recovering. Telemedicine emerged as an effective medium to continue treatment of chronic patients remotely.
Pharma companies are focusing on strengthening digital transformation and launching virtual care programs. They are educating patients and physicians about safe drug administration practices via online channels. The demand is expected to rise as new patient diagnosis and treatment resume post pandemic. However, the long term impact will depend on further waves and efficacy of vaccination programs. Sustained R&D investments into alternative drug formulations, targeted delivery mechanisms can help boost market resilience against future disruptions.
Geographical concentration of Cosentyx drug market
In terms of value, North America dominates the global Cosentyx drug market currently accounting for over 40% share. High disease prevalence, growing elderly population and timely drug approvals drive market growth in the region. Within North America, the US holds the leading position attributed to a well-established healthcare system and significant reimbursement coverage for biologics. Europe is the second largest regional market supported by rising government focus on rare disease treatment in countries like Germany, UK and France.
Fastest growing region for Cosentyx drug market
Asia Pacific region is poised to witness the fastest growth in the Cosentyx drug market during the forecast period. Factors such as rapidly developing healthcare infrastructure, surge in medical tourism and rising healthcare expenditures are fueling market expansion. Countries like China and India with their huge population bases and growing incidence of autoimmune disorders present high commercialization opportunities. Additionally, increasing generic drug approvals, entry of biosimilars and enhance product affordability will support market growth of Cosentyx drug in Asia Pacific.
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