The global eosinophilia therapeutics market is expected to garner a market value of USD 413 Million in 2023 and is expected to accumulate a market value of USD 739.62 Million by registering a CAGR of 6% in the forecast period 2023 to 2033.
Growth of the eosinophilia therapeutics market can be attributed to growing prevalence of Eosinophilia across the globe and availability of different treatments. The market for eosinophilia therapeutics registered a CAGR of 3.3% in the historical period 2018 to 2022
Eosinophilia therapeutics refers to the treatment of eosinophilic disorders, which are a group of diseases characterized by an abnormal increase in eosinophils, a type of white blood cell. The eosinophilia therapeutics market includes drugs, treatments, and therapies that are used to manage and alleviate the symptoms of eosinophilic disorders. These disorders can affect various parts of the body, including the skin, respiratory system, gastrointestinal tract, and others. The increasing prevalence of eosinophilic disorders and the growing demand for targeted and personalized treatments are driving the growth of the eosinophilia therapeutics market.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 413 Million |
| Anticipated Forecast Value (2033) | USD 739.62 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Eosinophilia therapeutics reflected a value of 3.3% during the historical period, 2018 to 2022.
The eosinophilia therapeutics market experienced significant growth from 2018 to 2022, driven by factors such as the increasing prevalence of eosinophilic disorders, growing awareness and increased diagnosis, and the approval of new and innovative drugs for the treatment of eosinophilic disorders. The increasing focus on research and development, coupled with favorable reimbursement policies in several countries, also contributed to the growth of the market.
The high cost of treatments and the lack of FDA-approved drugs for the treatment of eosinophilic disorders were some of the challenges faced by the market during this period. Despite these challenges, the market continued to grow and is expected to continue its growth trajectory in the coming years.
Thus, the market for Eosinophilia therapeutics is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Increasing awareness of Eosinophilia driving market growth
Rising prevalence of eosinophilic disorders such as eosinophilic asthma, eosinophilic gastroenteritis, and eosinophilic esophagitis are the key factors increasing the dependability on therapeutics. In addition, growing awareness and increased diagnosis of eosinophilic disorders is positively influencing the demand for Eosinophilia therapeutics market.
Furthermore, approval of new and innovative drugs for the treatment of eosinophilic disorders is shaping the landscape for Eosinophilia therapeutics market. Rising demand for targeted and personalized treatments for different patients along with growing investments in research and development of eosinophilia therapeutics is spurring the growth of the market.
Favorable reimbursement policies and increasing healthcare expenditure is making the treatment for Eosinophilia accessible to patients. Moreover, key market players are focusing on expanding their product portfolios. This, in turn, is creating lucrative opportunities for Eosinophilia therapeutics market.
Availability of treatments spurring the growth of Eosinophilia therapeutics market
Research and development by healthcare professionals and key players is increasing the overall therapeutics options for patients suffering from Eosinophilia. This, in turn, has created opportunities for patients and doctors alike to experience different treatments.
Corticosteroids: These drugs are used to reduce inflammation and suppress the immune system.
Biologic drugs: These drugs are used to target specific proteins involved in eosinophil production and survival. Examples include mepolizumab, reslizumab, and benralizumab.
Small molecule drugs: These drugs target specific enzymes involved in eosinophil survival and activation. An example is approved small molecule drug is pyrinodine.
Allergen-specific immunotherapy: This treatment involves exposing patients to increasing amounts of allergens to reduce sensitivity and decrease eosinophil activation.
Traditional immunosuppressants: These drugs are used to suppress the immune system, such as cyclosporine.
Leukotriene modifiers: These drugs target the leukotriene pathway, which is involved in the production of eosinophils. An example is montelukast.
Antihistamines: These drugs are used to block histamine, a chemical that triggers eosinophil activation.
Expensive nature of treatment derailing Eosinophilia therapeutics Market growth
A limited number of FDA-approved drugs for the treatment of eosinophilic disorders is restricting the market growth. In addition, the cost of eosinophilia therapeutics is high, which makes it difficult for patients to afford the treatment.
Inadequate reimbursement policies for eosinophilia therapeutics in some countries is hindering the overall market growth. Moreover, lack of awareness about eosinophilic disorders and their treatment options is a challenge for the market. The side effects associated with eosinophilia therapeutics can limit their usage and adoption.
Furthermore, presence of alternative treatments for eosinophilic disorders, such as corticosteroids, can pose a challenge to the market. All these factors are expected to derail the progress of eosinophilia therapeutics market.
Presence of key players fostering growth of eosinophilia therapeutics market
North America is a significant market for eosinophilia therapeutics and is expected to experience growth in the coming years. The market growth is driven by factors such as the increasing prevalence of eosinophilic disorders, growing awareness and increased diagnosis, and the approval of new and innovative drugs for the treatment of eosinophilic disorders.
The United States is a major contributor to the growth of the North American eosinophilia therapeutics market due to the presence of a large patient population, high healthcare expenditure, and favorable reimbursement policies.
The presence of key market players and the growing focus on research and development are also contributing to the growth of the market in North America. Thus, North America is expected to procure 43% market share for eosinophilia therapeutics market.
Reimbursement policies favoring Eosinophilia therapeutics market in Europe
The Europe eosinophilia therapeutics market is expected to grow in the coming years due to the increasing prevalence of eosinophilic disorders, growing awareness and increased diagnosis, and the approval of new and innovative drugs for the treatment of eosinophilic disorders. Europe has a large patient population and a well-developed healthcare system, which is expected to drive the market growth.
The presence of key market players and the growing focus on research and development are also contributing to the growth of the market in Europe. In addition, favorable reimbursement policies in several countries in Europe are expected to support market growth.
However, the high cost of treatments and lack of FDA-approved drugs for the treatment of eosinophilic disorders can pose a challenge to market growth in Europe. Thus, Europe is expected to possess 38% market share for eosinophilia therapeutics market.
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Lower prices of drugs and therapies increasing dependability on hospital pharmacies
Hospital pharmacies provide easy access to a wide range of drugs and therapies for patients, eliminating the need to visit multiple retail pharmacies. Hospital pharmacies are staffed by trained pharmacists who are able to provide quality care and support to patients with complex medical conditions, such as eosinophilia.
By having access to a wider range of drugs and therapies, hospital pharmacies are able to offer more effective treatments to patients, leading to improved patient outcomes.
Hospital pharmacies are integrated with the wider healthcare system, which can help to streamline the delivery of care and reduce waste. By leveraging their purchasing power, hospital pharmacies are often able to negotiate lower prices for drugs and therapies, providing cost-effective care to patients. Thus, hospital pharmacies are expected to procure 45% market share for eosinophilia therapeutics market.
Key players in the eosinophilia therapeutics market are GlaxoSmithKline plc, Sanofi, Takeda Pharmaceutical Company Limited, Hoffmann-La Roche Ltd, Pfizer Inc, Novartis AG, Merck & Co., Inc, Eli Lilly and Company, AstraZeneca, Bayer AG, Gilead Sciences, Inc, Regeneron Pharmaceuticals, Inc., Cipla Inc.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 413 Million |
| Market Value in 2033 | USD 739.62 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Drug Class, Type, Route of Administration, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; MEA |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | GlaxoSmithKline plc; Sanofi; Takeda Pharmaceutical Company Limited; Hoffmann-La Roche Ltd; Pfizer Inc.; Novartis AG; Merck & Co., Inc.; Eli Lilly and Company; AstraZeneca; Bayer AG; Gilead Sciences, Inc.; Regeneron Pharmaceuticals, Inc.; Cipla Inc. |
| Customization | Available Upon Request |
The market is forecast to record a CAGR of 6.0% through 2033.
The market is valued to attain USD 739.62 Million by 2033.
The market is estimated to secure a valuation of USD 413 Million in 2023.
Eosinophilia awareness encourages market expansion.
The cost of the medicine is impeding market expansion
| Estimated Market Size (2024E) | USD 37.5 billion |
|---|---|
| Projected Market Value (2034F) | USD 112.8 billion |
| Value-based CAGR (2024 to 2034) | 11.7% |
| Market Value for 2023 | USD 15,246.7 million |
|---|---|
| Projected Market Value for 2033 | USD 30,318.5 million |
| Value-based CAGR of Market for 2023 to 2033 | 7.1% |
| Expected Market Value (2023) | USD 147.9 Million |
|---|---|
| Projected Forecast Value (2033) | USD 412.4 Million |
| CAGR (2023 to 2033) | 10.8% |
| Expected Market Value (2023) | USD 1.2 Billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 3.72 Billion |
| Projected CAGR (2023 to 2033) | 12% |
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Eosinophilia Therapeutics Market
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