Immunosuppressant Drugs Market, 2022-2028 - Industry Applications,Market Share, Segmentation, Company Share: Coherent Market Insights | Novartis AG, Accord Healthcare, AstellaPharma, Watson Pharmaceuticals,

Immunosuppressant Drugs Market Continues To Grow With Growing Cases Of Autoimmune Diseases And Organ Failure

Overview:

Although the use of immunosuppressant drugs is widely accepted, they may not always be covered by private insurance plans. These drugs can make people more susceptible to infections, including foodborne illnesses, bug bites, and environmental hazards. Recent measles outbreaks are one such example. Immunosuppressant drugs can also increase the risk of difficult-to-treat infections like pneumonia. Each plan will have its own deductible, copay, and coinsurance, as well as a formulary of approved drugs. Moreover, private insurance plans will have varying coverage levels, and the list of approved drugs can change from year to year.

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Market Dynamics:

Growing cases of autoimmune diseases, increasing organ failure incidences and the growing need for organ transplantation is expected to propel growth of the global immunosuppressant drugs market. The demand for immunosuppressant drugs is increasing as the cases of autoimmune diseases and organ failure are increasing. For instance, according to the Global Burden of Disease (GBD) 2019 methodology, psoriasis, an autoimmune disease affected 4,622,594 people all over the world and the age-standardized incidence rate of psoriasis was 57.8 per 100,000 people.

However, high cost of procedure and lack of donor organs is expected to hinder growth of the global immunosuppressant drugs market over the forecast period.

Impact of COVID-19:

The epidemic of COVID-19 impacted several industries all over the world. After the virus outbreak many countries implemented stringent rules and regulations to control the virus spread. Rapidly increasing cases of COVID-19 increased the burden on hospitals and medical institute due to which non-emergency procedures such as transplants were kept on hold in order to prevent further COVID-19 infection in patients. Thus, the demand for immunosuppressant drugs also declined during the pandemic, which further adversely affected growth of the global immunosuppressant drugs market. However, the pandemic situation going back to normal is expected to aid in growth recovery of the market.

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Key Takeaways:

• The global immunosuppressant drugs market is estimated to grow, with a CAGR of XY% over the forecast period, due to increasing technological development in tissue engineering and organ transplantation. For instance, in July 2021, researchers at University of Birmingham demonstrated the viability of 3D printed tissue scaffolds that harmlessly degrade and promotes tissue regeneration after implantation.

• North America is anticipated to witness significant growth in the global immunosuppressant drugs market over the forecast period, owing to rising cases of auto-immune diseases, growing organ failure cases including liver and kidney failure in the region.

• Major players active in the global immunosuppressant drugs market are Sanofi S.A., Astellas Pharma, Inc., Pfizer, Inc., Bristol Myers Squibb, Novartis AG, F. Hoffmann La Roche Ltd., Mylan Laboratories Inc., GlaxoSmithKline Plc., Johnson & Johnson, and Intas Pharmaceuticals Ltd.

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This release was published on openPR.