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Organ Transplant Immunosuppressant Drugs Market 2024-2033
Organ Transplant Immunosuppressant Drugs Market
According to The Business Research Company's, The organ transplant immunosuppressant drugs market size has grown steadily in recent years. It will grow from $5.24 billion in 2023 to $5.42 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increased transplant procedures, improved healthcare infrastructure, research and development, global aging population, increasing awareness.
The organ transplant immunosuppressant drugs market size is expected to see steady growth in the next few years. It will grow to $6.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to emerging therapies, rising incidence of organ failures, personalized medicine, global health initiatives, international collaboration. Major trends in the forecast period include technological innovations, technological advancements, cost containment strategies, market consolidation and partnerships, increasing organ transplants.
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Market Drivers and Trends:
The increasing demand for organ transplantation will boost the organ transplant immunosuppressant drugs market. Organ transplantation is a surgical procedure in which a diseased or damaged organ in a person's body is replaced with a healthy organ from a donor. Organ transplantation is a life-saving procedure that replaces damaged or failed organs with healthy organs from a donor. Immunosuppressant drugs are essential to prevent the rejection of transplanted organs, which can lead to organ rejection. The availability and effectiveness of immunosuppressant drugs are essential for the success of organ transplantation. For instance, in 2021, as per the data from the Global Observatory on Donation and Transplantation (GODT), an international organization, 144,302 organs were transplanted annually in 2021, an 11.3% increase over 2020. Therefore, the increasing demand for organ transplantation will drive the organ transplant immunosuppressant drugs market forward.
Product innovation is a popular trend in the organ transplant immunosuppressant drugs market. Major companies operating in organ transplant immunosuppressant drugs focusing on developing innovative solutions, such as combination therapy, to sustain in the market. Combination therapy involving two or more immunosuppressant drugs is becoming more common, as it can provide greater immunosuppression while reducing the risk of side effects. For instance, in July 2021, the U.S. Food and Drug Administration (FDA), a federal agency of the Department of Health and Human service, approved Prograf for use in combination with other immunosuppressant drugs for the prevention of organ rejection in patients receiving kidney, liver, or heart transplants. Prograf is an immunosuppressant, which was initially licensed to prevent organ rejection in patients undergoing liver transplants, later approved to prevent organ rejection in patients receiving kidney and heart transplants as well.
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Major Key Players of the Market:
Astellas Pharma Inc.; F. Hoffmann-La Roche AG; Novartis AG; Accord Healthcare Limited; GlaxoSmithKline PLC; Pfizer Inc.; Sanofi S.A.; Alsachim a Shimadzu Group Company; Neovii Pharmaceuticals AG; Zydus Lifesciences Limited; Dr. Reddy's Laboratories Ltd.; Lupin Limited; Mylan N.V.; Strides Pharma Global Pte Ltd.; Asahi Kasei Corporation; Bristol-Myers Squibb Company; GSK PLC; Veloxis Pharmaceuticals A/S; Viatris Inc.; Janssen Pharmaceuticals Inc.; AbbVie Inc.; Hansa Biopharma AB; Wockhardt Ltd; Glenmark Pharmaceuticals Ltd.; Biocon Ltd.; Hikma Pharmaceuticals PLC; Teva Pharmaceutical Industries Ltd.; Cipla Ltd.; Sun Pharmaceutical Industries Ltd.; Aurobindo Pharma Limited; Intas Pharmaceuticals Limited; Alkem Laboratories Limited; Torrent Pharmaceuticals Limited
Organ Transplant Immunosuppressant Drugs Market 2024 Key Insights:
• The organ transplant immunosuppressant drugs market size will grow to $6.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%.
• Rising Demand For Organ Transplantation Drives Growth In The Immunosuppressant Drugs Market
• Innovative Combination Therapies Drive Advancements In The Organ Transplant Immunosuppressant Drugs Market
• North America was the largest region in the organ transplant immunosuppressant drugs market in 2023
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