The rising awareness of “granulomatosis with polyangiitis therapies” for is a key factor driving the global granulomatosis with polyangiitis treatment market, says Fortune Business Insights in a report, titled “Granulomatosis With Polyangiitis Treatment Market Size, Share and Global Trend By Drug Class (Steroids, Immunosuppressant), By Route of Administration (Oral, Intravenous), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies), Geography Forecast till 2026.”
The increasing R&D investments by key players is expected to aid the growth of the global granulomatosis with polyangiitis treatment market.According to the report, the rising prevalence of granulomatosis with polyangiitis is expected to boost the global granulomatosis with polyangiitis treatment market revenue during the forecast period.
For instance, according to the National Institutes of Health (NIH), granulomatosis with polyangiitis affects an estimated 3 per 100,000 individuals’ in the U.S.The report contains an exclusive set of data to benefit and enable companies to work on their strategies for the overall development. The report provides information regarding market drivers, new advancement and recent trends in the global granulomatosis with polyangiitis treatment market
Rising Awareness Regarding Granulomatosis With PolyangiitisWill Propel Growth
Regulatory approval for the combination therapy of Rituxan (Rituximab) and corticosteroids is expected to accelerate the growth of the global granulomatosis with polyangiitis treatment market. The rising awareness regarding the disease and its prevention will also augment growth of the global granulomatosis with polyangiitis treatment market.
furthermore, the approval from the FDA for the treatment of adult patients with Genentech is likely to create growth opportunities for the global granulomatosis with polyangiitis treatment market. For instance, the Food and Drug Administration (FDA) approved the update of the label, to include the follow-up treatment of adult patients with Genentech’s product offering of Rituxan (Rituximab) for the treatment of two rarer forms of vasculitis: Granulomatosis with Polyangiitis (GPA) and Microscopic Polyangiitis (MPA).
However, side effects of the treatment options such as the medication toxicity and the adverse effects of corticosteroids as well as regulatory and clinical hurdles are factors expected to hamper the growth of the global granulomatosis with polyangiitis treatment market during the forecast period.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Some Of The Major Companies That Are Present In The Global Granulomatosis with Polyangiitis Treatment Market are:
- Genentech, Inc.
- GlaxoSmithKline plc.
- Sonoma Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Antares Pharma
- Medac Pharma, Inc.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
Increasing Demand for Treatment Of Granulomatosis With Polyangiitis Will Stimulate Growth In North America
Geographically, the global Granulomatosis with Polyangiitis Treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America followed by Europe are the two largest markets for Granulomatosis with Polyangiitis Treatment at present and they are expected to account for a large proportion of the market during the forecast period. The first U.S. FDA approval for the treatment of Granulomatosis with Polyangiitis was Rituxan in combination with corticosteroids, which was approved by the FDA in the U.S. in 2011 and the further label update was approved in 2018. Asia Pacific is expected to grow at a significant rate during the forecast period. Japan is expected to provide the largest market opportunity for the market in Asia Pacific owing to the high prevalence of disease and also the diagnostic capacities in regions such as China and Japan.