by Sjogren’s syndrome Market comprises drugs used for the treatment of sicca symptoms like dry eyes and dry mouth caused due to decreased tear and saliva production respectively. The condition is prevalent among middle-aged women and drugs help alleviate the discomfort caused by dryness.
The global Sjogren’s syndrome Market is estimated to be valued at US$ 242.81 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The increasing prevalence of Sjogren’s syndrome driven by rising geriatric population base prone to autoimmune disorders is a major factor propelling the growth of global Sjogren’s syndrome Market. It is estimated that around 4 million Americans suffer from Sjogren’s syndrome annually with 90% being females above the age of 40 years. Rise in the pool of patients therefore enhances the demand for drugs easing the symptoms of dry eyes and mouth associated with the condition.
SWOT Analysis
Strength: The increasing availability of various treatments and early diagnosis gives strength to the market. Availability of various awareness programs conducted by government and non-government organizations also strengthen the market.
Weakness: Lack of awareness about the disease among patients and healthcare providers is a major weakness. Misdiagnosis due to similar signs and symptoms of other diseases also hinders the market growth.
Opportunity: Increasing healthcare expenditure in emerging economies creates lucrative opportunities. Development of novel treatment options and diagnostic tools by key players will further create opportunities.
Threats: High cost associated with treatments and diagnostics poses major threat. Unfavorable reimbursement policies especially in developing countries also threaten the market growth.
Key Takeaways
The global Sjogren’s Syndrome Market Share is expected to witness high growth. The global Sjogren’s syndrome Market is estimated to be valued at US$ 242.81 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the market and is expected to maintain its dominance during the forecast period. Higher healthcare expenditure and presence of major players in the region drives the North America market. Asia Pacific region is anticipated to witness fastest growth owing to increasing geriatric population, rising disposable incomes, and growing penetration of healthcare services in the region.
Key players: Key players operating in the Sjogren’s Syndrome market are Abcam plc, Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., BD Biosciences, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., BioLegend, Inc., Merck KGaA, Novus Biologicals, LLC, R&D Systems, Inc. (a Bio-Techne brand), Santa Cruz Biotechnology, Inc., Beckman Coulter, Inc., Miltenyi Biotec GmbH, GeneTex, Inc., MBL International Corporation. These key players are focusing on new product launches, collaborations, and expansion to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
