COSENTYX DRUG MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

One of the major challenges for the global cosentyx drug market is development of biosimilar drugs which provide cheaper treatment options for patients. As biosimilars continue to enter the market, it will put pricing pressure on Cosentyx. The patent protection for Cosentyx is expected to start expiring in 2027 which could lead to the introduction of biosimilar versions. This will further intensify competition and may affect the sales revenue of Cosentyx. Another challenge is the requirement of continuous innovation. As patients keep trying different treatment options, the drug must improve efficacy and safety profile through ongoing research.

Market Opportunities – Geographic expansion into emerging markets

Geographic expansion into emerging markets presents a great opportunity for the Cosentyx drug market. Emerging economies in Asia Pacific and Latin America are expected to witness higher rates of immune-mediated inflammatory diseases such as psoriasis and ankylosing spondylitis in the near future due to rising life expectancy, changing lifestyles and diets.