Global Dermatomyositis Drug Market, by Drug Type (Corticosteroids, Immunosuppressive Agents, and Others), by Route of Administration (Oral, Topical, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) is estimated to be valued at US$ 773.7 Mn in 2022 and is expected to exhibit a CAGR of 4.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in the market include key companies in the market focusing on research and development for the treatment of dermatomyositis which is expected to drive the growth over the forecast period. For instance, in May 2022, Kezar Life Sciences, Inc., a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, announced topline results from the PRESIDIO Phase 2 clinical trial of zetomipzomib (KZR-616) in patients with dermatomyositis (DM).
Global Dermatomyositis Drug Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. An April 2020 study for The Impact of COVID-19 on Clinical Trial Sites conducted by Medidata, a life sciences software provider that supports clinical trials with a primary focus on evidence generation, suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the pandemic, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 have identified persistent impact of COVID-19 pandemic, with over 60% reporting an average or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment. Recently, the U.S. FDA guidance (March 2020 and updated July 2020) acknowledged that the impact of COVID-19 may require companies conducting clinical trials to consider virtual patient visits or put new processes in place of current protocols. Therefore, there are now more opportunities for using remote healthcare including conducting virtual or decentralized trials, site-less clinical trials, and use of other non-traditional approaches that do not involve in-person visits.
Browse 28 Market Data Tables and 32 Figures spread through 166 Pages and in-depth TOC on “Global Dermatomyositis Drug Market”- Forecast to 2030, Global Dermatomyositis Drug Market, by Drug Type (Corticosteroids, Immunosuppressive Agents, and Others), by Route of Administration (Oral, Topical, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Dermatomyositis Drug Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/dermatomyositis-drug-market-5333
Moreover, increasing the prevalence of dermatomyositis which is also expected to aid in the growth of the global dermatomyositis drug market over the forecast period. For instance, according to data published by National Center for Biotechnology Information in March 2022, stated that incidence rates of ~7.5/1,000,000 person-years and 1.2/1,000,000 person-years were estimated for dermatomyositis (DM) in Africa in 2020.
Key Takeaways of the Global Dermatomyositis Drug Market:
- The global dermatomyositis drug market is expected to exhibit a CAGR of 4.3% during the forecast period due to increasing inorganic growth strategies by key players for the treatment of dermatomyositis which is expected to boost the growth of the market. For instance, in February 2017, Neovacs, a leader in active immunotherapy for the treatment of autoimmune diseases, announced that it had signed with BioSense Global LLC is a biopharmaceutical company, a commercial license option agreement for its IFNα Kinoid vaccine to treat lupus and dermatomyositis in China, worth up to €65 (US$ 66) million in upfront and milestone payments, not including double-digit sales royalties.
- Among Distribution Channel, Hospital Pharmacy segment is estimated to hold a dominant position in global dermatomyositis drug market over the forecast period owing to increasing hospitalization associated with dermatomyositis. For instance according to data published by American College of Rheumatology in November 2019, a total number of 160,528 hospital admissions of patients with a diagnosis of dermatomyositis occurred in the 2019 in the U.S. The mean age was 58.0 years and 68.7% were female.
- Among regions, Asia Pacific estimated to exhibit largest CAGR in the global dermatomyositis drug market over the forecast period owing increasing funding for dermatomyositis research. For instance, in July 2019, Australian National University receives US$10 million to investigate dermatomyositis from Jenny and Bruce Pryor
- Major players operating in the global dermatomyositis drug market are Pfizer Inc., Teva Pharmaceuticals USA, Inc., Hikma Pharmaceuticals PLC, Asahi Kasei Corporation., Octapharma USA, Healthcare Pharmaceuticals Limited., Zydus Cadila, Alkem Laboratories Ltd, Apotex Inc, 77Eli Lilly and Co, and F.Hoffman-La Roche Ltd
