Leukocytoclastic Vasculitis Market Will Gain from Increasing Demand for Biosimilars: Fact MR Study
Increasing cases of blood vessel inflammatory diseases is the key factor responsible for the growth of the global leukocytoclastic vasculitis market.
As per a study by Fact MR, rising cases of chronic ailments will result in high demand in the leukocytoclastic vasculitis market. Minimally invasive procedures are required for the treatment of chronic and circulatory diseases like peripheral arterial disease (PAD).
Leukocytoclastic vasculitis therapy has emerged as an effective treatment that is aimed at minimizing the inflammation in the affected blood vessels. Growth opportunities are abound in the market with the increasing availability of innovative, high quality and cost effective treatments, finds Fact MR in a new study.
Leukocytoclastic vasculitis (LCV) are hypersensitive vasculitis associated with small blood vessel inflammation. It can occur as a result of systemic autoimmune diseases, chronic infections, and malignancies. LCV can be triggered by Staphylococcus aureus, Mycobacterium, Neisseria, Chlamydia, and HIV.
The treatment of leukocytoclastic vasculitis varies depending on the symptoms, causes, and affected areas. The proven effective treatments of Leukocytoclastic vasculitis are prednisone, pentoxifylline, cyclophosphamide, andazathioprine. Hence accurate treatment selection is necessary to treat leukocytoclastic vasculitis disease.
The rising focus on better clinical outcomes has been creating demand for biosimilars in the market. As per the study, biosimilars will emerge as the leading drug type over the forecast period. Recent approvals by the U.S. Food and Drug Administration (USFDA) will result in slew of biosimilar launches, creating growth opportunities for the market.
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The COVID-19 pandemic created challenges for the treatment of chronic care patients. Patients taking immunosuppressant are considered more vulnerable to infection of COVID-19. It has impacted on the supply chain of leukocytoclastic vasculitis. This will impede the growth of leukocytoclastic vasculitis market.
"Patients with mild leukocytoclastic vasculitis are often treated with anti-inflammatory drugs, such as ibuprofen acetaminophen, aspirin, or naproxen. Considering this, rising demand for aforementioned drugs will have a positive impact on the market for leukocytoclastic vasculitis," Fact MR analyst.
- Asia Pacific will emerge as a key market due to rising demand among geriatric population suffering from chronic diseases associated leukocytoclastic vasculitis.
- Presence of key players such as Celgene Corporation and Bristol Myers Squibb Co, will drive growth in North America
- The demand for biosimilars will increase for the treatment of LCV
- Rising cases of autoimmune disease will fuel demand for LCV treatment in the coming years
- The increasing population and growing healthcare expenditure across the world will fuel demand for leukocytoclastic vasculitis treatment.
- Investment in research and development programs to launch advance technologies such as Magnetic Resonance Imaging Magnetic Resonance Angiography (MRIMRA) devices will aid the expansion of leukocytoclastic vasculitis market.
- Lack of awareness about Leukocytoclastic vasculitis and associated treatment among is the key factor hampering growth in global leukocytoclastic vasculitis market.
- Stringent regulatory approvals required launching drugs and high cost of biosimilars process will restraint the leukocytoclastic vasculitis market over the coming years.
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Key players are adopting key strategies for the expansion in the global leukocytoclastic vasculitis market. For instance:
- In 2020, the U.S. Food and Drug Administration (FDA) gave approval to Amgen’s RIABNI(rituximab-arrx) as a biosimilar to Rituxan (rituximab)to treat geriatric patients suffering from Granulomatosis Polyangiitis (GPA) and Microscopic Polyangiitis (MPA)
- Intract Pharma developed World's first oral indliximab with collaboration agreement of Celltrion and also launched REMSIMA SC (infliximab) in Europe to treat geriatric patients suffering from GPA and MPA.
Other key players operating in the market are Hoffman La Roche Ltd., GlaxoSmithKline Plc, Baxter International, Eli Lilly & Company, AstraZeneca, Teva Pharmaceuticals, Novo Nordisk A/S, Daiichi Sankyo, Bristol Myers Squibb Company, ChemoCentryx, Celgene Corporation, Merck & Co, and Goodwin Procter LLP among others.
More Insights on the Global Leukocytoclastic Vasculitis Market
Fact MR, in its new offering brings to fore an unbiased analysis of the global leukocytoclastic vasculitis, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the Leukocytoclastic Vascullitis based on drug type (Biosimilars, Rituximab, Infliximab, Adalimumab, Corticosteroids, Immunosuppressive Agent, NSAIDs, Colchicine, Sulfones, Dapsone) and based on the indication (infections, malignancy, connective tissue disease, Autoimmune disease) across the regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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Key Questions Covered in the Report
- How will the Leukocytoclastic Vasculitis Market expand?
- Which top manufacturing companies are leading the global Leukocytoclastic Vasculitis market?
- What are the key drivers and trends that will stimulate the Leukocytoclastic Vasculitis sales?
- What are the restraints that will affect the sales of the Leukocytoclastic Vasculitis Market?
- What is the impact of Covid-19 on the Leukocytoclastic Vasculitis market?
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