Sulfasalazine Market Primed for Growth owing to Increasing Demand of Rheumatoid Arthritis Treatment

 
Sulfasalazine Market Trends

The sulfasalazine market has witnessed significant growth over the past few years owing to increasing prevalence of autoimmune and inflammatory diseases globally. Sulfasalazine is an anti-inflammatory drug used primarily in the treatment of rheumatoid arthritis and inflammatory bowel disease. It works by reducing inflammation and pain in joints and bowel. The drug is available in delayed-release tablets and powder form for oral administration. Its advantages over other anti-inflammatory drugs include minimal side effects, low cost, and prolonged disease remission.

The global sulfasalazine market is estimated to be valued at US$ 2.32 Bn in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the sulfasalazine market are Ophthotech Corporation, Aptamer Sciences, Inc., Novartis AG, NeoNeuro SAS, Aptagen LLC, Aptus Biotech S.L., AM Biotechnologies, LLC, Base Pair Biotechnologies, Vivonics Inc., CAGE Bio Inc., TAGCyx Biotechnologies Inc., AstraZeneca, GlyTech, Inc., GC Biopharma Corp., Achiko AG, Agilent Technologies, Inc., SomaLogic Operating Co., Inc., Amsbio, and IVERIC bio, Inc.

The key opportunities in the Sulfasalazine Market Trends include development of new delivery mechanisms to improve patient compliance and investments in research & development of sulfasalazine drug for new therapeutic indications.

Growing at a robust rate, the sulfasalazine market is expected witness global expansion aided by increasing per capita healthcare spends in emerging economies, entry of generic players, and strategic expansions by major brands.

Market Drivers

The primary driver boosting the growth of sulfasalazine market is rising prevalence of rheumatoid arthritis globally. As per estimates, nearly 1% of the worldwide population suffers from RA. Sulfasalazine is one of the first line prescriptions for treatment of mild to moderate cases of RA. Growing geriatric population susceptible to orthopedic diseases is another factor fueling the demand. Moreover, increasing healthcare access and affordable substitution of branded drugs by low cost generics in developing countries will significantly contribute to market revenues during forecast period.

PEST Analysis

Political: Regulations related to drug approval processes and intellectual property rights could impact the Sulfasalazine Market Size and Trends. Stringent norms and protection of patented drugs may influence industry dynamics.

Economic: Factors such as GDP growth, healthcare spending, and reimbursement scenarios determine the uptake of sulfasalazine drugs. Macroeconomic fluctuations impact spending abilities of patients.

Social: Growing awareness about inflammatory diseases and their treatment options influence market trends. Adoption rates depend on social perceptions of new drugs.

Technological: Advancements in drug delivery mechanisms, diagnostic techniques, and manufacturing practices support product innovation. Collaborations for development of combination therapies aid market progress.

Geographical Regions with High Market Concentration

North America accounts for a major share due to the region’s advanced healthcare infrastructure and high spending capability. Access to quality treatment drives the regional market.

Fastest Growing Region

Asia Pacific shows rapid expansion led by China and India on account of rising disease prevalence, improving accessibility and affordability of therapies. Initiatives to strengthen economic conditions contribute to regional market growth.

Get More Insights on- Sulfasalazine Market

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)


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