April 20, 2024

Sjogren’s Syndrome Market Is Estimated To Witness High Growth Owing To Increasing Adoption Of Digital Therapeutics

The Sjogren’s syndrome market involves drugs to treat dry eyes and mouth symptoms for the condition. Sjogren’s syndrome is an autoimmune disorder where the body’s white blood cells attack and destroy the glands that produce tears and saliva. This makes eyes feel scratchy and mouth feel dry. The global Sjogren’s syndrome market is estimated to be valued at US$ 279.72 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 to 2030.

Key takeaways

Key players operating in the Sjogren’s syndrome are Allscripts Healthcare LLC, Cerner Corporation, NXGN Management, LLC, Mckesson Corporation, Koninklijke Philips N.V., Hill-Rom Services, Inc., Cisco Systems, Inc., GE Healthcare, Stanley Healthcare, and Vocera Communications, among others. The rising awareness regarding sicca syndrome and increasing adoption of digital therapeutics provide significant growth opportunities in the market. Digital therapeutics involves the use of digital and online health technologies to treat medical conditions. They are driven by software and are designed to prevent, manage, or treat a medical disorder or disease.

Key opportunities in the market include increasing penetration of digital health technologies and rising adoption of telehealth and remote patient monitoring solutions. Technological advancements such as development of combination drug therapies and novel targeted therapies are also expected to support market growth over the forecast period.

Market drivers

The increasing prevalence of Sjogren’s syndrome globally is the major factor driving the growth of the market. According to estimates, around 4 million Americans are affected by Sjogren’s syndrome. Rising geriatric population prone to autoimmune disorders also support the market growth. Other factors such as increasing healthcare expenditure, availability of reimbursements, and growing awareness about diseases contribute to the market expansion.

Current challenges in Sjogren’s Syndrome Market:
There are limited treatment options available for Sjogren’s Syndrome Market Scope . The disease management mainly focuses on relieving symptoms. Treatments available are mostly supportive in nature. Symptomatic treatments are prescribed depending on the symptoms suffered by the patient. Developing new disease-modifying treatments that can slow or stop the breakdown of moisture-producing glands remains a key challenge for the market. High unmet needs in terms of effective drugs is another major challenge being faced. Lack of awareness about early diagnosis and disease management further adds to the challenges.

SWOT Analysis
Strength: Growing diagnosis rate and availability of supportive care treatments. Large patient pool suffering from varying symptoms acts as an opportunity.
Weakness: Limited treatment options and lack of disease-modifying drugs. Absence of definite cure makes management difficult.
Opportunity: Increased R&D investments from pharmacies in developing novel treatment modalities. Growing awareness about early diagnosis and management protocols.
Threats: High costs associated with long-term supportive care. Risk of developing other autoimmune conditions further deteriorates quality of life.

Geographical regions concentrated in terms of value:
North America region currently holds majority market share due to high diagnosis and treatment costs in the US. Growing patient awareness levels and supportive reimbursement policies support market growth in the region.

Fastest growing region:
Asia Pacific region is poised to witness highest CAGR during the forecast period. This is attributed to the rapidly growing geriatric population, increasing healthcare expenditures, and developing economic conditions in various countries such as India, China, and Japan. Higher probability of autoimmune diseases prevalent in Asia’s genetic pool also supports regional market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it