LONDON--(BUSINESS WIRE)--The global Addison’s disease therapeutics market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global Addison's disease therapeutics market is the reformulation of drugs. The modified-release, sustained-release, extended-release, controlled-release, and prolonged-release versions of existing oral corticosteroid are gaining immense traction. This is mainly due to the pharmacodynamic and pharmacokinetic advantages of these versions over the conventional dosage forms. For instance, the prolonged action dosage forms maximize the bioavailability of the drug with a minimum dose and increase the rate as well as the extent of drug absorption. These benefits have led to the emergence of the reformulated versions of corticosteroids, which helps in the adequate maintenance of corticosteroid levels in the patients with Addison’s disease.
As per Technavio, the expanding research into the development of regenerative therapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global Addison’s disease therapeutics market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Addison’s disease therapeutics market: Expanding research into the development of regenerative therapy
Currently, the options available for the treatment of Addison’s disease involve the life-long use of exogenous corticosteroids. The long-term use of these drugs predisposes the patients to a range of harmful side effects such as buffalo hump, headache, muscle weakness, cataract, glaucoma, facial hair growth, and puffiness of the face. Thus, researchers are focusing on the development of regenerative therapies for the treatment of Addison's disease to reduce the duration of therapy and overcome these side effects. The adoption of regenerative medicines will significantly increase due to their minimal side effects and curative nature. Various research institutions and companies are investing in R&D of these medicines for curing rare and orphan diseases including Addison's disease. Such expanding research on the development of regenerative therapy will positively impact market growth during the forecast period.
“Apart from the expanding research into the development of regenerative therapies, factors such as the availability of clinical guidelines, redefined pathophysiology, and the adverse effects associated with available drugs are expected to have a significant impact on the growth of the Addison’s disease therapeutics market during the forecast period,” says a senior research analyst at Technavio.
Global Addison’s disease therapeutics market: Segmentation analysis
This market research report segments the global Addison's disease therapeutics market by product (oral drugs, and parenteral drugs) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North American can be attributed to the presence of favorable reimbursement schemes, the increasing awareness about the diagnosis and effective management of Addison’s disease, and the market entry of orphan drugs with expanded exclusivity rights.
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Five Forces Analysis
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