What Fueled The Previous Growth In The Cosentyx Drug Market?
The cosentyx drug market has seen considerable growth due to a variety of factors.
• Over the past few years, the cosentyx drug market has seen considerable growth. It is predicted that this will continue from $5,195.11 million in 2024 to $5,683.20 million in 2025, with a compound annual growth rate (CAGR) of 9.4%.
Many factors have contributed to this growth during the historic period, including its FDA approval and early entry into the market, proven clinical effectiveness and safety, the trend toward biologics, real-world data and long-term benefits, as well as regulatory approvals worldwide.
How Does the Forecast Look for the Cosentyx Drug Market Size?
The cosentyx drug market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market for the Cosentyx drug is predicted to register robust growth, with an anticipated value of $8,030.80 million by 2029 and an annual compound growth rate (CAGR) of 9.0%.
This growth during the forecast period can be credited to the rising incidence of autoimmune disorders, widened approved indications, progress in biologic treatments, favourable reimbursement policies, and impressive clinical results. The forecast period is also expected to see key trends such as expanded applications for autoimmune diseases, a shift towards individualized medicine, and a predominance of subcutaneous administration, along with research and development in new therapeutic fields.
What Factors Are Driving Growth In The Cosentyx Drug Market?
The increasing instances of autoimmune diseases are anticipated to stimulate the growth of the Cosentyx market. Conditions in which the immune system wrongly attacks the body's healthy cells and tissues are referred to as autoimmune diseases. Factors such as genetic predisposition, environmental conditions like infections and pollutants, along with shifts in lifestyle such as increased stress and dietary changes, are contributing to the rise in autoimmune diseases. Cosentyx (secukinumab) aids in managing autoimmune disease by limiting and inhibiting interleukin-17A, a primary cytokine involved in the inflammation process, consequently improving symptoms and quality of life for patients suffering from problems such as psoriasis, psoriatic arthritis, and ankylosing spondylitis. For example, Public Health Scotland reported in July 2023 that the percentage of newly diagnosed patients with multiple sclerosis (MS) surged to 87.2% from 85.7%, with 491 fresh cases reported, taking the total new diagnoses to 6,359 in 2022. Given this, the increasing instances of autoimmune diseases are fueling the Cosentyx market. The surge in healthcare spending is projected to further boost the growth of the Cosentyx market. Healthcare spending accounts for the total amount invested in healthcare products and services, including personal healthcare, preventive services and public health initiatives, aimed at bettering health outcomes over a specified period. The rise in healthcare spending is linked to an ageing population, chronic ailments, cutting-edge medical technology, elevated drug pricing, ineffective payment systems and a high demand for services. The expenditure on Cosentyx is primarily focused on managing moderate to severe cases of psoriasis, psoriatic arthritis and ankylosing spondylitis, and enhancing patient results via targeted biologic therapy. According to a report by the Office For National Statistics, a UK government agency, in May 2024, the total healthcare spending escalated by 5.6% in nominal terms from 2022 to 2023, in contrast with a growth rate of just 0.9% in 2022. In addition to this, the total long-term health and social care expenditure witnessed a 2.8% increase in real terms in 2022. Therefore, the rise in healthcare spending is propelling the Cosentyx market.
How Are The Segments Defined Within The Global Cosentyx Drug Market?
The cosentyx drug market covered in this report is segmented –
1) By Indication: Hidradenitis suppurativa, Psoriatic arthritis, Ankylosing spondylitis, Plaque Psoriasis
2) By Route Of Administration: Subcutaneous injection, Intravenous infusion
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies
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How Are New Trends Expected To Influence The Growth Of The Cosentyx Drug Market?
The primary trend observed in the cosentyx drug market is its emphasis on the development of sophisticated treatments such as biologics designed to meet unfulfilled patient needs, improve treatment effectiveness, and deliver targeted remedies for chronic autoimmune disorders, all with the aim of consolidating their market stand and addressing an ever-increasing patient group. Biologics are advanced treatments that are derived from living organisms or their cells that focus on particular elements of the immune system, such as Interleukin-17A, to regulate inflammatory reactions, leading to efficient management of autoimmune diseases like psoriasis, psoriatic arthritis, and ankylosing spondylitis. For example, Novartis AG, a pharmaceutical company based in Switzerland, earned FDA validation for Cosentyx (secukinumab), the first fresh biologic treatment for moderate to severe hidradenitis suppurativa (HS) in almost ten years in October 2023. This clearance signifies a significant progression in the treatment of HS, a recurrent and frequently incapacitating skin condition characterized by agonizing lumps resulting in scarring and mental anguish.
Who Are the Key Players In The Cosentyx Drug Market?
Major companies operating in the cosentyx drug market include:
• Novartis AG
What Is The Most Dominant Region In The Cosentyx Drug Market?
North America was the largest region in the cosentyx drug market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cosentyx drug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
