How Has the Taltz Market Evolved Historically and What is its Current Size?
The taltz market has seen considerable growth due to a variety of factors.
• In the past few years, the market size for Taltz has seen a XX (HCAGR) rise. Projected growth is expected to surge from $XX million in 2024 to $XX million in 2025 with a compound annual growth rate (CAGR) of XX%.
Reasons for this growth in the historic period include a higher incidence of psoriasis and psoriatic arthritis, the increased use of biologics for treatment, greater awareness in developed regions, a broadening healthcare infrastructure, and swift regulatory approvals in prime markets.
What is the Forecasted Market Size and CAGR for the Taltz Market Size Evolve over the Forecast Period?
The taltz market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations predict that the size of the Taltz market will experience an increase of XX (FCAGR) in the coming years, culminating in a growth to $XX million in 2029, with a compound annual growth rate (CAGR) of XX%.
The projected growth is attributed to factors such as the growing prevalence of autoimmune diseases, higher global spending in healthcare, government interventions for chronic disease handling, expansion into developing markets, and increased uptake of individualized medicine. Some of the key trends for the forecast period comprise a move towards self-administered biologics, technological strides in drug formulation, strategic partnerships and licensing pacts, advancements in biologic drug delivery and increased competition from biosimilars.
Which Drivers Are Accelerating Growth In The Taltz Market?
The upward trend in autoimmune conditions is anticipated to spur the growth of the taltz market in the future. These ailments occur when the immune system inadvertently attacks the body's healthy cells and tissues, causing inflammation and damage. The surge in autoimmune diseases is attributed to genetics, environmental factors, changes in lifestyle, and enhancement in diagnostic procedures that lead to improved recognition and understanding of these diseases. Taltz is utilized in the treatment of such ailments as it targets and suppresses particular inflammatory routes, predominantly interleukin-17A, in order to mitigate inflammation and ease symptoms related to disorders like psoriasis and psoriatic arthritis. For instance, in August 2022, as per the National Library of Medicine, a US-based medical library, a comprehensive review of 464 studies in 2022 unveiled 928 instances of autoimmune conditions linked to COVID-19 vaccination. Out of these, 81.5% (756 cases) were newly developed autoimmune diseases, with symptoms typically surfacing eight days after vaccination. The majority of the affected were women (53.6%), with an median age of 48 years. Thus, the increasing incidents of autoimmune conditions are set to boost the expansion of the taltz market.
What Are The Market Segments In The Taltz Market?
The taltz market covered in this report is segmented –
1) By Indication: Psoriasis, Psoriatic Arthritis, Ankylosing Spondylitis
2) By Route Of Administration: Subcutaneous Injection, Intravenous Infusion
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End User: Pediatric, Adult
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What Trends Are Shaping The Taltz Market?
A primary trend in the Taltz market involves acquiring drug approval from regulatory bodies to establish a competitive edge in the sector. The process of drug approval entails the assessment and authorization of a novel drug by regulatory agencies, ascertaining its safety, efficacy, and quality basing on clinical trial findings. For example, in August 2022, a pharmaceutical company based in the US, Eli Lilly and Company introduced a new citrate-free formulation of Taltz (ixekizumab) injection at a concentration of 80 mg/mL. The U.S. Food and Drug Administration (FDA) approved this variant in May 2022. Even though it contains the same active ingredient as the previous formulation, the new version is explicitly engineered to drastically cut down pain at the point of injection. Clinical information showed an 86% decrease in the level of pain, as evaluated on a visual analog scale (VAS), in reference to the original formulation. Taltz has received approval for treatment in children aged six and above, and adults suffering from moderate to severe plaque psoriasis who are eligible for systemic or phototherapy. Moreover, it's also suitable for adults diagnosed with active psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondyloarthritis who exhibit evidence of inflammation.
Who Are the Key Players In The Taltz Market?
Major companies operating in the taltz market are:
• Eli Lilly and Company
What Are The Regional Insights Into The Taltz Market?
North America was the largest region in the taltz market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the taltz market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
