Idiopathic Inflammatory Myopathy Treatment Market Size Worth USD 930.6 Million By 2026; Rising Technological Advancements to Boost Growth

The global idiopathic inflammatory myopathy treatment market size is projected to reach USD 930.6 million by 2026. The market is likely to gain momentum from the rising technological advancements as well as increasing awareness programs about the disorder. This information is published in a recent report by Fortune Business Insights™, titled, “Idiopathic Inflammatory Myopathy Treatment Market Size, Share & Industry Analysis, By Disease Type (Dermatomyositis (DM), Polymyositis (PM), Inclusion Body Myositis (IBM), Necrotizing Autoimmune Myopathy (NAM), Others), By Treatment (Corticosteroids, Immunosuppressants, Intravenous Immunoglobulins, Others), By Route of Administration (Oral, Intravenous, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Regional Forecast, 2019-2026.” The report further states that the market was worth USD 652.3 million in 2018. However, it is anticipated to exhibit a CAGR of 4.6% during the forecast period from 2019 to 2026.

Increasing Research & Development Activities to Propel Growth

There is a rising number of awareness programs to educate the masses about various types of myositis. At the same time, numerous industry giants are conducting research and development activities to launch innovative products. Research suggests that the adoption of several types of medications would upsurge in the coming owing to a multi-faceted approach of myopathy therapeutics. Besides, many prominent organizations are striving persistently to bag regulatory approvals for new therapeutics. These are in the initial period of clinical trials. All these factors are responsible for the idiopathic inflammatory myopathy treatment market growth during the forecast period.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/idiopathic-inflammatory-myopathy-treatment-market-100198

Key Segments of Idiopathic Inflammatory Myopathy Treatment Market

• By disease type: The market is segregated into necrotizing autoimmune myopathy (NAM), dermatomyositis (DM), inclusion body myositis (IBM), polymyositis (PM), and others. The PM segment had generated 44.4% idiopathic inflammatory myopathy therapeutics market share in 2018. The segment is set to remain in the dominant position throughout the forecast period. It is considered to be one of the highest occurring forms of myositis. PM can also cause disability if the affected person is not provided with proper medical treatment on time. Hence, it would lead to the growth of this segment. The IBM segment has a significant presence in terms of robust pipeline candidates. The DM segment is in the second position in terms of share.
• By treatment: The market is grouped into intravenous immunoglobulins, immunosuppressants, corticosteroids, and others. The immunosuppressants segment is expected to grow rapidly by showcasing a high CAGR. This growth is attributable to the presence of a large patient pool worldwide. Also, the usage of corticosteroids is rising day by day. Treatments that require the usage of corticosteroids must often have to be supplemented by immunosuppressants. It would help in providing effective treatment and managing the disorder well. The intravenous immunoglobulins segment, on the other hand, is likely to grow backed by the rising incidence of different types of myositis. The corticosteroids segment possesses the second highest market share because it is a mainstay treatment option.
• By route of administration: The market is fragmented into intravenous, oral, and others. The intravenous segment is expected to be at the forefront on account of its possession of a few immunosuppressants and intravenous immunoglobulins. These can be intravenously administered and are expensive. The oral segment is projected to remain in the second position as they are also equipped with therapeutics, namely, immunosuppressants and corticosteroids.
• By distribution channel: The market is categorized into online pharmacies, retail pharmacies, hospital pharmacies, and others. Out of these, the hospital pharmacies segment would lead the market as trained medical professionals are required for the administration of intravenous immunoglobulins in the cases of critical or advanced forms of myopathies. This vital inflammatory myopathy medications market trends would augment the growth of this segment. The retail pharmacies segment, on the other hand, would be in the second position because of the increasing cases of re-filling prescriptions. In such cases, these pharmacies help in providing more efficient facilities, especially for immunosuppressants and corticosteroids. Lastly, the online pharmacies segment would showcase the highest CAGR because they are easy to use and convenient.
• By region: The market is classified on the bases of Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Out of these, in North America, the idiopathic inflammatory myopathy drugs market size was USD 312.4 million in 2018 and it is set to lead the market. The growth is attributable to the rising healthcare expenditure as well as an increasing number of new product launches. Apart from these, renowned companies present in the market are conducting research and development activities to launch novel therapies. Coupled with this, the ongoing technological advancements in diagnostics and rising awareness programs are expected to boost growth in this region. Asia Pacific is projected to experience the highest market value on account of the rising incidence of various forms of myopathies in the emerging economies, such as Japan. Hence, the adoption of state-of-the-art therapeutics is increasing. Furthermore, the disposable income in this region is rising rapidly. It is causing higher healthcare expenditure. Europe would showcase a significant growth stoked by the presence of various countries facing the high prevalence of myopathies. The Middle East and Africa would also exhibit a steady growth fueled by the rising awareness and incidence of myopathies. In Latin America, the growth is set to be restricted but increasing awareness fueled by the framing of guidelines for treatment in Brazil and the other countries, is expected to drive the future growth.

Key Players Focus on Clinical Trials to Launch New Products

Prominent players present in the market are constantly conducting clinical trials to unveil new products and gain a competitive edge. They are also involved in research and development programs to discover better treatment options.

Fortune Business Insights™ lists out a few of the most reputed companies operating in the idiopathic inflammatory myopathy treatment market. They are as follows:

• LFB Group
• ImmunoForge
• Mylan N.V.
• ORPHAZYME A/S
• Shire (Takeda Pharmaceutical Company Limited)
• CSL Limited (CSL Behring)
• Pfizer, Inc.
• Biotest AG
• Kedrion S.p.A.
• Grifols, S.A.
• Other key market players

Some of the key industry developments are given below:

• April 2019: Orphazyme A/S, a biotech company headquartered in Denmark, finally completed enrollment in Phase II/III clinical trial examining arimoclomol for treating sporadic Inclusion Body Myositis (sIBM).
• October 2017: ORPHAZYME A/S, a Danish biopharmaceutical company, announced that it has partnered up with UCL and University of Kansas Medical Center to formally assume the sponsorship of Phase II/III arimoclomol trial for sIBM.

The idiopathic inflammatory myopathy treatment market can be segmented into: