Cosentyx Drug Market to Grow Rapidly with Rising Psoriatic Arthritis Cases

 

Cosentyx Drug Market
Cosentyx Drug Market

The Cosentyx drug market comprises human interleukin-17A inhibitor biologics that target and block the interleukin-17A cytokine involved in the pathogenesis of psoriatic arthritis. Cosentyx is used for the treatment of moderate to severe plaque psoriasis, psoriatic arthritis, and active ankylosing spondylitis. The monoclonal antibody drug helps in reducing inflammatory lesions and provides relief from joint pain and swelling associated with the conditions. Growing cases of psoriatic arthritis and ankylosing spondylitis along with effective clinical trial results of Cosentyx are fueling its demand.

The Global Cosentyx drug market is estimated to be valued at US$ 5.32 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Cosentyx drug market are Novartis AG. Novartis AG is a leading pharmaceutical company and manufacturer of Cosentyx drug. The company has strong distribution networks across major markets which is aiding its market dominance.

The Cosentyx Drug Market Size offers considerable opportunities for growth owing to its expanding therapeutic application base. Cosentyx is under clinical trials for new indications such as ulcerative colitis, Crohn's disease, and non-infectious uveitis which can further increase its revenues.

Novartis AG is focusing on global expansion of Cosentyx drug through regulatory approvals and new market entries. The drug has received approvals in the United States, Europe, and several other countries. Novartis intends to file for approval in additional geographies to increase the global patient reach of Cosentyx.

Market Drivers

Rising prevalence of psoriatic arthritis and ankylosing spondylitis: The increasing incidences of the target diseases are the primary factor driving the demand for Cosentyx drug. According to estimates, prevalence of psoriatic arthritis is around 0.3% worldwide.

Clinical efficacy: Cosentyx has demonstrated high clinical efficacy and safety in Phase 3 clinical trials for approved indications. It provides long lasting symptom relief with minimal side effects which is increasing patient adherence and revenue opportunities.

Market Restrains

Patent expiry: Cosentyx patent protection will begin expiring in major markets from 2027 which may increase competition from biosimilar entrants. This can impact the sales of Novartis in the later years of the forecast period.

High treatment cost: The biologic drug therapy of Cosentyx involves high treatment cost which may restrict its uptake in low and middle-income countries to some extent.

Segment Analysis

The Cosentyx Drug market is segmented based on indication into plaque psoriasis, psoriatic arthritis and ankylosing spondylitis. The plaque psoriasis segment currently dominates the market due to the high prevalence of the disease globally. Plaque psoriasis affects nearly 125 million people worldwide. Cosentyx was one of the first biologics approved for moderate-to-severe plaque psoriasis and it has demonstrated high efficacy with rapid onset of action for this condition.

Global Analysis

The North America region holds the major share in the Cosentyx Drug market owing to growing biologics uptake due to favorable reimbursement scenario and high awareness levels regarding psoriatic diseases in countries like the United States. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with expanding healthcare infrastructure and increasing healthcare spending power in developing economies like China and India. Novartis AG dominates the Cosentyx Drug market with a strong product portfolio and global commercial footprints. The key players are focusing on emerging markets through collaborations with regional partners to strengthen their geographic presence.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

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