An expanding patient base, ongoing awareness campaigns and the acceptance of biologics by physicians are spurring growth in the European autoimmune diseases therapeutics market. With over 70 autoimmune diseases including rheumatoid arthritis and multiple sclerosis (MS), there exists tremendous scope in translating current knowledge to producing innovative, efficient and economical therapeutics.
Frost & Sullivan (pharma.frost.com) finds that the European Autoimmune Diseases Therapeutics Market earned revenues of $5.40 billion in 2006 and estimates this to reach $18.74 billion in 2013.
"The growing patient population and the need for better treatment options are the major driving forces in market growth," says Frost & Sullivan Industry Analyst Sylvia Miriyam Findlay.
The estimated prevalence rate of MS in Europe is 83 of 100,000 with the average annual number of new cases pegged at 4.3 per 100,000. Moreover, Europe has 103 million arthritis sufferers, including nearly 2 million with rheumatoid arthritis; resulting in a $65 billion burden. This situation has created a compelling need for innovative, effective and affordable therapeutics.
"The rising uptake of biologics by physicians will have a significant impact on product sales," notes Ms. Findlay. "Aggressive campaigns undertaken by the pharmaceutical companies to promote newer biologics are sparking interest among physicians and will propel revenue generation."
However, the considerable gap between early diagnosis and the actual initiation of therapy remains a critical restraining factor to market growth.
"The complex nature of autoimmune diseases hinders the development of suitable therapeutics," observes Ms. Findlay. "The scenario is worsened by low awareness among patients and physicians as well as by improper communication about methods of effective disease management."
A range of continuous medical education programmes will help disseminate information on autoimmune diseases and their clinical and financial implications. Such initiatives will expand diagnosis and, by extension, the patient population being treated. This will be the key to accelerate market penetration.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Autoimmune Disease Therapeutics Market (H045-52), send an e-mail to Radhika Menon Theodore - Corporate Communications at rmtherodore[.]frost.com with your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information through email upon receipt of the above information.
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Keywords: biologics, physicians, European autoimmune diseases therapeutics market, Europe, autoimmune diseases, autoimmune disease therapeutics, market, rheumatoid arthritis, multiple sclerosis, MS, arthritis sufferers, pharmaceutical companies, disease management, medical education programmes