The scleroderma therapeutics and diagnostics market exhibits high potential due to untapped needs and is set to grow rapidly in the near future due to the increasing focus globally on treatment of orphan diseases. The lack of approved drugs in the market makes it a highly opportune condition for players to convert their innovative drug ideas into successful treatment methods for this rare chronic inflammatory disease.
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High Unmet Medical Needs Propel Growth
The scleroderma therapeutics market is driven by factors such as rise in clinical trials for systemic sclerosis, high acceptance of new therapies by patients, and new drug approvals for conditions such as pulmonary arterial hypertension, a significant symptom for certain systemic scleroderma patients. The high unmet medical needs owing to the nonexistence of adequate therapies for scleroderma is also a highly favorable opportunity that can be encashed by developing innovative treatment methods and drug classes for the condition.
Rising focus on undertaking awareness-raising initiatives is also expected to augment growth of the market in emerging economies such as Asia Pacific and Latin America, the relatively underdeveloped nature and the vast unmet needs across which present vast growth opportunities for market players to strengthen their foothold. A recent instance is the observance of an education/information day in June 2016 by Scleroderma Singapore and Scleroderma Australia as well as by certain Indian hospitals and support groups to promote better awareness regarding the disease.
High Cost of Treatment and Drugs to Impede Growth
Orphan drugs are usually premium-priced and the high cost of certain new launches is likely to remain one of the most impactful obstacles for the growth of the scleroderma diagnostics market in price-sensitive regions such as Asia Pacific and Africa. It is estimated that the per year treatment cost of a single systemic sclerosis patient suffering from pulmonary hypertension falls in the bracket of hundreds of thousands of dollars. Along with high disposable incomes, the favorable reimbursement structure in developed regions make these treatment costs for patients in regions such as Europe and North America more affordable than in developing regions such as Asia Pacific and Africa.