The global Sulfasalazine Market is estimated to be valued at US$ 2.01 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
It acts by blocking the enzyme which causes inflammation. For ulcerative colitis patients, sulfasalazine helps to reduce diarrhea and abdominal pain. It is available in various forms like tablets, capsules and liquids providing flexibility of drug administration.
Market key trends:
One of the key trends in the Sulfasalazine Market Size is the increasing demand for generic drugs. Patent expiries of several branded drugs have provided opportunities for generic manufacturers to enter the market. For instance, the patent for Azulfidine EN-tabs, an enteric-coated formulation of sulfasalazine developed by Pfizer expired in 2012. This allowed other companies like Teva, Mylan, and Dr. Reddy's to launch generic versions. The availability of low-cost generics is significantly driving the growth of the overall sulfasalazine market.
Segment Analysis
The global sulfasalazine market is segmented by indication, distribution channel, and region. Based on indication, the arthritis segment dominated the market in 2022 and accounted for the largest revenue share. Arthritis causes joint inflammation and pain, affecting millions of people worldwide. Sulfasalazine is an effective disease-modifying antirheumatic drug (DMARD) used in treating rheumatoid arthritis and other types of arthritis. It helps reduce inflammation and slow the progression of joint damage.
Key Takeaways
The global sulfasalazine market size is expected to grow from US$ 2.01 billion in 2023 to US$ 3.12 billion by 2030, exhibiting a CAGR of 5.7% during the forecast period. Rapid growth in arthritis prevalence rates, coupled with increasing geriatric population, which is highly susceptible to arthritis is fueling market growth.
Regionally, North America led the global market in 2022 and is expected to maintain its dominance over the forecast period. Factors such as rising joint disorders, increasing healthcare spending, and growing awareness about sulfasalazine therapy drive market growth in the region.
Key players operating in the sulfasalazine market are Pfizer Inc., Teva Pharmaceuticals, Mylan N.V., Dr. Reddy's Laboratories, Zydus Cadila, Sun Pharmaceutical Industries, Aspen Pharmacare, Apotex Inc., Sandoz (a division of Novartis), and Lupin Limited. These established players dominate the global market. They have strong distribution networks and focus on new product launches to expand their market share.
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