According to the Market Statsville Group (MSG), the global ustekinumab market size is expected to grow at a CAGR of 8.1% from 2023 to 2033.
The global increase in the prevalence of psoriasis patients is the primary reason driving the market's growth rate. Moreover, growing healthcare spending is a major factor impacting the pace of growth of the ustekinumab market. Additionally, the growing elderly population and an increase in the number of clinical trial studies will drive the ustekinumab market. Additional factors such as increased government initiatives and more awareness will favourably influence the market growth rate. However, the high cost of the product will slow the market's growth pace. Side effects such as nausea, vomiting, dizziness, seizures, visual changes, disorientation, itching, hives, and trouble breathing, among others, may also impede the expansion of the ustekinumab market. Furthermore, the increase in R&D efforts and the emergence of new markets would give promising prospects for the ustekinumab market during the projection period.
Janssen Pharmaceuticals developed stekinumab (Stelara), a monoclonal antibody medication that targets both IL-12 and IL-23, for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. Ustekinumab is approved for the treatment of Crohn's disease and ulcerative colitis in the United States, Israel, Australia, and the European Union (EU) in patients who have not responded to more conventional therapy. It was proven to be unsuccessful in the treatment of multiple sclerosis. Ustekinumab is used to treat psoriasis. It is approved for the treatment of adolescents (12 years and older) and adults with moderate to severe plaque psoriasis (Ps) who are not candidates for phototherapy or systemic therapy, as well as people with active psoriatic arthritis (PsA), either alone or in combination with methotrexate. It is also used to treat Crohn's disease and ulcerative colitis, which is moderate to extremely active.
COVID-19 is an infectious illness that first appeared in late December in the Hubei province of Wuhan, China. The extremely infectious condition is caused by a severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). It spreads from person to person. After the disease's breakout in December 2019, it has expanded to over 213 nations worldwide, prompting the World Health Organization to declare it a public health emergency on March 11, 2020. Pharmaceutical and biotech businesses and governments worldwide are attempting to handle the COVID-19 epidemic, from vaccine research to pharmaceutical supply chain issues planning. About 115 vaccine candidates and 155 compounds are in the R&D pipeline. Also, routinely used medications like hydroxychloroquine have seen a huge increase in demand for COVID-19 control. Because of the enormous demand for these treatments, makers of COVID-19 management pharmaceuticals have a lot of chances since many wealthy nations are running out of them. As a result of the demand for COVID-19 vaccination and treatment medications, the pharmaceutical and biotechnology sectors are predicted to increase significantly in the future. This, in turn, is expected to impact the ustekinumab market significantly.
Psoriasis is treated with Ustekinumab. When it comes to the skin, this includes psoriatic arthritis. Ustekinumab is approved for the treatment of adults and adolescents (12 years and older) with moderate to severe plaque psoriasis (Ps) who are not candidates for phototherapy or systemic therapy, as well as people with active psoriatic arthritis (PsA), either alone or in combination with methotrexate. Skin-related diseases are spreading all around the world due to unhealthy diets and poor lifestyles. Ustekinumab also treats Crohn's disease and ulcerative colitis, which is moderate to extremely active in various regions. Canada, the European Union, and the United States have approved using Ustekinumab. Ustekinumab is authorized to treat moderate to severe plaque psoriasis. Ustekinumab has been authorized by the US Food and Drug Administration (FDA) to treat psoriatic arthritis. This increase in the prevalence of using this drug for the treatment of skin-related diseases is boosting the market growth over the forecasting period.
Stelara (ustekinumab) is an interleukin inhibitors medicine that is often used to treat Crohn's disease, plaque psoriasis, psoriasis, and other conditions. Stelara subcutaneous solution (45 mg/0.5 mL) costs around $13,971 for a supply of 0.5 milliliters. Moreover, this drug has many adverse effects, such as upper respiratory infection, headache, and tiredness.
Medication based on ustekinumab and their version of ustekinumab is linked to a variety of significant side effects. They include a higher chance of infection, such as TB, as well as a higher risk of some forms of cancer. The brain swelling of posterior reversible encephalopathy syndrome is a danger with several immunosuppressant medicines, such as ciclosporin. A significant allergic response is also listed as a possible adverse effect by the pharmaceutical firm. However, the cost associated with this drug and high side effects has hindered the market growth over the forecast period in all over the world.
Expanding into emerging markets is a significant opportunity for the Ustekinumab market. Healthcare organizations in emerging markets are increasingly recognizing the benefits of Ustekinumab and are adopting it in new technology to improve its effectiveness in Ustekinumab. This growing demand for Ustekinumab for skin-related diseases in emerging markets creates new opportunities for market growth and expansion. Furthermore, the increase in R&D efforts and the emergence of new markets would give promising prospects for the ustekinumab market during the projection period. Furthermore, continuing economic development and improved healthcare infrastructure will be important market drivers, creating new potential for the industry's growth rate.
The study categorizes the ustekinumab market based on indication, dosage form, and distribution channel area at the regional and global levels.
Based on the distribution channel, the market is divided into hospitals, clinics, retail pharmacies and online pharmacies. The hospital segment is expected to dominate the market share in 2022 in the global ustekinumab market. Ustekinumab is a medicine that is used to control and treat inflammatory disorders such as psoriasis, psoriatic arthritis, and inflammatory bowel disease. Ustekinumab is used in many hospitals to treat skin-related and other diseases. Due to these reasons, this segment has accounted for the largest market share over the forecast period.
Based on the regions, the global ustekinumab market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. In North America, the demand for ustekinumab is growing as the government implements healthcare reform initiatives aimed at improving the efficiency and quality of healthcare services. The spread of skin-related diseases in this market has driven the market growth over the forecasting period.
The ustekinumab market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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