Global Ixekizumab Market – Industry Trends and Forecast to 2030

Ixekizumab Market Analysis and Size

The rise in the prevalence of psoriasis patients globally is the major factor driving the market’s growth rate. In addition, rising healthcare expenditure is the market driver influencing the growth rate of ixekizumab market. Furthermore, increasing geriatric population and upsurge in the number of clinical trial studies are the factors that will expand the ixekizumab market. Other factors including rise in the growing government initiatives and rising awareness will positively impact the market growth rate. Another significant factor that will cushion the growth of ixekizumab market is the increase in demand from various end-use industries. Also, rise in the level of disposable income and rapid urbanization will escalate the market growth rate for the mention forecast period mentioned above. Changing lifestyle and rising inclination towards smoking and alcohol consumption will drive the growth of ixekizumab market for the above mentioned forecast period.

Moreover, the rise in the research and development activities and emerging new markets will provide beneficial opportunities for the ixekizumab market in the forecast period of 2023-2030. In addition, continuous clinical trials and the improving healthcare infrastructure will act as major markets drivers that will create new opportunities for the markets growth rate. However, high cost associated with product will impede the market’s growth rate. Also, side effects such as nausea, diarrhoea, weight loss, abdominal pain, swelling, rash, hives, and breathing problems, among others will hamper the ixekizumab market’s growth. Lack of awareness will further challenge the ixekizumab market in the forecast period of 2023-2030.

Data Bridge Market Research analyzes that the ixekizumab market which was USD 899.22 million in 2022, and is likely to reach USD 1,484.85 million by 2030, and is expected to undergo a CAGR of 6.70% during the forecast period. “Hospitals” dominates the end user segment of the ixekizumab market due to the wide range of products applications in the hospitals. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Ixekizumab injection belongs to the monoclonal antibody class of drugs. It works by inhibiting the action of a natural chemical in the body that produces psoriasis symptoms. Adults take ixekizumab to treat active psoriatic arthritis or ankylosing spondylitis. In adults, ixekizumab is also used to treat axial spondyloarthritis. This medication is marketed under the brand names Taltz.

Global Ixekizumab Market Dynamics

Drivers

• Rising prevalence of psoriasis and psoriatic arthritis

Psoriasis and psoriatic arthritis are the primary conditions treated by Ixekizumab. An increase in the prevalence of these conditions can drive demand for this medication. This acts as one of the major factors driving the growth of ixekizumab market.

• Rising number of geriatric population

Psoriasis and psoriatic arthritis are often diagnosed or become more severe in older individuals. The increasing geriatric population is associated with a higher prevalence of these conditions, leading to increased demand for Ixekizumab. Thus, expanding geriatric population worldwide is predicted to favour to treat moderate to severe plaque psoriasis disease as this population is more prone to develop diseases

• Rise in Healthcare Spending

Many countries allocate a significant portion of their healthcare budgets to treat age-related diseases. This increased healthcare spending can drive the use of advanced treatments like Ixekizumab, which will further act as driver that will lead to the growth of the ixekizumab market in the forecasted year of 2023-2030 timeframe.

Moreover, improved healthcare access continues to improve leads to older adults that have access to advanced treatments, including biologics like Ixekizumab accelerate the ixekizumab market growth. 

Opportunity

• Rise in the research and development activities

The rise in research and development (R&D) activities can significantly impact the global Ixekizumab market. These activities can lead to advancements, new indications, and increased awareness of the drug, which can, in turn, will create lucrative market growth opportunities. Also, collaborations between pharmaceutical companies and healthcare providers can promote Ixekizumab and enhance its market presence which will also work in the favor of the market.

Restraint/Challenge

• High Cost Associated with Drug Development and Distribution

The high cost associated with product are expected to obstruct market growth. Moreover, side effects such as nausea, diarrhea, weight loss, abdominal pain, swelling, rash, hives, and breathing problems, among others  is projected to challenge the ixekizumab market in the forecast period of 2023-2030. Lack of awareness will further challenge the ixekizumab market in the forecast period mentioned above.

This ixekizumab market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ixekizumab market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In August 2022, Eli Lilly and Company (NYSE: LLY) announced the availability of a new, citrate-free formulation of Taltz® (ixekizumab) injection 80 mg/mL. This recently approved formulation by the U.S. Food and Drug Administration in May 2022 maintains the identical active ingredient as the initial version which leads to increase in the product portfolio of the company

Global Ixekizumab Market Scope

The ixekizumab market is segmented on the basis of drug class, demographic, application, dosage form, end-users, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug Class

• Interleukin inhibitors
• Others

Demographic

• Adult
• Paediatric

Application

• Ankylosing Spondylitis
• Psoriatic Arthritis
• Psoriasis
• Others

Dosage Form

• Subcutaneous Solution
• Others
  • 80 mg/mL

End-Users

• Clinic
• Hospital
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Global Ixekizumab Market Regional Analysis/Insights

The ixekizumab market is analysed and market size insights and trends are provided by country, drug class, demographic, application, dosage form, end-users, and distribution channel as referenced above.

The countries covered in the ixekizumab market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.

North America is expected to dominate the ixekizumab market because of the high incidence of dental conditions and high awareness among the population within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increasing economic stability and disposable income in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The ixekizumab market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for biomaterials market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the biomaterials market. The data is available for historic period 2010-2020.

Competitive Landscape and Ixekizumab market Share Analysis

The ixekizumab market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biomaterials market.

Some of the major players operating in the ixekizumab market are:

• Eli Lilly and Company (U.S.)

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