April 20, 2024

The Sjogren’s Syndrome Market Is Poised To Expand Significantly By Growing Demand For Biomarkers-Based Diagnosis

The Sjogren’s syndrome market deals with diagnosing and managing the autoimmune disease that causes dry eyes and dry mouth. Early and accurate diagnosis is crucial to prevent associated complications. The growing demand for reliable disease biomarkers and innovative therapeutic approaches are driving the sjogren’s syndrome market. The Global Sjogren’s Syndrome Market is estimated to be valued at US$ 279.72 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period from 2024 to 2030.

Key Takeaways
Key players operating in the Sjogren’s syndrome are Allscripts Healthcare LLC, Cerner Corporation, NXGN Management, LLC, Mckesson Corporation, Koninklijke Philips N.V., Hill-Rom Services, Inc., Cisco Systems, Inc., GE Healthcare, Stanley Healthcare, and Vocera Communications, among others. The increasing awareness about sjogren’s syndrome symptoms and availability of wide range of diagnostic tests are fueling the market growth. Various biomarkers such as anti-SSA/Ro and anti-SSB/La are used to accurately detect the autoimmune disorder at an early stage. The major players are focusing on strengthening their geographic presence by tapping the opportunities in emerging markets in Asia Pacific, Latin America, and Middle East & Africa.

Market key trends
One of the key trends shaping the sjogren’s syndrome market growth is the increasing adoption of artificial intelligence technologies by biopharmaceutical companies and diagnostic labs. AI-powered algorithms can analyze large patient datasets and medical imaging scans to detect subtle disease patterns unidentifiable by humans. This aids in developing novel diagnostic and treatment approaches. Another major trend is the rising popularity of at-home salivary gland functioning tests. Players are launching saliva collection kits integrated with smartphone apps for convenient, pain-free, and non-invasive self-testing. This is boosting remote monitoring capabilities and improving access to care.

Porter’s Analysis
Threat of new entrants: New companies find it difficult to enter the market as they have to invest heavily in R&D and manufacturing capabilities.
Bargaining power of buyers: Buyers have moderate bargaining power in the form of alternative treatment options and price transparency.
Bargaining power of suppliers: Suppliers exert moderate pressure on pricing as the industry requires specialized raw materials and expertise.
Threat of new substitutes: Potential substitutes have limited capabilities to treat the disease.
Competitive rivalry: Companies compete on the basis of product innovation, clinical evidence, and targeted therapeutic approaches.

Geographical Regions
North America dominates the Global Sjogren’s Syndrome Market Analysis currently due to advanced healthcare infrastructure and presence of major players in the region. The United States holds the largest share in the region due to growing prevalence of the disease and increasing adoption of diagnostic tests and targeted therapies.

Asia Pacific region is expected to witness the fastest growth over the forecast period majorly attributed to growing geriatric population, rise in healthcare expenditure, and increasing awareness about Sjogren’s syndrome diagnosis and management. Additionally, emergence of prominent local players offering cost-effective treatment and diagnostics will support the market growth in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it