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Anti-Inflammatory Therapeutics Market Size, Share Analysis, Trends And Forecast 2024-2033
Anti-Inflammatory Therapeutics Market Size
According to The Business Research Company's, the wood bio-products market size has grown rapidly in recent years. It will grow from $254.22 billion in 2023 to $279.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to growing demand for sustainable and eco-friendly products, government support for the development of wood bio-products, increasing awareness of the environmental benefits of using manufactured wood products, increasing research and development activities.
The wood bio-products market size is expected to see strong growth in the next few years. It will grow to $392.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing demand for furniture and flooring products, geographic expansion , increasing investments in the wood bio-products, environmental awareness. Major trends in the forecast period include advanced wood conversion technologies, biorefinery development, technological innovation, collaboration and partnerships, sustainability initiatives.
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Market Drivers and Trends:
The increasing prevalence of inflammatory bowel disease is expected to propel the growth of the anti-inflammatory therapeutics market going forward. Inflammatory bowel disease (IBD) is a chronic illness resulting in inflammation of the gastrointestinal tract. Anti-inflammatory therapeutics play a crucial role in treating Crohn's disease by reducing inflammation, managing the symptoms of the disease, and reducing the risk of surgery. For instance, in July 2023, according to Oxford University Press (OUP), the university press of the University of Oxford, incidence of inflammatory bowel disease (IBD) is 10.9 per 100,000 person-years and the prevalence is 721 per 100,000 people. Therefore, the increasing prevalence of inflammatory bowel disease is driving the growth of the anti-inflammatory therapeutics market.
Major companies operating in the anti-inflammatory therapeutics market are introducing innovative drugs to strengthen their position in the market. For instance, in February 2023, Regeneron Pharmaceuticals Inc., a US-based biotechnology company, and Sanofi, a France-based pharmaceutical and healthcare company, launched Kevzara (sarilumab). The first and only anti-inflammatory biologic recommended for adult patients with polymyalgia rheumatic (PMR), an inflammatory rheumatic condition, who don't respond adequately to corticosteroids or cannot endure corticosteroid tapering.
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Major Key Players of the Market: Pfizer Inc., Johnson and Johnson Limited, F. Hoffmann-La Roche Ltd., Merck and Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi-Aventis LLC., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Eli Lilly and Co Ltd., Amgen Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., Sun Pharmaceutical Industries Limited, Otsuka Pharmaceutical Co. Ltd., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Cipla Inc., Zydus Lifesciences Ltd., Lupin Limited, Torrent Pharmaceuticals Ltd.
Anti-Inflammatory Therapeutics Market 2024
Key Insights:
• The anti-inflammatory therapeutics is expected to grow to $135.6 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.
• Rising Incidence Of Inflammatory Bowel Disease Fuels Growth In The Anti-Inflammatory Therapeutics Market
• Increasing Side Effects Of Drugs
• North America was the largest region in the anti-inflammatory therapeutics market in 2023
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