Tofacitinib market is expected to gain market growth in the forecast period of 2021-2028. Data Bridge Market Research analyses the market to account to grow at a CAGR of 2.40% in the above mentioned forecast period.
Tofacitinib, commonly known as Xeljanz, belongs to the Janus kinase (JAK) inhibitor class of drugs. It works by inhibiting the activity of Janus kinase enzymes, which are implicated in the inflammation that triggers rheumatoid and psoriatic arthritis symptoms. Tofacitinib is also used to treat moderate to severe ulcerative colitis in individuals who are unable to take certain drugs or who have failed to respond to other treatments.
The rise in the prevalence of rheumatoid arthritis and rising healthcare expenditure are the major factors influencing the market growth rate. Furthermore, increasing geriatric population, strong drug pipeline and upsurge in the number of clinical trial studies are the factors that will expand the tofacitinib market. Other factors including rise in the growing government initiatives and rising preference as well as awareness about generic drugs will positively impact the market growth rate.
Moreover, the rise in the research and development activities and emerging new markets will provide beneficial opportunities for the tofacitinib market in the forecast period of 2021-2028.
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Global Tofacitinib Market Scope and Market Size
The tofacitinib market is segmented on the basis of strength, drug class, application, demographic, dosage form, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of strength, the tofacitinib market is segmented5mg, 10mg, 11mg and 22mg.
- On the basis of drug class, the tofacitinib market is segmented into antirheumatic, janus kinase inhibitor and immunosuppressant. Antirheumatic is further sub-segmented into antirheumatic disease modifying and antirheumatic miscellaneous.
- On the basis of application, the tofacitinib market is segmented into ulcerative colitis, rheumatoid arthritis, psoriasis and others.
- On the basis of demographic, the tofacitinib market is segmented into adult, pediatric and geriatric.
- On the basis of dosage form, the tofacitinib market is segmented into tablet, solution, tablet, extended release and others.
- On the basis of route of administration, the tofacitinib market is segmented into oral and others.
- On the basis of end-users, the tofacitinib market is segmented into clinic, hospital and others.
- The tofacitinib market is also segmented on the basis of distribution channel into hospital pharmacy, retail pharmacy and online pharmacy.
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