The Tofacitinib Global Market Report 2023, provides comprehensive information on the tofacitinib market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global tofacitinib market size is expected to grow from $2.43 billion in 2022 to $2.76 billion in 2023 at a compound annual growth rate (CAGR) of 13.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The global tofacitinib market size is expected to reach $4.40 billion in 2027 at a CAGR of 12.4%.
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Product innovation is a key trend gaining popularity in the tofacitinib market. Major companies operating in the tofacitinib market are developing innovative products to sustain their position in the market. For instance, in December 2021, Pfizer Inc., a US-based pharmaceutical and biotechnology corporation, announced that U.S. Food and Drug Administration (FDA) approved supplemental New Drug Application (sNDA) for tofacitinib-based medications XELJANZ and XELJANZ XR. XELJANZ is the first and only Janus kinase (JAK) inhibitor authorized in the United States for five immuno-inflammatory diseases. A Phase 3 multicenter, randomized, double-masked, placebo-controlled research comparing the safety and efficacy of tofacitinib 5 mg twice daily to a placebo in 269 adult patients with active AS formed the basis for the approval of XELJANZ for the treatment of AS.
The tofacitinib market is segmented:
1) By Drug Class: Antirheumatic, Janus Kinase Inhibitor, Immunosuppressant
2) By Strength: 5mg, 10mg, 11mg, 22mg
3) Route Of Administration: Oral, Other Routes Of Administration
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
5) By Application: Ulcerative Colitis, Rheumatoid Arthritis, Psoriasis, Other Applications
North America was the largest region in the tofacitinib market in 2022.
The table of contents in TBRC’s tofacitinib market report includes:
1. Executive Summary
2. Tofacitinib Market Characteristics
3. Tofacitinib Market Trends And Strategies
4. Tofacitinib Market – Macro Economic Scenario
5. Tofacitinib Market Size And Growth
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26. Africa Tofacitinib Market
27. Tofacitinib Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tofacitinib Market
29. Tofacitinib Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Beacon Pharmaceuticals Limited
- Pfizer Inc
- Globe Pharmaceuticals Ltd
- Drug International Limited
- Dolphin Pharmaceuticals
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