Rheumatoid Arthritis Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: October 11, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 1.42 billion |
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Revenue forecast in 2030 |
US$ 2.42 billion |
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Growth Rate |
CAGR of 6.14% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
drug class, route of administration, and region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global rheumatoid arthritis therapeutics market was pegged at US$ 1.42 billion in 2021 and is expected to witness a CAGR of 6.14% during the forecast period.
Market Fundamentals
Rheumatoid arthritis (RA) is an autoimmune and inflammatory condition in which the immune system malfunctions and targets healthy cells in the body, leading to inflammation (painful swelling) in the areas of the body affected. RA primarily targets joints, typically several joints at once, and can occur at any age; however, it is most common in people between the ages of 30 and 50. It is referred to as elderly-onset RA or late-onset RA, which begins between 60 and 65 years of age. Numerous factors, including heredity, obesity, smoking, and other lifestyle choices, contribute to the development of different types of arthritis and the expected wear and tear of aging.
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Market Dynamics
The primary drivers propelling the global rheumatoid arthritis market are the increasing geriatric population, genetic inheritance leading to disease passing, and sudden lifestyle shifts such as excessive smoking and drinking. Additionally, a significant risk factor for rheumatoid arthritis is obesity. The development of advanced biologics is also expected to boost market growth. However, increasing costs of medications can restrict the growth of the global rheumatoid arthritis market.
Market Ecosystem
The global rheumatoid arthritis therapeutics market has been analyzed from three perspectives: drug class, route of administration, and region
Rheumatoid Arthritis Therapeutics Market by Drug Class
Based on drug class, the global rheumatoid arthritis market is segmented into biopharmaceuticals and pharmaceuticals. The biopharmaceutical segment is further classified into biosimilars and biologics. The pharmaceuticals segment is further sub-segmented into analgesics and non-steroidal anti-inflammatory agents. The pharmaceuticals category has the majority of the global rheumatoid arthritis market shares. Non-steroidal anti-inflammatory drugs (NSAIDs) are widely used in symptomatic therapy of rheumatic disorders defined by various types of acute and chronic musculoskeletal pain. The main impact of these medications is to reduce acute inflammation, which reduces pain and improves general function. According to studies, lower dosages of NSAIDs are useful in reducing inflammation in some cases of rheumatoid arthritis.
Rheumatoid Arthritis Therapeutics Market By Route of Administration
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Based on the route of administration, the global rheumatoid arthritis therapeutics market is segmented into parenteral and oral. The factors contributing to the high uptake of parenteral drugs include the drug’s quick absorption and beginning of effect, it avoids the first pass effect on the liver, and there is no risk of the medication being disaggregated by the digestive acids. Additionally, this route is suitable for patients at advanced disease stages. Moreover, one of the most preferred drugs for rheumatoid arthritis, methotrexate, manufactured by Pfizer, is the first-line treatment for the disease, and can contribute to market growth. Methotrexate, frequently in combination with other DMARDs and a brief course of steroids (corticosteroids), is recommended to treat pain. These could be used in conjunction with biological therapies.
Rheumatoid Arthritis Therapeutics Market by Region
Regionally, the global rheumatoid arthritis therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the highest share of the global market for rheumatoid arthritis therapeutics. The region's dominance is contributed by factors such as high awareness about the available therapeutics, satisfactory reimbursement policies, greater healthcare spending, and increased research and development, enhancing the introduction of many novel drugs in the market. The growth of the European market for rheumatoid arthritis is supported by factors such as the rising acceptance of novel therapeutics, the surge in the geriatric population, and the presence of advanced healthcare systems. Additionally, the presence of major market players in this region boosts the market growth. The Asia Pacific market for rheumatoid arthritis therapeutics is also expected to show lucrative growth in the forecast period due to the growing patient population and increasing awareness.
Competitive Landscape
Some prominent players operating in the rheumatoid arthritis therapeutics market are:
The primary drivers propelling the global market for rheumatoid arthritis are the increasing geriatric population, genetic inheritance leading to disease passing, and sudden shifts in lifestyles such as excessive smoking and drinking. Additionally, obesity will eventually increase the market for rheumatoid arthritis therapeutics.
Some prominent players operating in the rheumatoid arthritis therapeutics market are Johnson & Johnson Services Inc., F. Hoffman-La Roche Ltd., Merck & Co., Inc., Novartis AG Pfizer Inc., UCB S.A., Bristol-Myers Squibb Company, Eli Lilly and Company, Amgen Inc. Regeneron Pharmaceuticals Inc., Boehringer Ingelheim GmbH, and AbbVie Inc. among others.
The increasing cost of drugs is the major restraining factor for the growth of the global rheumatoid arthritis therapeutics market.
The global rheumatoid arthritis therapeutics market was pegged at US$ 1.42 billion in 2021 and is expected to witness a CAGR of 6.14% during the forecast period.
Regionally, the global rheumatoid arthritis therapeutics market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the highest share of the global market for rheumatoid arthritis therapeutics.
*Insights on financial performance is subject to availability of information in public domain