Anti-Rheumatics Market Size Worth Around US$ 72 Bn by 2027

LOS ANGELES, July 7, 2020 /PRNewswire/ -- The anti-rheumatics market size is expected to be worth around US$ 72 bn by 2027 and growing at a CAGR of 3% over the forecast period 2020 – 2027.

The development of warm, swollen and painful joints in rheumatoid arthritis is a medical condition which primarily affects a person's hands and wrists. The use of various medications known as anti-rheumatic medicines is the treatment of this disease. Moreover, these medicines are also used to modify the medical condition's course. For instance, disease-modifying anti-rheumatic medicines are anti-rheumatic medicines which slow the development of the disease. Drugs like anti-inflammatory and anti-steroid drugs are also being used in rheumatoid arthritis diagnosis.

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Asia-Pacific is Witnessing High Growth and is Expected to Follow the Same Trend Over the Forecast Period

Asia Pacific is expected to propel the growth of global anti-rheumatics market and is likely to continue its dominance during forecast period due to rising healthcare expenditure in the region. Moreover, China and India's low manufacturing cost has led to a rise in production plants that draw pharmaceutical and biotechnological companies from around the world to the Asia-Pacific. The rheumatoid arthritis disease prevalence increases are expected to fuel the region demand during the forecast period. For instance, the number of rheumatoid Arthritis cases has risen from 183,272 in 2007 to 263,365 in 2017 only in India, as per the Institute for Health Metrics and Evaluation. Analyzing the number of cases in other major Asia-Pacific countries will require a large and consistent contribution from everyone for the care of rheumatoid arthritis.

Market dynamics

Increasing geriatric population is the key factor that drives the growth of global anti-rheumatics market. The total population is projected to hit 9.3 billion in 2050, according to the Global Population Prospects of the United Nations, and about 21% of the population is predicted to be 60 and older. In addition to the ageing and growing population, the development of the global anti-rheumatic market is driving due to increased buying capacity and access to affordable medical and prescription services for small and medium-sized families. The concentration of pharmaceutical companies on the demand for rare and specialist diseases are other factors that contribute to this development. Advanced biological advances, nucleic acid therapies and cell therapies have generated developments in the market that drive this development.

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On the other hand, high cost and stringent regulations are projected to impact global anti-rheumatics industries growth opportunities in key markets. Anti-Rheumatic firms are forced to reduce R&D spending due to slowdown of growth in recent years and thus the global anti-rheumatic market is anticipated to hinder development as new product revenues are a major part of the pharmaceutical company's revenue owing to the exclusive use of medicines.. Generic producers' pricing is still a challenge for big brands. For instance, In 2013, Cipla released the Etacept Biosimilar of Ethanercept for treating rheumatic diseases, which is the cheaper alternative to the Enbrel brand of Amgen and Pfizer.

The global anti-rheumatics market includes prominent players such as Johnson & Johnson, Pfizer, Inc., Bristol-Myers Squibb Company, Celegene Corporations, F. Hoffmann-La Roche Ltd., MedImmune, LLC, Biogen Inc., Celltrion Inc., Takeda Pharmaceutical Company Ltd., Amgen Inc. and others.

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Recent Developments

• In October 2019, The World Arthritis Day, a global awareness day designed to raise awareness of the signs of rheumatic and musculoskeletal disorders (RMDs), has been recognized by the European League against Rheuma (EULar).
• In December 2019, Bristol-Myers Squibb announces U.S. FDA breakthrough therapy designation for ORENCIA® (abatacept) a possible lifetime risk following stem cell transplantation, to help avoid acute graft- or host illness advanced data systems (ADS)
• In June 2019, biogen to present new safety and efficacy data on biosimilars and estimates 1.8 billion euros in savings for the European healthcare system in 2019

Key Target Audience

• Research and Development (R&D) Companies
• Seropositive Rheumatoid Arthritis Drug Suppliers
• Academic Medical Institutes and Universities
• Seropositive Rheumatoid Arthritis Drug Manufacturers
• Medical Research Laboratories

Market Segmentation

Market By Drug Class

• Disease Modifying Anti-rheumatics Drugs (DMARD'S)
• Nonsteroidal Anti-inflammatory Drugs (NSAID'S)
• Corticosteroids
• Uric Acid Drugs
• Others

Market By Type

• Prescription-based Drugs
• Over-the-counter Drugs

Market By Distribution Channel

• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies

Market By End-User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Healthcare Specialty Process

Anti-Rheumatics Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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