Methotrexate Drug Demand Soaring Due to Chronic Disease Burden and Biosimilar Adoption - Market to Reach US$ 1.058 Billion by 2034

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Mar 19, 2024, 10:15 ET

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NEWARK, Del., March 19, 2024 /PRNewswire/ -- Future Market Insights anticipates the methotrexate drug market to reach US$621.3 million in 2024. Market growth is projected to experience a increase from 2024 to 2034, with a CAGR of 5.5%, compared to 7.2% in 2023. This translates to a projected market value of US$1,058 million by 2034.

Demand-side Trends in The Methotrexate Drug Industry

the increasing prevalence of chronic diseases
the rise of biosimilar
advances in drug delivery systems
the growing awareness and acceptance of alternative therapies
the amplifying number of clinical trials and research studies on methotrexate

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The geriatric population, along with soaring cancer cases and autoimmune diseases across several regions, highlights the necessity of drugs like methotrexate. With weakened immune systems, older people tend to suffer from chronic diseases. This leads to a high demand for effective and affordable treatment options. The adoption of biosimilar is expected to intensify market growth during the forecast period. Patients seek alternative drugs that offer the same efficacy as branded drugs at a lower cost, thus gaining traction in the market.

Developments such as injectable formulations are giving a new dimension to the market by increasing the convenience offered to patients. The demand for methotrexate is being propelled by consumer clamor for alternative therapies, especially in integrative medicine. Methotrexate drug demand is expected to amplify as a result of trends highlighting complementary therapies.

"Growing awareness and acceptance of alternative therapies among patients are driving the demand for methotrexate drugs, particularly in integrative medicine. As more patients seek complementary and different therapies for their health conditions, the methotrexate drug market is expected to further expand. "Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).

Key Takeaways from the Methotrexate Drug Market

The methotrexate drug market is estimated to register a CAGR of 5.5%, with the valuation reaching US$ 1,058 million by 2034.
The rheumatoid arthritis segment is anticipated to dominate the market by registering a 5.3% CAGR from 2024 to 2034.
With a projected 5.1% CAGR, the in-house manufacturing segment is expected to drive the market from 2024 to 2034.

Competitive Landscape

Various companies operate in the methotrexate drug market, creating a highly competitive environment. These companies compete based on price, product quality, innovation, and distribution channels. Additionally, some smaller vendors produce generic versions of methotrexate. The competition is expected to intensify further during the forecast period due to the growing demand for methotrexate and the entry of new players into the market. To deliver better patient outcomes, companies are investing heavily in research and development to develop new and improved methotrexate products.

Recent Development

In 2023, the commercial launch of Jylamvo, the only oral Methotrexate solution approved by the FDA for use by adults in the United States, was announced by Shorla Oncology and EVERSANA.
In 2022, a new treatment alternative for Rheumatoid Arthritis patients with the introduction of the Metoject® Subcutaneous Injection Syringe, which is a form of medication containing Methotrexate in Japan.
In 2020, a new product called RediTrex injection was recently launched by Cumberland Pharmaceuticals Inc. This prefilled syringe is specifically designed for patients with rheumatoid arthritis and psoriasis who require subcutaneous administration of methotrexate.

Purchase now and gain full access to the Methotrexate Drug Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.

About the Author:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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