Rheumatoid Arthritis Drugs Market to Reach USD 39.26 Billion by 2030: The Brainy Insights
NEWARK, N.J., Feb. 28, 2022 /PRNewswire/ -- The report published by The Brainy Insights shows that the global rheumatoid arthritis drugs market is expected to grow from USD 18.44 billion in 2020 to USD 39.26 billion by 2030, at a CAGR of 4.34% during the forecast period 2021-2030.
Rheumatoid arthritis is characterized as symmetrical/bilateral pattern of disease progression. The characterization occurs because the knees and the legs are first affected by this disease. In the initial diagnosis, joint lining inflates thus causing tissue damage, leading to instability, chronic pain, and deformity. This disease can also affect extra-articular regions, including the mouth, eyes, lungs, and heart.
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As a permanent cure for rheumatoid arthritis is yet to be discovered, physiotherapy treatments are performed. The focus of these treatment procedures is to prevent bone deformity, minimize pain, reduce inflammation, and optimize & improve the patient's overall function. Patients can get adequate physiotherapy by utilizing assistive devices, exercise coupled with pain medication, NSAIDs, and steroids, which are often used to aid with a patient's symptoms.
The rising cases of rheumatoid arthritis will escalate the market growth and development. In the present scenario, there has been an upsurge in the diagnosis of rheumatoid arthritis. According to the research study conducted by Global Burden of Disease and Injuries, between 1 and 2 million of North America's population suffers from rheumatoid arthritis. Some of the significant factors revealed by this study include continuous cigarette smoking, vitamin D deficiency, and a lower dose of synthetic estrogens in oral contraceptives. This disease is often associated with increased morbidity rates, work-related disability, and shortened survival. Rheumatoid arthritis is most common in the old-age population considering the several complex health states that are likely to occur only in the later stages of life. Thus, the rise in the geriatric population is the primary factor responsible for market growth and development.
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Key players operating in the global rheumatoid arthritis drugs market include Boehringer Ingelheim GmbH, Regeneron Pharmaceuticals, Inc., Johnson & Johnson, Amgen Inc., Eli Lilly, Bristol-Meyers Squibb Company, UCB S.A., Pfizer, Inc., AbbVie, F. Hoffmann-La Roche AG, and Novartis International AG. To enhance their market position in the global rheumatoid arthritis drugs market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In August 2019, AbbVie received FDA approval of RINVOQ (Upadacitinib), an oral JAK inhibitor, to treat moderate to severe rheumatoid arthritis. The FDA approval of RINVOQ is supported by data from the SELECT program, one of the most significant registration Phase 3 programs in RA, with approximately 4,400 patients evaluated across all treatment arms in five studies.
- In February 2019, Pfizer Inc. performed a study to evaluate the safety measure of Tofacitinib 10 mg twice daily and Tofacitinib 5 mg twice daily to that of TNF inhibitor (TNFi) amongst the patients above 50 years and with at least one additional cardiovascular risk factor.
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The biopharmaceutical segment had a market value of around USD 22.93 billion in 2020
The type segment is divided into pharmaceuticals and biopharmaceuticals. The biopharmaceutical segment had a market value of around USD 22.93 billion in 2020. The segment growth is mainly attributed to the rheumatologists' rising acceptance of biologics and biosimilar drugs. They adopt the approach of applying biosimilar medicines and biologics because they help in tackling auto-immune diseases like rheumatoid arthritis very efficiently.
The prescription segment is estimated to grow at the highest CAGR of 4.6% over the forecast period.
The mode of distribution segment includes OTC (over the counter) and prescription. The prescription segment is estimated to grow at the highest CAGR of 4.6% over the forecast period. The segment growth is attributed to the increasing consultation activities of rheumatoid arthritis. Extended drug usage catering to rheumatoid arthritis often leads to drug resistance. So the patients are advised to go for consultations.
The oral segment is expected to hold the largest market share of the global rheumatoid arthritis market in 2020
By mode of administration, the market is segmented into oral, subcutaneous, and intravenous. The oral segment is expected to hold the largest market share of the global rheumatoid arthritis market in 2020. The segment growth is mainly attributed to the ongoing prevalence of oral-based pharmaceutical drugs for rheumatoid arthritis globally.
Regional Segment Analysis of the Rheumatoid Arthritis Drugs Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region led the global rheumatoid arthritis drugs market with a revenue of USD 22.02 billion in 2020. The regional growth is attributed to the increase in the geriatric population in and across the region. Also, the rising cases of rheumatoid arthritis in the U.S. will spur market growth and development in the North American region. The market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period considering the rising healthcare expenditure amongst the population in the region. Also, the drug manufacturing companies are gradually shifting their production facilities in developing and emerging nations because the cost associated with manufacturing pharmaceuticals drugs is comparatively low.
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About the report:
The global rheumatoid arthritis drugs market is analysed based on value (USD Billion). All the segments have been analysed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges, thus, helping to gain key insight into this market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply & demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that aims to provide actionable insights through data analytics, thus helping companies improve their business acumen. The company has a robust forecasting and estimation model to meet clients' objectives of high-quality output within a short time. The Brainy Insights provides customized (clients' specific) and syndicate reports and has a repository of syndicate reports diverse across all the categories and sub-categories within different domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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