Market Introduction of Rheumatoid Arthritis Therapeutics Market
Inflammation and discomfort in the joints are symptoms of the disease rheumatoid arthritis. Although it affects people of all ages, the elderly population is particularly vulnerable to this condition. Rheumatoid arthritis symptoms include stiffness, joint pain, tenderness, and swelling. There is currently no treatment for rheumatoid arthritis. However, some medications, such as disease-modifying anti-rheumatic medicines (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and uric acid medications, are effective in controlling the symptoms of rheumatoid arthritis the need for imaging methods.
What is the Market Size of Rheumatoid Arthritis Therapeutics in terms of value?
With a CAGR of 4.40%, the market for rheumatoid arthritis treatments is anticipated to expand rapidly over the coming years. Therapeutics for rheumatoid arthritis were predicted to have a market value of roughly USD 22.5 billion in 2021 and USD 29.13 billion by 2028. The market for Rheumatoid Arthritis Therapeutics is anticipated to increase dramatically in the next years, with potential revenue of USD 6.63 billion for the top industry participants between 2022 and 2028.
Which is the key Molecule Type segment in the Rheumatoid Arthritis Therapeutics Market?
The Biopharmaceuticals segment registered a revenue share of over 55.0% of the total Rheumatoid Arthritis Therapeutics in 2021. The biopharmaceutical category dominated the market, accounting for over 57.0% of the whole market. By 2025, the market leader is expected to continue to gain market share from its rival. For this illness, pharmaceuticals are typically utilized as the first line of treatment. However, due to biopharmaceuticals' higher therapeutic output and disease remittance action, their demand is lower than that of biopharmaceuticals. Biologics and biosimilars are subcategories of biopharmaceuticals. Physicians prefer biologic medications to biosimilars when treating R.A., and biologic pharmaceuticals are expected to rule the market for the projection period. Throughout the projected period, biologic pharmaceuticals are anticipated to hold the largest market share in developed nations.
Interesting Facts about the Rheumatoid Arthritis Therapeutics Industry
The top countries in the Rheumatoid Arthritis Therapeutics market are the US, Canada, China, Germany, Russia, and France.
The major factors driving the growth of the rheumatoid arthritis drugs market are the rise in rheumatoid arthritis prevalence, rise in demand for rheumatoid arthritis drugs, expiration of patents & the entry of biosimilar drugs, rise in geriatric population, rise in adoption of conventional DMARDs, and government initiatives to spread awareness of rheumatoid arthritis symptoms.
The medication's accessibility, the patent expiration of popular pharmaceuticals, and other rheumatoid arthritis treatment choices are all predicted to limit the market's growth.
The North American region dominated the market for rheumatoid arthritis therapeutics in terms of volume and value in 2021.
The expansion of biopharmaceuticals is expected to be rapid.
Who are the Top players/companies in the Rheumatoid Arthritis Therapeutics market in terms of value?
AbbVie, Boehringer Ingelheim GmbH, Novartis AG, Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., UCB S.A., Johnson & Johnson Services, Inc., and Amgen, Inc. are the leading companies in the global market for rheumatoid arthritis therapeutics in terms of value. These large corporations are concentrating on technological breakthroughs and new product innovations to expand the production of Rheumatoid Arthritis Therapeutics and seize a competitive market share globally. Additionally, several local and national businesses are investing heavily to broaden their product lines and increase sales. For instance, Xbrane Biopharma AB and Biogen Inc. signed a commercialization and licensing agreement in February 2022 to develop, produce, and commercialize Xcimzane. This preclinical monoclonal antibody is a biosimilar of CIMZIA for the treatment of rheumatoid arthritis.
Who are the Top 10 Countries for the Rheumatoid Arthritis Therapeutics Market?
The leading nations in the global market for Rheumatoid Arthritis Therapeutics are China, India, Mexico, the United States, Canada, the United Kingdom, Germany, France, South Africa, and Brazil. The U.S. is the largest market for Rheumatoid Arthritis Therapeutics, accounting for a sizeable volume share of the global market in 2021. The region is growing due to rising R.A. prevalence, greater patient understanding of disease remittance therapies, and high public and private healthcare spending.
Which is the key Sales Channel used in the Rheumatoid Arthritis Therapeutics Market?
The Over-the-Counter (OTC) category dominated the Rheumatoid Arthritis Therapeutics market in 2021. Patients are increasingly selecting prescription drugs over over-the-counter ones in recent years. The increase in knowledge of novel disease reversal treatment alternatives caused the shift. Due to an increase in rheumatologist consultations, the prescription category is predicted to dominate the market for rheumatoid arthritis medications over the projected period. Patients with R.A. should see rheumatologists and adhere to recommended therapy because prolonged misuse of R.A. medications may result in drug resistance.
Additionally, there aren't many over-the-counter (OTC) drugs accessible for treatment. Active substances, including acetaminophen and diclofenac, are found in OTC products. Due to the approval of novel treatments with fewer side effects and growing awareness of illness remittance prescription medications for arthritis, it is anticipated that the share of these OTC drugs will decline throughout the projection period. Additionally, consistent OTC painkillers may have harmful side effects, including habit building and liver damage.
What are the Major Driving Factors for the Rheumatoid Arthritis Therapeutics Market?
The major factors driving the growth of the rheumatoid arthritis drugs market are the rise in rheumatoid arthritis prevalence, rise in demand for rheumatoid arthritis drugs, expiration of patents & the entry of biosimilar drugs, rise in geriatric population, rise in adoption of conventional DMARDs, and government initiatives to spread awareness of rheumatoid arthritis symptoms. The development of sophisticated biologics, rising healthcare spending, rising purchasing power, and increasing access to high-quality drugs for low-income and middle-class families globally are other factors that contribute to the market's growth.
What are the Major Restraints for the Rheumatoid Arthritis Therapeutics Market?
The market's expansion is anticipated to be constrained by the availability of the treatment, the patent expiration of well-liked drugs, and alternative rheumatoid arthritis treatment options. These factors collectively constitute the primary restraint of the global market for rheumatoid arthritis therapeutics. However, it is projected that the two primary market restraints would be adverse medication reactions and the high cost of biological DMARD therapy.
Which Region Dominated the World Rheumatoid Arthritis Therapeutics Market?
In 2021, North America dominated the global Rheumatoid Arthritis Therapeutics market and accounted for a major market revenue share. The region is growing due to rising R.A. prevalence, increased patient awareness of disease-modifying therapies, and high public and private healthcare spending. Additionally, it is anticipated that simple access to high-quality healthcare, kind reimbursement systems, a robust trial pipeline, and the approval of innovative pharmaceuticals will support revenue growth in North America.
In addition to leading regional growth, the U.S. significantly contributes to global revenue. Rheumatoid arthritis affects 860 people in the nation for every 100,000 people. Latin America and the Middle East and Africa (MEA), which are price-sensitive regions, accept generic medications more readily than innovator biologics since they are less expensive, which is rising the interest in new technology in that region. Henceforth which is growing the demand for Rheumatoid Arthritis Therapeutics.
Segmentation of Global Rheumatoid Arthritis Therapeutics Market-
Global Rheumatoid Arthritis Therapeutics Market – By Molecule Type
Pharmaceuticals
Biopharmaceuticals
Global Rheumatoid Arthritis Therapeutics Market – By Sales Channel Outlook
Prescription
Over-the-Counter (OTC)
Global Rheumatoid Arthritis Therapeutics Market – By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East and Africa
Frequently asked questions about the global Rheumatoid Arthritis Therapeutics market
The COVID-19 pandemic affected the Rheumatoid Arthritis Therapeutics Market as well, which led to a reduction in revenue in 2020 as a result of the temporary suspension of numerous development projects and deals by various businesses.
North America accounted for the highest share in the global Rheumatoid Arthritis Therapeutics market.
The major factors driving the growth of the rheumatoid arthritis drugs market are the rise in rheumatoid arthritis prevalence, rise in demand for rheumatoid arthritis drugs, expiration of patents & the entry of biosimilar drugs, rise in geriatric population, rise in adoption of conventional DMARDs, and government initiatives to spread awareness of rheumatoid arthritis symptoms.
Biopharmaceuticals had a major share in 2021.
The Over-the-Counter (OTC)segment had a major share in the global market in 2021.
