USD 59.031 billion
Report ID: SQSG35I2003 | Region: Global | Published Date: December, 2022 | Pages: 242 | Tables: 115 | Figures: 69
Rheumatoid Arthritis Drugs Market size was valued at USD 59.031 billion in 2021 and is poised to grow from USD 60.02 billion in 2022 to USD 70 billion by 2030, growing at a CAGR of 1.72% in the forecast period (2023-2030).
Rheumatoid arthritis affects people of all ages, although the geriatric population is highly vulnerable to the diseases. The symptoms majorly include joint pain, stiffness, tenderness, and swelling. As per the statistics published by WHO, rheumatoid arthritis affected around 400 out of 100,000 people between 1980 and 2019. Despite high prevalence, it does not have 100% cure.
The major factors driving growth in the Global market are an increase in the prevalence of rheumatoid arthritis, an increase in demand for rheumatoid arthritis drugs, the expiration of patents and the entry of biosimilar drugs, an increase in the geriatric population, an increase in the adoption of conventional DMARDs, and government initiatives to spread awareness of rheumatoid arthritis symptoms. Furthermore, advancements in sophisticated biologics, an increase in healthcare expenditure, an increase in purchasing power, and global access to quality pharmaceuticals for poor and middle-class families are some of the factors driving Global Rheumatoid Arthritis Drugs Market expansion.
US Rheumatoid Arthritis Drugs Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 59.031 billion
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Global Rheumatoid Arthritis Drugs market is segmented by Drug Class into Disease-modifying Anti-rheumatic Drugs, Nonsteroidal Anti-inflammatory Drugs, Corticosteroids, and Uric Acid Drugs. By molecule, the market is segmented into Pharmaceuticals and Biopharmaceuticals. By Route of Administration, the market is segmented into Oral and Parenteral. By Sales Channel the market is segmented into Prescription Drugs and OTC drugs. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Rheumatoid Arthritis Drugs Market Analysis by Drug Class
Currently, disease-modifying anti-rheumatic medicines (DMARDs) are the leading revenue contributors and are expected to expand significantly in the Global Rheumatoid Arthritis Drugs Market during the forecast period. The increase in DMARD awareness, surge in rheumatoid arthritis prevalence, rise in obese & overweight population globally, and increase in usage of DMARDs as a first-line treatment for rheumatoid arthritis are the important reasons driving global market growth.
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North America holds majority share and is likely to maintain its dominant position in the Global Rheumatoid Arthritis Drugs market over the forecast period. Due to the presence of a large population base susceptible to rheumatoid arthritis, increased public awareness about the use and benefits of these drugs, development of the R&D sector, rise in healthcare reforms, and increase in rheumatoid arthritis drug adoption, Asia-Pacific presents lucrative opportunities for key players operating in the market. Furthermore, the rise in geriatric population and increased demand for DMARDs contribute to global market growth. Furthermore, the increased focus of top manufacturers on increasing their geographical presence in rising Asia-Pacific countries in order to acquire a large portion of the Global Rheumatoid Arthritis Drugs market is likely to boost growth.
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Rheumatoid Arthritis Drugs Market Driver
Increasing Efficacy of Medications in the Treatment of Rheumatoid Arthritis, Combined with Favorable Reimbursement Policies
Global rheumatoid arthritis drugs market is projected to grow at a CAGR of 2.75% from 2022 to 2028, owing to increasing efficacy of medications in the treatment of RA and favorable reimbursement policies. The market for biologics is expected to grow at a higher rate, owing to the advent of novel therapies and increasing awareness about the disease. Currently, there are two types of rheumatoid arthritis drugs available in the market, namely monoclonal antibodies (MoA) and non-biologic agents. MoA drugs are more expensive than non-biologic agents, but have a higher efficacy rate. Non-biologic agents are cheaper than MoA drugs, but their efficacy rate is lower. The growing geriatric population is expected to drive the growth of the rheumatoid arthritis drugs market during the forecast period. Wherein, the biologics category is expected to hold the highest market share.
Rheumatoid Arthritis Drugs Market Restraint
High Treatment Cost
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Global rheumatoid arthritis drugs market has become moderately competitive. This is partly because there are a number of new drugs available that can help to treat the condition. However, it is also due to the fact that existing drugs are being marketed in a more aggressive way. This means that companies are investing more in marketing their products, which in turn leads to higher sales volumes. The major players in this market are focusing on developing new and innovative products that can address the needs of patients. This is expected to drive the growth of the rheumatoid arthritis drugs market over the forecast period.
Top Player’s in Global Rheumatoid Arthritis Drugs Market
Rheumatoid Arthritis Drugs Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information wireless team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
Global Rheumatoid Arthritis Drugs Market research report also captures the market roadmap with market sizes, revenue forecasts, value chain, market & Drug Class trends, price trends and regulations, competitive landscape, leading players, and their key developments, strategy, and profile. According to our analysis North America is likely to maintain its dominant position in the rheumatoid arthritis market over the forecast period.
|Market size value in 2021||USD 59.031 billion|
|Market size value in 2030||USD 60.02 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Rheumatoid Arthritis Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rheumatoid Arthritis Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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