Polymyalgia Rheumatica Treatment Market to Hit US$ 263.23 Mn By 2030, Says Reports Insights

New York, May 29, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Reports Insights, the polymyalgia rheumatica treatment market is poised for strong expansion and is expected to reach USD  263.23 Million by 2030. The market, which was valued at USD  190.06 Million in 2022, is predicted to grow at a compound annual growth rate of 4.2% during the period 2023-2030. The report highlights the increasing adoption of polymyalgia rheumatica treatment in hospitals, which is accelerating market growth at the global level. Reports Insights study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the polymyalgia rheumatica treatment market. Request Sample Now

The increasing prevalence of polymyalgia rheumatica among the elderly population is boosting the adoption of polymyalgia rheumatica treatment to efficiently control painful myalgia. Furthermore, the aging population in countries such as Japan, Italy, Finland, and others is further driving the demand for polymyalgia rheumatica treatment to reduce inflammation.  

Moreover, the increasing government partnerships with leading players dealing in polymyalgia rheumatica treatment, and others are some of the prominent factors prompting the global polymyalgia rheumatica treatment manufacturers to a new range of drugs. This factor is leading to the increasing drug pipeline for therapeutics for polymyalgia rheumatica treatment. For instance, AbbVie Inc, a leading pharmaceutical manufacturer in the United States is developing ABBV-154, a therapy for the treatment of polymyalgia rheumatica. Thus, the increasing pipeline for the treatment of polymyalgia rheumatica drugs will create a potential growth opportunity for the market at the global level.

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Global Polymyalgia Rheumatica Treatment Market Segmentation Details:

Based on Drug Class, the corticosteroids segment contributed the highest market share in 2022. Corticosteroids are an ideal drug treatment for the treatment of polymyalgia rheumatica conditions because corticosteroids efficiently eliminated the effects of several chemicals, which often lead to inflammation inside the patient's body. Thus, corticosteroids effectively relieve the symptoms of polymyalgia rheumatica. Hence, the above benefits associated with corticosteroids are augmenting the market growth.

Based on End User, the hospitals and clinics segment is anticipated to offer substantial shares in the global polymyalgia rheumatica treatment market. In hospitals, a low dose of oral polymyalgia rheumatica drugs such as corticosteroids, disease-modifying anti-rheumatic drugs (DMARDS), and others are prescribed for patients for effective treatment of polymyalgia rheumatica condition. These drugs reduce the pain and swelling in osteoarthritis, thereby providing effective relief to the patients. Thus, the increasing deployment of polymyalgia rheumatica drugs in hospitals is boosting market growth.

Based on region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. The prime factors, including the government initiatives for the construction of new healthcare facilities for the treatment of polymyalgia rheumatica, the development of a new range of polymyalgia rheumatica drugs, clinical trials related to the polymyalgia rheumatica treatment for the approval from United States Food and Drug Administration (FDA), and others are favoring the increasing adoption of polymyalgia rheumatica treatment treatments to enable a reduction in pain. This, in turn, is boosting the growth of the market.

Polymyalgia Rheumatica Treatment Market Research Coverage :-

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Key Market Takeaways

• Asia Pacific will create favorable circumstances for market growth in terms of value due to growing innovations for polymyalgia rheumatica treatment particularly in countries such as India, China, and others.
• Based on drug class, the corticosteroids segment accounted for the highest share contribution to the polymyalgia rheumatica treatment market statistics in 2022.
• In the context of end user, the hospitals segment is expected to contribute significant shares to the growth of polymyalgia rheumatica treatment market statistics during the forecast period.

Competitive Landscape

Sanofi, Pfizer Inc., and F. Hoffmann-La Roche Ltd., among others, are major market players that comprise the latest market circumstances. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. Further, the polymyalgia rheumatica treatment market is expected to grow steadily due to rising demand from homecare end users especially in the Asia Pacific, North America, and Europe regions which are estimated to boost the market statistics in the coming years. Additionally, the development of a new range of polymyalgia rheumatica treatment medications will further increase the competition in the market.

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Recent Developments

• In February 2023, the U.S. Food and Drug Administration (FDA) approved Kevzara (sarilumab), manufactured by Sanofi for the treatment of polymyalgia rheumatica (PMR). Thus, the increasing development of a new range of polymyalgia rheumatica (PMR) drugs will accelerate market growth in the upcoming years.

List of Major Global Polymyalgia Rheumatica Treatment Market:

• Regeneron Pharmaceuticals Inc.
• Sanofi
• GSK plc
• Merck & Co., Inc.
• Pfizer Inc.
• Centurion Healthcare Private Limited
• Hovione
• MODASA, Pharmaceuticals Pvt. Ltd.
• F. Hoffmann-La Roche Ltd.
• AbbVie Inc.

Global Polymyalgia Rheumatica Treatment Market Segmentation: 

• By Drug Class
  • Corticosteroids
  • Disease-Modifying Anti-Rheumatic Drugs (DMARDS)
  • Nonsteroidal Anti-Inflammatory Drugs (NSAIDS)
  • Others
• By End User
  • Hospitals
  • Homecare
  • Specialty Clinics
  • Others

Frequently Asked Questions in the Polymyalgia Rheumatica Treatment Market Report

What was the market size of the polymyalgia rheumatica treatment industry in 2020?

What will be the potential market valuation for the polymyalgia rheumatica treatment industry by 2030?

What are the key factors driving the growth of the polymyalgia rheumatica Treatment market, as well as the opportunities that may impact the market’s future development?

What is the dominating segment in the polymyalgia rheumatica treatment market by drug class?

Based on current market trends and future predictions, which geographical region will have the fastest impact on the polymyalgia rheumatica treatment market's growth in the coming years?

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