Ottawa, June 22, 2022 (GLOBE NEWSWIRE) -- The global rheumatoid arthritis drugs market size was estimated at US$ 60.02 billion in 2021. The increased prevalence of rheumatoid arthritis is one of the major reasons driving the global rheumatoid arthritis medications market. According to a study published in November 2020, the global prevalence of rheumatoid arthritis was anticipated to be 0.46% based on a systematic review. As a result, more rheumatoid arthritis treatments will be prescribed, propelling the market for these medications forward. Increased launches of novel biologics and rising generic medicine penetration are projected to boost the global rheumatoid arthritis pharmaceuticals market significantly.
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Growing patient knowledge of rheumatoid arthritis problems is another factor driving the global rheumatoid arthritis medications market. The worldwide rheumatoid arthritis medications industry is also being propelled forward by government authorities' increasing efforts.
Report Highlights
- On the basis of molecule type, biologics segment holds the largest market share in the global rheumatoid arthritis drugs market. Biological pharmaceuticals are expected to account for the majority of revenue in established nations over the predicted period. Due to the high cost of biologics, these treatments face significant competition from biosimilars and generic pharmaceuticals in emerging nations.
- On the basis of sales channel, prescription drugs segment holds the largest market share in the global rheumatoid arthritis drugs market. Overuse of rheumatoid arthritis drugs for a long time can develop to treatment resistance, thus patients with this disorder should see a rheumatologist and follow their recommendations.
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Regional Snapshot
North America region is the fastest growing region in the rheumatoid arthritis drugs market. The U.S. hold the highest market share in the North America rheumatoid arthritis drugs market. According to the Centers for Disease Control and Prevention, arthritis affects approximately one in every four Americans, or 58.5 million people. In addition, the Canadian government estimates that 374,000 Canadians aged 16 and up suffer from rheumatoid arthritis. Because of the disease's extensive prevalence, more medicines will be taken, leading in a growth in the rheumatoid arthritis drugs market in North America.
Asia-Pacific is the largest segment for rheumatoid arthritis drugs market in terms of region.China and Indiaare dominating the rheumatoid arthritis drugs market in the Asia-Pacific region. Rising knowledge of disease remission therapy, high public and private healthcare expenditure, and rising rheumatoid arthritis incidences are all driving the Asia-Pacific rheumatoid arthritis medications market. Furthermore, easy access to high-quality healthcare, a solid clinical product range, favorable reimbursement standards, and the approval of novel medications are projected to boost revenue growth in the Asia-Pacific area.
Market Dynamics
Drivers
Surge in prevalence of rheumatoid arthritis
The ageing population is mainly accountable for the rising incidences of rheumatoid arthritis. Furthermore, some evidence suggests that smokers are more likely to develop rheumatoid arthritis. The rise in the senior population, higher usage of traditional disease modifying antirheumatic drugs, and government measures to disseminate awareness of rheumatoid arthritis symptoms are the primary drivers driving the growth of global rheumatoid arthritis drugs market.
Restraints
Lack of awareness and high cost of rheumatoid arthritis drugs
The key limits of the global rheumatoid arthritis drugs market are expected to be medication related undesirable effects and high pricing of biological disease modifying antirheumatic drugs therapy. The most significant market limitation is the high cost of pharmaceuticals, as therapy is far more expensive and the average person cannot afford it in cases where there is no cure for the disease. The global rheumatoid arthritis drugs market is projected to face challenges due to a lack of awareness, particularly in emerging nations.
Opportunities
Growing advancements in biologics
Theadvances in sophisticated biologics, increased purchasing power, increased healthcare expenditure, and worldwide access to high quality medications for middle and poor class families are all contributing factors. On the other hand, due to enhanced treatment regarding early treatment and screening of rheumatoid arthritis, the global rheumatoid arthritis drugs market is predicted to rise quickly and shift the market outlook. As a result, growing advancements in biologics is creating lucrative opportunities for the growth of global rheumatoid arthritis drugs market.
Challenges
Lack of resources in underdeveloped nations
The underdeveloped countries do not have enough resources for the development of rheumatoid arthritis drugs. As a result, lack of resources in underdeveloped nations is a major challenge for the expansion of worldwide rheumatoid arthritis drugs market.
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- Generic Drugs Market Research Report 2021 - 2027
- Asthma Drugs Market Research Report 2022 - 2030
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Recent Developments
- Xbrane Biopharma AB and Biogen Inc. signed a commercialization and license agreement in February 2022 to develop, produce, and market Xcimzane, a preclinical monoclonal antibody that is suggested biosimilar of CIMZIA for the treatment of rheumatoid arthritis.
- The Food & Drug Administration approved Pfizer’s biosimilar, abriladaTM, for a number of inflammatory disorders, particularly rheumatoid arthritis, in November 2019.
- ROS Therapeutics, is developing a targeted methotrexate prodrug to reduce toxicity in the treatment of patients with rheumatoid arthritis.
- In 2020, Bayer AG announced that it would invest around $59 million in the establishment of new manufacturing and supply facility at Beijing Economic Technological Development.
Market Segmentation
By Molecule
- Pharmaceuticals
- NSAIDs
- Analgesics
- DMARDs
- Glucocorticoids
- Biopharmaceuticals
- Biologics
- TNF-α antagonists
- T-cell inhibitors
- CD20 antigen
- JAK inhibitors
- anti-IL6 biologics
- Biosimilars
- CD20 antigen
- TNF-α antagonists
- Biologics
By Sales Channel
- Prescription
- Over-the-Counter (OTC)
By Route of Administration
- Oral
- Parenteral
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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