Wilmington, Delaware, United States, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The rheumatoid arthritis drugs market was valued at US$ 17.5 billion in 2022. The market is predicted to grow at a CAGR of 5.7% from 2023 to 2031, reaching US$ 29.3 billion. Rheumatoid arthritis can be treated more effectively with personalized medicine due to genomics and molecular biology advances. Treatments' effectiveness and side effects could be improved by tailoring them according to an individual's genetic profile and disease characteristics.
Biologics, particularly targeted therapies, are expected to continue to be developed in the coming years. Compared to traditional disease-modifying antirheumatic drugs (DMARDs), these drugs target specific immune system components involved in rheumatoid arthritis, providing better results and fewer side effects. The convenience and effectiveness of rheumatoid arthritis treatments could be improved with drug delivery innovations. Some biologics are administered orally, as sustained-release formulations, or as subcutaneous injections.
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The current research on rheumatoid arthritis will likely lead to the discovery of new therapeutic targets, which will allow drugs to be developed that modulate the disease process in order to treat it. New treatment avenues could be opened up as a result. Putting different drugs together in a combination may be the key to treating multiple symptoms of the disease simultaneously in the future. Traditional DMARDs could be combined with biologics to make them more effective.
Key Findings of the Market Report
- From 2023 to 2031, Asia Pacific is forecasted to hold the largest share of the global rheumatoid arthritis drugs market.
- Based on drug type, the nonsteroidal Anti-inflammatory Drugs (NSAIDs) segment is expected to drive demand in coming years.
- Hospital pharmacies are expected to drive sales of rheumatoid arthritis drugs in the market.
- Over-the-counter (OTC) medications and a rise in the incidence of rheumatoid arthritis are expected to drive demand for rheumatoid arthritis drugs during the forecast period.
Global Rheumatoid Arthritis Drugs Market: Key Players
As drug manufacturers strive to expand their product portfolio, most are investing in the research and development of new drugs.
- AbbVie Inc.
- Johnson & Johnson Innovative Medicine
- Amgen Inc.
- Pfizer Inc.
- Novartis AG
- Sanofi S.A.
- F. Hoffmann-La Roche Ltd.
- Merck & Co. Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
Global Rheumatoid Arthritis Drugs Market: Growth Drivers
- The increasing prevalence of rheumatoid arthritis globally is a major driver of the market. Chronic autoimmune diseases are becoming more prevalent, so effective treatment options are in greater demand. Developing new drugs with improved safety and effectiveness has been fueled by ongoing research in biotechnology and pharmacology. Treatment for rheumatoid arthritis has increasingly emphasized biologics and targeted therapies.
- Age-related rheumatoid arthritis is more common in aging populations, and they are expected to demand more rheumatoid arthritis drugs as their population ages. Rheumatoid arthritis is becoming more widely recognized, and early diagnosis and treatment are becoming more important, which contributes to an increase in the number of patients seeking medical treatment.
- Government initiatives and policies promote rheumatoid arthritis research and development. Clinical trials can be accelerated with the support of regulatory frameworks and funding. Pharmaceutical companies constantly introduce new formulations and delivery systems, contributing to market growth.
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Global Rheumatoid Arthritis Drugs Market: Regional Landscape
- Rheumatoid arthritis is on the rise in Asia Pacific, contributing to a growing demand for effective treatments. The prevalence of rheumatoid arthritis increases in many countries in the Asia-Pacific region as the population ages. Pharmaceutical interventions are commonly needed for the elderly population due to their susceptibility to diseases related to the immune system, such as rheumatoid arthritis.
- Some countries in the Asia-Pacific region have improved healthcare infrastructure, including the ability to diagnose and treat rheumatoid arthritis. In response to these improvements, rheumatoid arthritis drugs have seen an increase in demand. Since more people are becoming aware of rheumatoid arthritis, early diagnosis and treatment are becoming increasingly important.
- The market demand for chronic illnesses, such as rheumatoid arthritis, is positively affected by government initiatives intended to improve healthcare facilities. In Asia Pacific, biologic drugs are becoming more popular in managing rheumatoid arthritis. As a result, advanced treatments have become more in demand. Many Asia-Pacific countries have experienced economic growth, increasing healthcare spending and affordability, making medications for rheumatoid arthritis more accessible and affordable.
Global Rheumatoid Arthritis Drugs Market: Segmentation
By Drug Type
- Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
- Corticosteroids
- Disease Modifying Anti-rheumatic Drugs (DMARDs)
- Biologic Response Modifiers (Biologics)
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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