Growing prevalence of rheumatoid arthritis in developed countries to accelerate the global rheumatoid arthritis therapeutics market revenue to reach US$ 33,958.4 mn by 2025. Fortune Business Insights shares interesting facts and figures in its report, titled “Rheumatoid Arthritis Therapeutics Market Size, Share and Global Trend By Product Type (Biologics, Non-Biologics), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2025”. The analysis contained in the report shows that the global rheumatoid arthritis therapeutics market growth is projected to occur at a CAGR of 4.6% during the forecast period.
Rapidly Increasing Number of Aged People Worldwide to Aid Market Growth
The CDC says that even though rheumatoid arthritis can affect any age group, its onset is most often seen in people in their sixties. With the world witnessing a rapid rise in geriatric populations, the incidence of the disease will rise correspondingly. This is substantiated by WHO figures that show that by 2050, the percentage of people over the age of sixty will increase to 22% from the current 12%. More importantly, close to 80% of the old people will be living in middle and low income countries, thus increasing the demand for rheumatoid arthritis therapeutics. These numbers bode well for the global rheumatoid arthritis therapeutic market during the forecast period.
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Increased Focus on Research to Elevate Market Competition
Key players in the global rheumatoid arthritis therapeutics market are adopting various strategies to stay ahead of the competition, the most dominant one being research and development. For example, in 2016, Bristol-Myers Squibb Company conducted extensive research onanti-cyclic citrullinated protein antibodies (ACPA), which has enhanced the medical community’s capability for prognosis of the rheumatoid arthritis. Regular FDA approvals have also encouraged investments in the global rheumatoid arthritis therapeutics market. For instance, Unichem’s treatment capsules for rheumatoid and osteoarthritis, Piroxicam, got FDA clearance in April 2017.
Biologics Segment to Account for Highest Market Share
In terms of product type, the biologics segment is anticipated to hold the highest share in the market in terms of revenue during the forecast period. In 2017, the biologics segment held 87.6% of the rheumatoid arthritis therapeutics market. This is because biologics targeting specific components of the immune response system help to slow down the rate of progression of arthritis in the patient. They also help in improving the physical functionality of patients and are cost efficient as compared to other treatment methods, which helps to increase the demand for biologics in the market.
Presence of expensive drugs for rheumatoid arthritis treatment, coupled with, favorable reimbursement policies are factors propelling the global market. Developing countries are making efforts to improve their medical infrastructure in order to provide medical aid for diseases such as chronic arthritis and other chronic diseases and this is another key factor helping the market to grow.
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Rheumatoid Arthritis Therapeutics Top Companies Analyzed in the report:
- Gilead Sciences, Inc.
- Hoffmann-La Roche AG
- Eli Lilly and Company
- UCB S.A.
- Bristol-Myers Squibb Company
- Amgen Inc., Pfizer Inc.
- Celgene Corporation
- Johnson & Johnson Services, Inc.
Key questions answered in the report:
- What will the market growth rate of Rheumatoid Arthritis Therapeutics market in 2027?
- What are the key factors driving the global Rheumatoid Arthritis Therapeutics market?
- Who are the key manufacturers in Rheumatoid Arthritis Therapeutics market space?
- What are the market opportunities, market risk and market overview of the Rheumatoid Arthritis Therapeutics market?
- What are sales, revenue, and price analysis of top manufacturers of Rheumatoid Arthritis Therapeutics market?
- Who are the distributors, traders and dealers of Rheumatoid Arthritis Therapeutics market?
- What are the Rheumatoid Arthritis Therapeutics market opportunities and threats faced by the vendors in the global Rheumatoid Arthritis Therapeutics industry?
- What are sales, revenue, and price analysis by types and applications of Rheumatoid Arthritis Therapeutics market?
- What are sales, revenue, and price analysis by regions of Rheumatoid Arthritis Therapeutics industry?
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Table Of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Key Insights
- Merger, Acquisitions, and Partnerships
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Technological Developments in Rheumatoid Arthritis Therapeutics
- Covid-19 Impact Analysis
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