Rheumatoid Arthritis Drugs Market Size Worth USD 38.61 billion By 2032
Ngày đăng: 14-11-2023 |
Ngày cập nhật: 14-11-2023
Market Summary: In 2022, the global market size for rheumatoid arthritis drugs was USD 24.89 billion, projected to reach USD 38.61 billion by 2032, with a forecasted revenue CAGR of 5%. Rheumatoid arthritis, a chronic autoimmune disease affecting joints and causing swelling, discomfort, is increasingly prevalent globally, impacting approximately 1.3 million people in the U.S. Factors contributing to this rise include aging populations, changing lifestyles, and heightened public awareness.
Key Drivers: The market growth is propelled by the development of advanced biologic therapies, effectively treating rheumatoid arthritis by targeting specific immune system molecules contributing to joint pain and inflammation. The demand for biologic medications is surging, fostering revenue growth. Combination therapy, involving various medications to address different aspects of the disease, is another significant driver, enhancing patient outcomes and slowing disease progression. Additionally, a focus on personalized medicine, tailoring treatment based on genetic indicators, is contributing to market expansion.
Get a sample copy of the Rheumatoid Arthritis Drugs Market report: https://www.reportsanddata.com/download-free-sample/2394
Challenges: Obstacles to market growth include the high cost of biologic medications, adverse effects associated with rheumatoid arthritis drugs, and the increasing availability of biosimilars—lower-cost versions of biologics with similar structure and function.
Data Statistics: Rheumatoid arthritis affects over 1.3 million people in the United States alone, according to the World Health Organization. The FDA has established regulations for the manufacture and distribution of drugs used to treat rheumatoid arthritis, including generic versions of biologic drugs.
Drug Insights: Around 1% of the global population suffers from rheumatoid arthritis, and the market for medications, including NSAIDs, DMARDs, biologics, and others, is expected to expand significantly. In 2021, NSAIDs dominated revenue, with DMARDs projected to have the fastest revenue CAGR. The biologics segment is also expected to experience substantial growth due to the desire for more precise and effective treatments.
Distribution Channels: Hospital pharmacies, retail pharmacies, and online pharmacies constitute distribution channels. Retail pharmacies led in 2021, offering convenience and pharmacist guidance. Hospital pharmacies, due to their expertise in critical care medications, and online pharmacies, providing home delivery and comprehensive product information, are anticipated to grow significantly.
Regional Perspectives: North America is expected to dominate the market, fueled by rising rheumatoid arthritis incidence and advanced technologies. The Asia Pacific region is projected to experience the fastest growth, driven by a growing patient base and increased disposable income. Europe is expected to grow moderately, while South America and the Middle East & Africa are also anticipated to see significant market expansion.
Major Companies: Key players in the global rheumatoid arthritis drugs market include AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Inc., GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Merck & Co., Inc., Pfizer Inc., Roche Holding AG, and Sanofi S.A.
Strategic Planning: Major companies are engaging in strategic initiatives, such as acquisitions and partnerships, to expand their product offerings. Notable examples include Eli Lilly's acquisition of Protomer Technologies and Compugen's partnership with Bristol-Myers Squibb Company.
Product Launches: Companies like AbbVie Inc., Amgen Inc., and Eli Lilly and Company have introduced novel biologic drugs for rheumatoid arthritis treatment, such as Skyrizi, Otezla, and Olumiant, respectively.
Report Scope: The report covers historical data and forecasts revenue growth globally, regionally, and at the country level from 2019 to 2032. Segmentation is based on drug class, route of administration, distribution channel, and region. Key segments include Nonsteroidal Anti-Inflammatory Drugs, Disease-Modifying Antirheumatic Drugs, Biologics, and Others, among others.
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Key Drivers: The market growth is propelled by the development of advanced biologic therapies, effectively treating rheumatoid arthritis by targeting specific immune system molecules contributing to joint pain and inflammation. The demand for biologic medications is surging, fostering revenue growth. Combination therapy, involving various medications to address different aspects of the disease, is another significant driver, enhancing patient outcomes and slowing disease progression. Additionally, a focus on personalized medicine, tailoring treatment based on genetic indicators, is contributing to market expansion.
Get a sample copy of the Rheumatoid Arthritis Drugs Market report: https://www.reportsanddata.com/download-free-sample/2394
Challenges: Obstacles to market growth include the high cost of biologic medications, adverse effects associated with rheumatoid arthritis drugs, and the increasing availability of biosimilars—lower-cost versions of biologics with similar structure and function.
Data Statistics: Rheumatoid arthritis affects over 1.3 million people in the United States alone, according to the World Health Organization. The FDA has established regulations for the manufacture and distribution of drugs used to treat rheumatoid arthritis, including generic versions of biologic drugs.
Drug Insights: Around 1% of the global population suffers from rheumatoid arthritis, and the market for medications, including NSAIDs, DMARDs, biologics, and others, is expected to expand significantly. In 2021, NSAIDs dominated revenue, with DMARDs projected to have the fastest revenue CAGR. The biologics segment is also expected to experience substantial growth due to the desire for more precise and effective treatments.
Distribution Channels: Hospital pharmacies, retail pharmacies, and online pharmacies constitute distribution channels. Retail pharmacies led in 2021, offering convenience and pharmacist guidance. Hospital pharmacies, due to their expertise in critical care medications, and online pharmacies, providing home delivery and comprehensive product information, are anticipated to grow significantly.
Regional Perspectives: North America is expected to dominate the market, fueled by rising rheumatoid arthritis incidence and advanced technologies. The Asia Pacific region is projected to experience the fastest growth, driven by a growing patient base and increased disposable income. Europe is expected to grow moderately, while South America and the Middle East & Africa are also anticipated to see significant market expansion.
Major Companies: Key players in the global rheumatoid arthritis drugs market include AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Inc., GlaxoSmithKline plc, Janssen Pharmaceuticals, Inc., Merck & Co., Inc., Pfizer Inc., Roche Holding AG, and Sanofi S.A.
Strategic Planning: Major companies are engaging in strategic initiatives, such as acquisitions and partnerships, to expand their product offerings. Notable examples include Eli Lilly's acquisition of Protomer Technologies and Compugen's partnership with Bristol-Myers Squibb Company.
Product Launches: Companies like AbbVie Inc., Amgen Inc., and Eli Lilly and Company have introduced novel biologic drugs for rheumatoid arthritis treatment, such as Skyrizi, Otezla, and Olumiant, respectively.
Report Scope: The report covers historical data and forecasts revenue growth globally, regionally, and at the country level from 2019 to 2032. Segmentation is based on drug class, route of administration, distribution channel, and region. Key segments include Nonsteroidal Anti-Inflammatory Drugs, Disease-Modifying Antirheumatic Drugs, Biologics, and Others, among others.
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Request a customization of the report: https://www.reportsanddata.com/request-customization-form/2394
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
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