Description
The global Rheumatoid Arthritis Drugs/Therapeutics Market size accrued earnings worth approximately USD 18.55 Billion in 2023 and is predicted to gain revenue of about USD 30.15 Billion by 2032, is set to record a CAGR of nearly 5.50% over the period from 2024 to 2032
Global Rheumatoid Arthritis Drugs/Therapeutics Market: Overview
Rheumatoid arthritis is basically an autoimmune, inflammatory syndrome that generally causes swelling, chronic pain, and loss in the running ability of joints. It majorly occurs when an individual immune system attacks the synovium; the internal lining of membranes which mainly surrounds or covers the joints. In several patients, these antibodies may also injure few body systems which comprise the heart, skin, eyes, blood vessels, and lungs. The occurrence of rheumatoid arthritis extensively varies in various geographic regions, the lowest rates is likely to experience in the Asian countries as well as higher rates amongst some American inhabitants.
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Global Rheumatoid Arthritis Drugs/Therapeutics Market: Growth Factors
Increasing prevalence of the syndrome, occurrence of biosimilars & biologics, and well-defined authoritarian guidelines are likely to offer a boost to the global rheumatoid arthritis drugs/therapeutics market. As per the Arthritis Foundation, around 65% of the population between the age group of 60-65 is projected to suffer from arthritis problem in the U.S. Growing knowledge regarding syndrome remittance therapies and increasing healthcare expenses particularly in developed regions are projected to promote revenue development. The major expansion growth drivers of the global rheumatoid arthritis drugs/therapeutic market comprise, augment in geriatric inhabitants which are more prone to rheumatoid arthritis, higher prevalence rates, and launch of novel therapeutic agents. On the other hand, aspects such as insufficient insurance coverage for few drugs in emerging countries, patent expiration of some blockbuster drugs and non-availability of the treatment are the major restraints and challenges for the global rheumatoid arthritis drugs/therapeutic market.
Global Rheumatoid Arthritis Drugs/Therapeutics Market: Segmentation
The global rheumatoid arthritis drugs/therapeutics market can be classified in terms of sales channels, molecule types, and region. In terms of molecule, the global rheumatoid arthritis drugs/therapeutics market is categorized into pharmaceuticals and biopharmaceuticals. Pharmaceuticals division is further fragmented into analgesics, NSAIDs, DMARDs, and glucocorticoids. Biopharmaceuticals segment is bifurcated into biologics and biosimilars. In terms of sales channel, the global rheumatoid arthritis drugs/therapeutics market is bifurcated into over the counter (OTC) and prescription.
Global Rheumatoid Arthritis Drugs/Therapeutics Market: Regional Analysis
North America is likely to account for a significant market share for the global rheumatoid arthritis therapeutics market. High awareness of syndrome remittance therapies amongst patients, increasing occurrence of RA, and high private and public healthcare investment are likely to stimulate the development of the region. In addition, easy access to better healthcare, strong clinical pipeline, favorable reimbursement policies, and support of novel drugs are anticipated to likely promote revenue expansion in North America.
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Asia Pacific is projected to grow at the highest rate in the coming future. Rising acceptance of urban standard of living is likely to lead to the increasing base of patients in the province. Growing healthcare investments is projected to fuel the market growth in Asia Pacific. Favorable authoritarian policies for biosimilars are anticipated to propel the demand and popularity for the global rheumatoid arthritis drugs/therapeutics in the coming years.
Global Rheumatoid Arthritis Drugs/Therapeutics Market: Competitive Players
Some of the most important market players in the global rheumatoid arthritis drugs/therapeutics market are
- Boehringer Ingelheim GmbH
- AbbVie
- Regeneron Pharmaceuticals, Inc.
- Novartis AG
- Bristol-Myers Squibb Company
- Pfizer, Inc.
- UCB S.A.
- F. Hoffmann-La Roche Ltd.
- Amgen, Inc.
- and Johnson & Johnson Services, Inc.
- among others.
Global Rheumatoid Arthritis Drugs/Therapeutics Market: Segmentation
By Drugs
- Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
- Corticosteroid
- Disease-Modifying Antirheumatic Drugs (DMARDs)
- Janus Kinase (JAK) Inhibitors
- Biologic Agents
- Others
By Route of Administration
- Oral
- Parenteral
- Topical
- Others
By End-Users
- Hospitals
- Specialty Clinics
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Others
By Region
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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