Rheumatoid Arthritis Drugs Market is Expected To Reach USD 37.41 Billion By 2028 at a CAGR of 4.00%
The growing incidence for Rheumatoid Arthritis and growing awareness among people are driving the market.
The global Rheumatoid Arthritis Drugs Market is forecast to reach USD 37.41 Billion by 2028, according to a new report by Reports and Data. Rheumatoid arthritis is an inflammatory disease that affects the joints. The condition worsens over time unless the inflammation is slowed or stopped. The disease rarely goes into remission without treatment.
Arthritis medications play a crucial role in controlling the symptoms and progression of rheumatoid arthritis. Start of treatment soon after diagnosis is most effective, and the best medical care combines rheumatoid arthritis medications and other approaches. Statistics show that out of every 100,000 people, 41 are diagnosed with RA every year. Women are about 2-3 times more likely to get RA than men. Hormones in both genders may play a role in either preventing or triggering it.
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Biologic agents that are used to treat RA need to be injected, and these Drugs are very effective in nature. They not only relieve symptoms but also halt any damage to joints, as they generally provide quick relief. One of the drawback of biologic agents are cost. Patients spend thousands of dollars a month using biologics. Another side effect include suppression of the immune system, enhancing the possibility of infections.
North America is expected to grow at a steady growth due to the increasing prevalence of rheumatoid arthritis and rising awareness about this disorder. Governments of North America are investing huge sums in improving the medical and healthcare facilities in the region.
Further key findings from the report suggest
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- Biopharmaceuticals are Drugs products such as proteins, including antibodies that are produced in living systems and used for diagnostic or therapeutic purposes or as dietary supplements.
- Glucocorticoids are strong anti-inflammatory steroids that can block other immune responses. These medications can relieve symptoms and may stop or slow joint damage. These Drugs can be received by injection or by pill. They can cause severe digestive tract problems. Patients with a history of liver, kidney, heart problems, or stomach ulcers, should not consume them.
- Hospital pharmacies are expected to dominate the market owing to the increase in the rheumatologist consultations in clinics and hospitals. The prolonged use of these medications can lead to Drugs resistance, which compels the patients to refer to a rheumatologist and follow guided therapies. Moreover, the number of OTC Drugs available for treatment is insufficient, which, in turn, is further propelling the growth of this segment.
- The market in Asia-Pacific is anticipated to witness high growth during the forecast period owing to the increasing healthcare expenditure. Furthermore, the low cost of manufacturing in India and China has resulted in an increase in the production facilities, which attracts pharmaceutical and biotechnological giants to the region.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Amgen Inc., Celgene Corporation, Boehringer Ingelheim GmbH, Johnson & Johnson, Novartis AG, AbbVie Inc., Bayer AG, Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, and Merck & Co. Inc., among others.
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Rheumatoid Arthritis Drugs Market Segmentation:
Drugs Class Outlook (Revenue, USD Billion; 2018-2028)
- Corticosteroids
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- Analgesics
- Other Drugs Classes
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Subcutaneous
- Intravenous
Sales Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospital Pharmacies
- Retail Pharmacies
- Online
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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