Rheumatoid Arthritis Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: October 11, 2022
Historical Years – 2023 | Base Year – 2023 | Forecasted Years – 2024-2032
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Report Attribute |
Details |
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Market size value in 2023 |
US$ 1.59 billion |
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Revenue forecast in 2032 |
US$ 2.73 billion |
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Growth Rate |
CAGR of 6.14% from 2023 to 2032 |
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Base year for estimation |
2023 |
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Forecast period |
2024-2032 |
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Segments covered |
drug class, route of administration, and region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global rheumatoid arthritis therapeutics market was valued at US$ 1.59 billion in 2023 and is expected to register a revenue CAGR of 6.14% to reach US$ 2.73 billion by 2032.
Rheumatoid Arthritis Therapeutics Market Fundamentals
Rheumatoid arthritis (RA) is an autoimmune and inflammatory condition in which the immune system malfunctions and targets healthy cells, leading to inflammation (painful swelling) in the affected areas. RA primarily targets joints, typically several joints at once, and can occur at any age; however, it is most common in people between the ages of 30 and 50. It is referred to as elderly-onset RA or late-onset RA, which begins between 60 and 65. Numerous factors, including heredity, obesity, smoking, and other lifestyle choices, contribute to the development of different types of arthritis and the expected wear and tear of aging.
Rheumatoid Arthritis Therapeutics Market Dynamics
The rising prevalence of rheumatoid arthritis globally is a significant driver for the therapeutics market. As the incidence of RA increases, there is a growing need for effective treatments to manage the disease, leading to a higher demand for RA therapeutics. For instance, according to the WHO’s factsheet, in 2019, 18 million individuals were suffering from rheumatoid arthritis. Ongoing research and development activities in the field of rheumatology contribute to the discovery of new and more targeted therapeutic options. Introducing innovative drugs and treatment modalities enhances the market by providing more effective and safer patient options. Furthermore, government initiatives to improve healthcare infrastructure, promote research, and increase access to healthcare services can positively impact the RA therapeutics market. Policies that support the development and affordability of RA drugs can further boost market growth.
However, biologic disease-modifying antirheumatic drugs (bDMARDs) are often expensive to produce and administer. The high cost of these therapies can be a significant barrier to access, limiting their availability to a broader population, especially in regions with limited healthcare budgets. Some RA therapeutics, including biologics and other immunosuppressive drugs, may be associated with adverse effects and safety concerns. The risk of infections, infusion reactions, and other side effects can lead to patient reluctance and impact treatment adherence. Additionally, lack of access to healthcare services, immunogenicity and loss of efficacy, and complexity of treatment regimens are some restraints impeding the overall market growth.
Rheumatoid Arthritis Therapeutics Market Ecosystem
The global rheumatoid arthritis therapeutics market is analyzed from the following perspectives: Drug Class, Route of Administration, End User, and Region.
Rheumatoid Arthritis Therapeutics Market by Drug Class
Based on the drug class, the global rheumatoid arthritis therapeutics market is segmented into biopharmaceuticals and pharmaceuticals.
The pharmaceuticals segment dominated the market with the principal revenue share in 2023. The pharmaceuticals segment is further sub-segmented into analgesics and non-steroidal anti-inflammatory agents. Non-steroidal anti-inflammatory drugs (NSAIDs) are widely used in symptomatic therapy of rheumatic disorders defined by various types of acute and chronic musculoskeletal pain. These medications' main impact is reducing acute inflammation, which reduces pain and improves general function. According to studies, lower dosages of NSAIDs are useful in reducing inflammation in some cases of rheumatoid arthritis. Non-steroidal anti-inflammatory drugs (NSAIDs) are widely used in symptomatic therapy of rheumatic disorders defined by various types of acute and chronic musculoskeletal pain. These medications' main impact is reducing acute inflammation, which reduces pain and improves general function. NSAIDs like ibuprofen and naproxen are used for their anti-inflammatory and pain-relieving properties. They do not alter the course of the disease but provide symptomatic relief by reducing inflammation. The choice of pharmaceuticals in treating rheumatoid arthritis depends on various factors, including disease severity, patient preferences, comorbidities, and response to previous treatments. These aspects contribute to the growth of the pharmaceuticals segment.
Rheumatoid Arthritis Therapeutics Market by Route of Administration
Based on the route of administration, the global rheumatoid arthritis therapeutics market is segmented into parenteral and oral.
The parenteral segment accounted for a significant share of the market in 2023. The factors contributing to the high uptake of parenteral drugs include the drug’s quick absorption and beginning of effect, it avoids the first pass effect on the liver, and there is no risk of the medication being disaggregated by the digestive acids. Additionally, this route is suitable for patients at advanced disease stages. Moreover, one of the most preferred drugs for rheumatoid arthritis, methotrexate, manufactured by Pfizer, is the first-line treatment for the disease and can contribute to market growth. Methotrexate, frequently in combination with other DMARDs and a brief course of steroids (corticosteroids), is recommended to treat pain. These could be used in conjunction with biological therapies.
Rheumatoid Arthritis Therapeutics Market by End User
Based on the end user, the global rheumatoid arthritis therapeutics market is segmented into hospital, retail, and online pharmacies.
The hospitals segment is a key player in the rheumatoid arthritis therapeutics market with the largest revenue share in 2023. Hospital pharmacies are integral to healthcare institutions where patients receive comprehensive care, including managing chronic diseases like rheumatoid arthritis. The demand for RA therapeutics is directly linked to the prevalence of the disease among patients seeking care in hospitals. Many hospitals have specialized rheumatology departments or clinics that diagnose and treat rheumatoid arthritis. These departments work closely with hospital pharmacies to ensure the availability and dispensing of appropriate therapeutics. Their activities and decisions contribute to the overall demand for RA treatments. These overall factors contribute to the growth of the hospital pharmacies segment.
Rheumatoid Arthritis Therapeutics Market by Region
Geographically, the global rheumatoid arthritis therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global rheumatoid arthritis therapeutics market with the largest revenue share in 2023, attributed to established competitors in the industry, technologically improved healthcare IT, and increased funding to upgrade. North America boasts advanced healthcare systems with well-established hospitals, clinics, and specialized treatment centers. This infrastructure facilitates the diagnosis, treatment, and management of rheumatoid arthritis. The region is a hub for pharmaceutical research and development. Ongoing research focuses on discovering innovative therapies, including biologics and targeted treatments, to improve the efficacy and safety of RA therapeutics.
Similarly, the growth of the European market for rheumatoid arthritis is supported by factors such as the rising acceptance of novel therapeutics, the surge in the geriatric population, and the presence of advanced healthcare systems. Additionally, the presence of major market players in this region boosts the market growth. The Asia Pacific market for rheumatoid arthritis therapeutics is also expected to show lucrative growth in the forecast period due to the growing patient population and increasing awareness.
Rheumatoid Arthritis Therapeutics Market Competitive Landscape
The prominent players operating in the global rheumatoid arthritis therapeutics market are:
Rheumatoid Arthritis Therapeutics Market Strategic Developments
Rheumatoid arthritis (RA) is an autoimmune and inflammatory condition in which the immune system malfunctions and targets healthy cells, leading to inflammation (painful swelling) in the affected areas.
The global rheumatoid arthritis therapeutics market was valued at US$ 1.59 billion in 2023.
The increasing cost of drugs is the major restraining factor for the growth of the global rheumatoid arthritis therapeutics market.
The estimated market size of the global rheumatoid arthritis therapeutics market in 2032 is US$ 2.73 billion.
The revenue CAGR of the rheumatoid arthritis therapeutics market during the forecast period will be 6.14% from 2024 to 2032.
Some key companies operating in the global rheumatoid arthritis therapeutics market are Johnson & Johnson Services Inc., F. Hoffman-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer Inc., and UCB S.A.
Table of Content
*Insights on financial performance are subject to the availability of information in the public domain
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