Rheumatoid Arthritis Therapeutics Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4247
Rheumatoid Arthritis Therapeutics Market size is projected to experience significant growth from 2019 to 2025.
Rising incidence of rheumatoid arthritis coupled with growing geriatric population base is driving the market growth. For instance, according to the Centers for Disease Control and Prevention in 2017, in the U.S. an estimated number was announced that is 54.4 million adults suffering from arthritis that covers around 25% of the population. However, according to the Healthline, around 1.3 million Americans are diagnosed with rheumatoid arthritis.
The growing demand for biologics and increasing penetration of generic drugs coupled with rising number of FDA approvals for the treatment of rheumatoid arthritis is boosting the market growth. For instance, from 2017-2018 FDA approved 2 drugs for the treatment of rheumatoid arthritis. Recently approved biologics such as Kevzara and Xeljanz are expected to boost rheumatoid arthritis therapeutics market growth owing to their strong market penetration and presence of favorable reimbursement scenario.
However, high cost of biologics and accessibility to these biologics may restrict the market growth in the upcoming years.
Biosimilars is expected to witness the lucrative growth over the forecast period. Growing demand for biosimilars in the emerging economies and the availability of these products at the lower price are further boosting the market growth.
North America is currently dominating the rheumatoid arthritis therapeutics market in the region. This is attributed to the couple of factors such as growing prevalence of rheumatoid arthritis patients, strong clinical pipeline, favorable reimbursement policies, high healthcare infrastructure. Moreover, rising healthcare spending and growing approval of novel drugs are some of the factors that are propelling the market growth.
Asia Pacific is expected to witness lucrative growth over the forecast period. This is owing to rising healthcare spending and favorable regulatory policies for biosimilars in the region, that are major key factors contributing to the market growth.
Few of the key companies operating in rheumatoid arthritis therapeutics market include AbbVie, Regeneron Pharmaceuticals, Inc., Novartis International AG, Pfizer Inc., Bristol-Myers Squibb., Hoffmann-La Roche AG, Johnson & Johnson, Boehringer Ingelheim GmbH, UCB S.A., and Amgen Inc. Key companies in the market are constantly focusing on the development and launch of novel biologics in order to gain a competitive edge and maintain their position in the market.
Rheumatoid Arthritis Therapeutics Market by Drug Type, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Boehringer Ingelheim GmbH
- Novartis International AG
- Regeneron Pharmaceuticals, Inc.
- Pfizer Inc.
- Bristol-Myers Squibb.
- Hoffmann-La Roche AG
- UCB S.A.
- Johnson & Johnson.
- Amgen Inc.
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