Home > Healthcare & Medical Devices > Rheumatoid Arthritis Therapeutics Market
Rheumatoid Arthritis Therapeutics Market size is anticipated to witness significant growth from 2023 to 2032 driven by the surging prevalence of arthritis.
According to the Centers for Disease Control & Prevention (CDC), by 2040, 44% of the adult population suffering from arthritis will report activity limitations, whereas 78 million adults in the U.S. may have doctor-diagnosed arthritis. The growing burden of bone-related disorders will also propel the demand for rheumatoid arthritis (RA) therapeutics worldwide. Additionally, the rising geriatric population will further accelerate the need for musculoskeletal care, adding to the market growth.
Several biopharmaceutical and healthcare firms are introducing novel R&D initiatives and clinical trials to advance the space of arthritis care. For instance, in September 2022, Navidea Biopharmaceuticals, Inc. launched nine additional sites in line with its NAV3-33 Phase 3 clinical trial for patients with moderate to severely active RA. It also established a total of 12 sites to boost patient enrollment and data accumulation.
However, the RA therapeutics market witnessed unprecedented challenges with the outbreak of COVID-19 followed by the Russia-Ukraine war. The pandemic increased the need for treating the infection and thus reduced the production of RA therapeutics, while the invasion caused massive supply chain disruptions. Nevertheless, the growing inclination for online purchases of RA pills and analgesics will help boost industry growth over the upcoming period.
Based on drug, the pharmaceuticals segment comprising NSAIDs, analgesics, and others is estimated to account for a significant revenue share in the rheumatoid arthritis therapeutics industry over 2032. The segment growth can be accredited to the surging demand for nonsteroidal anti-inflammatory agents (NSAIDs) for the symptomatic management of RA conditions based on the form of acute pain and chronic musculoskeletal signs.
With regards to sales channel, the rheumatoid arthritis therapeutics market share from the online pharmacy segment is projected to increase substantially over 2032 due to the expanding e-commerce sector worldwide. The increasing inclination of customers to fulfill their pharmaceutical needs through online drug stores in the post-pandemic era will anchor the industry trends.
Digital shopping offers utmost convenience and various medical options to customers for catering to their specific needs. The surging emphasis of various e-commerce giants on leveraging ongoing digitization to enter the healthcare business will also accelerate the market dynamics. For instance, in April 2022, Walmart-owned Flipkart launched the Flipkart Health Plus app to accommodate more than 500 independent sellers and boost access to drugs.
Europe rheumatoid arthritis therapeutics market is estimated to showcase a notable trajectory from 2023 to 2032 led by the rising number of patients suffering from arthritis in countries such as Germany, and the U.K. As per a 2020 study conducted by the National Institute for Health & Care Excellence (NICE), RA affects nearly 3.6 women, and 1.5 men per 10,000 people in the U.K. every year. The expansion of the industry in Europe will also be driven by rising pipeline drugs, a large number of R&D projects, and the presence of giant pharma companies.
The competitive landscape of the global rheumatoid arthritis therapeutics market comprises Pfizer Inc., Hoffmann-La Roche AG, Johnson & Johnson, AbbVie, Bristol-Myers Squibb, Novartis International AG, Regeneron Pharmaceuticals, Inc, and Amgen Inc., amongst others. These competitors are focusing on the development of novel products to achieve technological expertise.