The global market for rheumatoid arthritis treatments is anticipated to expand at a CAGR of 5% during the forecast period 2023 and 2030. Rheumatology is the internal medicine specialty concerned with the diagnosis and treatment of rheumatic diseases. Rheumatic illnesses are characterized by inflammation of the joints, tendons, ligaments, bones, and even organs. Commonly known as musculoskeletal diseases, these ailments are characterized by severe pain, deformity, and morbidity. Typically, the surgery is quite expensive. Multiple types of rheumatic diseases with diverse symptoms are prevalent in all age groups throughout the world. The increasing prevalence of rheumatoid arthritis is propelling the growth of the rheumatic therapies market. Increased use of biopharmaceuticals and the availability of well-defined regulatory requirements in developed economies are among the key developments expected to fuel market growth. The expansion of knowledge regarding the early detection and treatment of rheumatology disease symptoms and the increasing use of disease-modifying anti-rheumatic drugs (DMARDs) for the treatment of the respective disease are the key drivers driving the rheumatology therapeutics market.
The increasing number of less expensive small molecules in the drug development pipeline has a beneficial effect on the rheumatic therapies market. Additionally, the market for rheumatology therapeutics is positively affected by an increase in the geriatric population, technological advancements in the pharmaceutical industry, rising investments in the healthcare industry, and an increase in the healthcare expenditures of the middle-income population. During the projection period, an increase in the rate of launches of novel biologics medications, an increase in approvals, and an increase in the penetration of generic drugs would generate profitable opportunities for market participants in the rheumatic therapies market. The market for rheumatology treatments is anticipated to be restrained by high treatment costs and rising demand for biosimilar medications. During the projected period, the market for rheumatology therapeutics is expected to face obstacles such as the expiration of patents on well-known drugs used to treat rheumatic diseases.
The Centers for Disease Control and Prevention estimate that roughly 78 million Americans (26% of the population) will be diagnosed with a rheumatic disease by the year 2040. Osteoarthritis affects around 26 million American adults2, followed by gout and fibromyalgia. Approximately 1.3 million persons in the United States have been diagnosed with rheumatoid arthritis, and between 200,000 and 300,000 have lupus, not to mention vasculitis and myositis, which primarily affect body regions other than the joints. Nevertheless, the emergence of biosimilars is a substantial market limitation for rheumatic therapy. Increasing demand for biosimilars may diminish the efficacy of the conventional medication frequently employed to treat rheumatic diseases. The expiration of patents on various drugs used to treat rheumatic diseases also impedes the growth of the rheumatology treatments market.
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The pharmaceuticals area, which includes analgesics, nonsteroidal anti-inflammatory medicines, and others, would account for a significant increase between 2023 and 2030, according to the forecasts. Widespread use of nonsteroidal anti-inflammatory medicines (NSAIDs) for the symptomatic treatment of rheumatic illnesses characterized by acute and persistent musculoskeletal pain. The major effect of these drugs is to diminish acute inflammation, thereby alleviating pain and improving general function. According to studies, lesser doses of NSAIDs are effective in decreasing inflammation in RS under certain conditions. During the projection period, however, the biopharma segment is anticipated to account for more than 55 percent of the market. As the initial treatment for this illness, medications are primarily employed. As a result of the improved therapeutic efficacy and disease-reversing qualities of biopharmaceuticals, the need for traditional medications is predicted to decrease. The classification of biopharmaceuticals as biologics or biosimilars. Physicians favor biologic drugs over biosimilars for the treatment of rheumatoid arthritis, and biologics are projected to continue to dominate the market during the projection period. During the predicted timeframe, biological drugs are expected to account for the biggest percentage of sales in developed nations. In developing nations, such as Brazil, Mexico, and South Africa, however, the high cost of biologics creates stiff competition from biosimilars and pharmaceutical generics. The segment's growth is supported by increasing availability, favorable outcomes, and inexpensive prices. the launch of new biosimilars is anticipated to produce a significant shift in prescription patterns during the projection period.
In recent years, the number of people who prefer prescription drugs to over-the-counter drugs has increased dramatically. The change is a result of a growing understanding of novel therapy options for reversing disease. The prescription sector is likely to dominate the market for rheumatoid arthritis drugs over the forecast period, as rheumatologist consultations rise. People with rheumatoid arthritis are encouraged to contact rheumatologists and stick to their prescribed medication in order to prevent the development of drug resistance. In addition, few over-the-counter remedies are available. There are numerous active ingredients in over-the-counter drugs, including acetaminophen and diclofenac. Over the forecast period, the market share of these over-the-counter (OTC) products is expected to fall due to the approval of novel treatments with fewer side effects and the increased awareness of disease remission prescription medications for arthritis. In addition, continuous use of over-the-counter drugs for pain treatment may result in serious side effects, including liver damage and addiction.
The online sales channel will experience the greatest expansion during the forecast period. Regarding the distribution route, the online pharmacy business is anticipated to expand exponentially. In the wake of the COVID-19 outbreak, this can be related to the expansion of e-commerce businesses and the increased demand for online pharmaceutical sales. Increased smartphone and internet penetration contribute to the sector's expansion. In addition, the availability of discounts and numerous products across multiple platforms will give consumers options, thereby enhancing the business climate.
In 2021, more than 45.0% of the market for rheumatoid arthritis treatments was generated in North America. Greater patient awareness of disease remission therapies, the rising prevalence of rheumatoid arthritis, and the region's high public and private healthcare expenditures are driving the region's economic growth. Additionally, simple access to high-quality healthcare, favorable reimbursement rules, a robust clinical pipeline, and the approval of novel drugs is expected to contribute to revenue growth in North America. The United States is a big provider of global revenue and a leader in regional expansion. Rheumatoid arthritis affects roughly 860 persons per 100,000 in the United States. In price-sensitive regions such as Latin America, the Middle East, and Africa, generic drugs are more popular than biologics created by originator corporations. Due to the increased demand for innovative disease reversal treatments, regional markets are anticipated to expand during the forecast period. The Asia-Pacific region is anticipated to have the greatest CAGR over the projection period. The region's patient population is expanding as a result of urbanization. This, together with rising healthcare costs, is expected to drive the APAC market. It is expected that favorable regulatory requirements for biosimilars will raise the demand for therapies over the forecast period.
Due to the price sensitivity of the population in developing nations, only a small number of pharmaceutical companies sell both brand-name and generic drugs. To bolster their standing, corporations are concentrating on the creation of novel chemical entities and imaginative substances. Notable market participants include AbbVie, Boehringer Ingelheim GmbH, Novartis AG, Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., UCB S.A., Johnson & Johnson Services, Inc., and Amgen, Inc. It is anticipated that the launch of novel biologics and a solid clinical pipeline will boost market competition. Due to the low hurdles to entry in the RA pharmaceuticals business, the generic pharmaceuticals market is ripe for new entrants.
