The global market for rheumatoid arthritis treatments is expected to grow at a CAGR of 5% during the forecast period of 2024 to 2032. Rheumatology is the branch of internal medicine that deals with the diagnosis and treatment of rheumatic illnesses. Rheumatic disorders are characterized by joint, tendon, ligament, bone, and even organ inflammation. These conditions are commonly known as musculoskeletal illnesses and are characterized by significant pain, deformity, and morbidity. The procedure is typically very pricey. Multiple types of rheumatic diseases with varying symptoms are prevalent around the world in all age groups. The increasing incidence of rheumatoid arthritis is driving the expansion of the rheumatic treatment industry. Increased adoption of biopharmaceuticals and the availability of well-defined regulatory requirements in developed economies are among the key trends that are anticipated to drive market expansion. The development in awareness regarding the early detection and treatment of rheumatology disease symptoms and the increasing usage of disease-modifying anti-rheumatic medicines (DMARDs) for the treatment of the respective disease are the primary factors driving the growth of the rheumatology therapeutics market.
Increasing Innovations and Strong Drug Pipeline to Drive the Market
The increasing quantity of small molecules in the drug development pipeline, which is less expensive than biologics, has a positive impact on the rheumatic therapeutics market. In addition, the market for rheumatology therapeutics is positively impacted by an increase in the geriatric population, technological advancements in the pharmaceutical sector, rising investments in the healthcare industry, and an increase in the healthcare expenditures of the middle-income population. In addition, a rise in the pace of launches of novel biologics drugs, an increase in approvals, and a rise in the penetration of generic drugs will create lucrative prospects for market participants in the rheumatic therapeutics market during the forecast period. On the other side, high treatment costs and increased demand for biosimilar drugs are projected to hinder the growth of the rheumatology therapeutics market. During the forecast period, the market for rheumatology therapeutics is anticipated to witness challenges such as patent expiration of renowned medications used to treat rheumatic illnesses.
Increasing Prevalence of Rheumatic Illnesses
The Centers for Disease Control and Prevention have anticipated that by 2040, approximately 78 million US individuals (26% of the population) would be diagnosed with rheumatic disease. Osteoarthritis is the most prevalent kind, affecting around 26 million US adults2, followed by gout and fibromyalgia. Approximately 1.3 million US people have been diagnosed with rheumatoid arthritis, and between 200,000 and 300,000 have lupus4, not to add vasculitis and myositis, which primarily affect regions of the body other than the joints. However, the introduction of biosimilars represents a significant market constraint for rheumatic therapies. Increasing demand for biosimilars may impede the effectiveness of the conventional medicine routinely used to treat rheumatic illnesses. The expiration of patents on several medications used in the treatment of rheumatic illnesses also hinders the expansion of the market for rheumatology treatments.
Biopharma to Overtake Pharma Segment During the Forecast Period
Based on medicine type, the pharmaceuticals section, which includes analgesics, nonsteroidal anti-inflammatory drugs, and others, would account for significant growth during the forecast period from 2023 to 2030. Nonsteroidal anti-inflammatory drugs (NSAIDs) are widely used for the symptomatic treatment of rheumatic disorders characterized by a variety of acute and chronic musculoskeletal pain. The primary impact of these medications is to reduce acute inflammation, hence lowering pain and enhancing general function. According to studies, in certain circumstances, smaller doses of NSAIDs are useful in reducing inflammation in RS. However, during the forecast period, the biopharma segment is expected to earn over 55% of the market share. Primarily, pharmaceuticals are utilized as the initial treatment for this condition. However, compared to biopharmaceuticals, their demand is expected to minimize due to the latter's greater therapeutic efficacy and disease-reversing properties. The division of biopharmaceuticals into biologics and biosimilars. For the treatment of RA, physicians prefer biologic medications over biosimilars, and biologics are expected to continue to dominate the market during the forecast period. Throughout the projected period, biologic pharmaceuticals are anticipated to account for the largest revenue share in developed nations. In developing nations, such as Brazil, Mexico, and South Africa, however, these treatments face significant competition from biosimilars and pharmaceutical generics due to the high cost of biologics. The segment's expansion is bolstered by increased availability, favorable outcomes, and affordable prices. During the forecast period, the introduction of new biosimilars is likely to cause a dramatic shift in prescription patterns.
Prescription Segment to Dominate During the Forecast Period
In recent years, there has been a dramatic increase in the number of people who prefer prescription drugs to over-the-counter drugs. The cause of the change is the increased awareness of novel illness-reversal treatment possibilities. Due to rising rheumatologist consultations, the prescription segment is expected to dominate the rheumatoid arthritis medications market over the forecast period. In order to avoid developing drug resistance, people with rheumatoid arthritis are encouraged to contact rheumatologists and adhere to their prescribed treatment. In addition, there are few over-the-counter treatments available. OTC medications contain a variety of active components, including acetaminophen and diclofenac.
Due to the approval of innovative treatments with fewer bad effects and rising awareness of disease remission prescription medicines for arthritis, the market share of these over-the-counter (OTC) drugs is anticipated to decline over the projection period. In addition, chronic use of over-the-counter medications for pain management may have major side effects, such as liver damage and addiction.
Online Sales Channel to Witness the Largest Growth During the Forecast Period
Regarding the sales channel, the online pharmacy market is projected to experience exponential growth. This can be attributed to the expanding e-commerce business and increased desire for online pharmaceutical sales in the wake of the COVID-19 outbreak. Increasing smartphone and internet penetration contribute to the expansion of the market sector. In addition, the availability of discounts and multiple products on several platforms would provide consumers with options, thereby strengthening the business environment.
North America Remains as the Global Leader
In 2021, North America accounted for more than 45.0% of the market for rheumatoid arthritis treatments. Patients' increased awareness of disease remission therapy, the increasing prevalence of rheumatoid arthritis, and the region's high public and private healthcare expenditures are driving the region's economic expansion. In addition, simple access to high-quality healthcare, advantageous reimbursement policies, a robust clinical pipeline, and the approval of innovative pharmaceuticals are anticipated to contribute to revenue growth in North America. The United States is at the forefront of growth in the region and a major contributor to global revenue. Rheumatoid arthritis affects approximately 860 out of every 100,000 people in the country. In price-sensitive nations such as Latin America and the Middle East and Africa, generic medications are more widely accepted than biologics developed by originator companies. During the projection period, the regional markets are expected to expand due to the rising need for innovative disease reversal treatments.
Asia-Pacific is projected to have the highest CAGR during the forecast period. Increasing urbanization is resulting in a growing patient population in the region. This, coupled with rising healthcare expenditures, is anticipated to push the APAC market. It is anticipated that favorable regulatory regulations for biosimilars will increase demand for therapeutics over the projected period.
Innovation and Strong Drug Pipeline to Enhance the Market Share
Due to the price-sensitive nature of the population in developing nations, only a few companies offer both branded and generic pharmaceuticals. To consolidate their position, businesses are focusing on developing unique chemical entities and inventive compounds. 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. are notable market participants. The introduction of innovative biologics and a robust clinical pipeline are expected to increase market competitiveness. Due to the low entry barriers in the RA medicines industry, the generic pharmaceuticals segment is set for new players.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Rheumatology Arthritis Therapeutics market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
