Rheumatoid Arthritis Therapeutics Market Trends and Insight 2027
The global Rheumatoid Arthritis Therapeutics market gathered revenue around USD 25.9 Billion in 2020 and market is set to grow USD 32.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.8% during the prediction period 2021 to 2027.
Growth Factors:
The key trends driving the market are availability of novel biologics, increase in potential clinical pipeline candidates, and rise in aging population. Thus, growing availability and awareness of safer drugs are projected to escalate rheumatoid arthritis drugs market growth.
Rheumatoid arthritis affects approximately 1% of the global population. The condition has different symptoms such as joint pain, swelling, and stiffness, which are generally accompanied by chronic pain and inability to perform daily activities. Over a prolonged period, this disorder can hamper a patient’s mobility and can lead to permanent joint damage. If left untreated, this disorder can lead to mobility impairment and risk of joint replacement.
Growing prevalence of the disease, presence of biologics & biosimilars, and well-defined regulatory guidelines are poised to provide a fillip to the market. According to the Arthritis Foundation, 64% of the population within the age group of 65 is likely to suffer from arthritis in U.S. Increasing awareness regarding disease remittance therapies and rising healthcare expenditure in developed regions are estimated to promote revenue growth.
Current treatment for rheumatoid arthritis includes generic pharmaceuticals such as NSAIDs and corticosteroids along with novel biologics such as JAK inhibitors and IL-6 antagonists, which are widely used in developed countries due to their high effectiveness. New product launches such as Infliximab and Adalimumab biosimilars are anticipated to work in favor of the market. Moreover, Eli Lilly’s Olumiant and AbbVie’s Upadacitinib are expected to cut down chances of disease remittance.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Rheumatoid Arthritis Therapeutics market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Rheumatoid Arthritis Therapeutics market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 32.9 Billion by 2027 |
| Growth Rate | CAGR of 6.8% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Molecule Type, Sales Channel and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | 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.. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Rheumatoid Arthritis Therapeutics market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America accounted for more than 57.2% of the rheumatoid arthritis therapeutics market in 2020. Heightened awareness of disease remittance therapies among patients, rising prevalence of RA, and high public and private healthcare spending are stimulating the growth of the region. Moreover, easy access to quality healthcare, favorable reimbursement policies, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.
The U.S. is at the forefront of growth in the region and is also an important revenue contributor in the global arena. An estimated 860 individuals out of every 100,000 in the country suffer from rheumatoid arthritis. Price-sensitive regions such as Latin America and MEA have higher acceptance of generic drugs as compared to innovator biologics due to lower price. Increasing demand for new treatment options for disease reversal is poised to augment the regional markets during the forecast period.
Asia Pacific is likely to post the highest CAGR between 2020 and 2027. Growing adoption of urban lifestyle is leading to expanding base of patients in the region. This, coupled with increasing healthcare spending, is expected to propel the market in APAC. Favorable regulatory policies for biosimilars are estimated to boost demand for therapies over the forecast period.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Rheumatoid Arthritis Therapeutics Market 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.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Rheumatoid Arthritis Therapeutics market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Rheumatoid Arthritis Therapeutics market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Rheumatoid Arthritis Therapeutics markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Rheumatoid Arthritis Therapeutics Market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers