Global Rheumatoid Arthritis Market Size, Share, and COVID-19 Impact Analysis, By Molecule Type (Biopharmaceuticals (Biologics, Biosimilars), Pharmaceuticals), By Sales Channel (Prescription, OTC), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Rheumatoid Arthritis Market Insights Forecasts to 2030
- The Rheumatoid Arthritis Market was valued at USD 6.1 billion in 2021.
- The market is growing at a CAGR of 3.2% from 2022 to 2030
- The global Rheumatoid Arthritis Market is expected to reach USD 6.9 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period
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The global Rheumatoid Arthritis Market is expected to reach USD 6.9 billion by 2030, at a CAGR of 3.2% during the forecast period 2022 to 2030.
Rheumatoid arthritis is a condition that causes pain and inflammation in joints. It affects persons of all ages; however, the geriatric group is especially susceptible to develop this disease. Pain, stiffness, tenderness, and swelling of the joints are signs of rheumatoid arthritis. Rheumatoid arthritis does not currently have a cure. Nonetheless, certain treatments are utilised to efficiently regulate the symptoms of rheumatoid arthritis, which include disease-modifying anti-rheumatic drugs (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and uric acid drugs.
This research report categorizes the market for Rheumatoid Arthritis Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Rheumatoid Arthritis Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Rheumatoid Arthritis Market.
Global Rheumatoid Arthritis Market Report Coverage
|Market Size in 2021:||USD 6.1 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||3.2%|
|2030 Value Projection:||USD 6.9 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||122|
|Segments covered:||By Molecule Type, By Sales Channel, By Region|
|Companies Covered:||Pfizer Inc., Abbvie Inc., Novartis AG, Amgen Inc., Boehringer Ingelheim International GmbH., Merck & Co Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., AstraZeneca, Ampio Pharmaceuticals Inc., Lilly|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The major factors driving growth of the rheumatoid arthritis drugs market are the rise in rheumatoid arthritis prevalence, rise in demand for rheumatoid arthritis drugs, expiration of patents & the entry of biosimilar drugs, increase in the geriatric population, increase in adoption of conventional DMARDs, and government initiatives to increase awareness of rheumatoid arthritis symptoms. In addition, advances in advanced biologics, rise in healthcare spending, improvement in buying power, and availability to quality pharmaceuticals to poor & middle-class families internationally are some other aspects that contribute towards growth of the market. Globally, the average life expectancy is rising, which has resulted in a rise in the number of people who are getting older. By raising the disease's prevalence and stimulating per capita demand for its treatments, this trend benefits the industry. Recent pre-clinical studies have demonstrated that combination is significantly capable of reducing joint pathology in the murine experimental arthritis model. Therefore it makes sense that TNF inhibitors and an anti-IL-17 antibody would be used in the future. Additionally, new age of bi-specific antibodies is predicted to propel market expansion during the forecast period.
During the course of the projection period, the global rheumatoid arthritis market's expansion may be restrained by a shortage of trained professionals who are unable to provide the treatments. During the course of the projection period, the global rheumatoid arthritis market's expansion may be restrained by a shortage of trained professionals who are unable to provide the treatments.
- In 2021, the biopharmaceutical segment is dominating the market over the forecast period.
On the basis of molecule type, the global rheumatoid arthritis market has been segmented into biopharmaceuticals and pharmaceuticals. Among these, the biopharmaceutical segment is dominating the market with the largest market share over the forecast period. The market is anticipated to overtake its rival in terms of share, maintaining its dominance until 2030. Medications are typically utilised as the first line of treatment for this disease. Yet, due to biopharmaceuticals' higher therapeutic output and disease remittance action, their demand is lower than that of biopharmaceuticals. Biologics and biosimilars are subcategories of biopharmaceuticals. Physicians prefer biologic medications to biosimilars when treating RA, and biologic pharmaceuticals are expected to rule the market for the duration of the projection period.
- In 2021, the OTC segment accounted the largest market share over the forecast period.
Based on the sales channel, the global rheumatoid arthritis market has been segmented into prescription and OTC. Among these, the OTC segmented holds the largest market share over the forecast period. The increase in knowledge of new disease-reversal therapeutic alternatives is what caused the shift. The prescription segment is projected to dominate the rheumatoid arthritis medications market over the forecast period owing to increased rheumatologist consultations. Patients with RA should see rheumatologists and adhere to recommended therapy because prolonged misuse of RA medications may result in drug resistance. Also, there aren't many over-the-counter (OTC) drugs accessible for treatment.
Regional Segment Analysis of the Rheumatoid Arthritis Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is dominating the market with the largest market share over the forecast period.
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North America accounted for more than 56.5% of the rheumatoid arthritis market in 2030. The region is expanding as a result of increased patient awareness of disease remittance treatments, rising RA prevalence, and high public and private healthcare spending. Moreover, simple access to quality healthcare, good reimbursement policies, robust clinical pipeline, and approval of innovative pharmaceuticals are predicted to support revenue growth in North America.
The report offers the appropriate analysis of the key organizations/companies involved within the global Rheumatoid Arthritis Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Pfizer Inc.
- Abbvie Inc.
- Novartis AG
- Amgen Inc.
- Boehringer Ingelheim International GmbH.
- Merck & Co Inc.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceuticals Industries Ltd.
- Ampio Pharmaceuticals Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global Rheumatoid Arthritis Market based on the below-mentioned segments:
Rheumatoid Arthritis Market, By Molecule Type
Rheumatoid Arthritis Market, By Sales Channel
Rheumatoid Arthritis Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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