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Rheumatoid Arthritis Drugs Market to grow by USD 16.04 billion from 2023 to 2028; North America to account for 39% of market growth- Technavio

NEW YORK, Dec. 4, 2023 /PRNewswire/ -- The rheumatoid arthritis drugs market is expected to grow by USD 16.04 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of  7.5% during the forecast period, according to Technavio Research. The market is segmented by drug class (disease-modifying anti-rheumatic drugs, nonsteroidal anti-inflammatory drugs, and corticosteroids), type (biologics and small molecules), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America accounts for 39% of the growth of the global market during the forecast period. North America is a prominent market with the existence of leading market players for RA drugs, such as AbbVie, Amgen, and Johnson and Johnson. The initiatives by organizations, such as the National Institute of Arthritis and Musculoskeletal and Skin Diseases and the North American College of Rheumatology are other factors that contribute to the significant market share of North America. Hence, such factor drives the market growth in North America.

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Company Profile:

AbbVie Inc., Amgen Inc., Astellas Pharma Inc., Bristol Myers Squibb Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Galmed Pharmaceuticals Ltd., Genor Biopharma Holdings Ltd., Gilde Healthcare, Gilead Sciences Inc., GlaxoSmithKline Plc, Johnson and Johnson, Kangstem Biotech Co. Ltd., Novartis AG, Oryn Therapeutics, Pfizer Inc., Sanofi, Sorrento Therapeutics Inc., Taisho Pharmaceutical Holdings Co. Ltd., and UCB SA

AbbVie Inc: The company offers rheumatoid arthritis drugs namely Rinvoq that demonstrate both strong clinical performance and benefits to patients

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Rheumatoid Arthritis Drugs Market: Segmentation Analysis

  • The market share growth by the disease-modifying anti-rheumatic drugs segment is significant during the forecast period. Disease-modifying anti-rheumatic drugs (DMARDs) mainly comprise methotrexate, sulfasalazine, leflunomide, etanercept, and infliximab. In addition, Nonsteroidal anti-inflammatory drugs (NSAIDs) and DMARDs both relieve the symptoms of active rheumatoid arthritis, but only DMARDs have been proven to affect the course of the illness and improve radiological results. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth.

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"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Rheumatoid Arthritis Drugs Market: Driver & Trend:

  • Rising cases of RA and the focus on an increasing number of rheumatologists drive the market growth. The high number of cases of RA is expected to fuel the growth of the rheumatoid arthritis drugs market globally. Moreover, there are various associations that include rheumatology specialists, including the Indian Rheumatology Association (IRA). Furthermore, IRA aims to fight against arthritis by means of regular scientific workshops, conferences, symposia, and special interest groups. Such associations are increasingly emerging across the world which drives the market growth.
  • Availability of improved diagnostic modalities
  • Need for affordable biologics for RA

Trend -

  • The use of biologics/biosimilars for the treatment of RA is the primary trend driving the market growth. The biologics have targeted mechanisms of action and serve as profitable molecules for the successful treatment of RA.  In addition, biosimilars, which are replicas of biologics, are available at low prices and will likely invade the rheumatoid arthritis drugs market. Hence, such factors are driving the market growth.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Drug Class

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

By: PR Newswire Association LLC. - 04 Dec 2023
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