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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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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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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
- 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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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Drug Class
Market Segmentation by Type
Market Segmentation by Geography
Drivers, Challenges, & Trends
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