Global Rheumatoid Arthritis Therapeutics Market Overview
The burden of rheumatoid arthritis (RA), a chronic, progressive, and currently incurable autoimmune disease that primarily affects the joints. It is estimated to affect approximately 4.9 million people across the major markets. It is costly to healthcare services and leads to substantial economic and quality of life impairments for patients. Rheumatoid Arthritis Therapeutics Market accounted for US$ 25.7 billion in 2019 and is estimated to be US$ 39.8 billion by 2029 and is anticipated to register a CAGR of 4.5%
Impact of Covid-19 pandemic on market
The spread of coronavirus infection in countries worldwide has unexpectedly and rapidly increased from the first report of the outbreak in Wuhan, China, in December 2019. Currently, urgent initiatives and focus to develop a vaccine are ongoing in various countries globally. Trials for hydroxychloroquine are just beginning. Its toxicity, safety profile, and evidence-based clinical effectiveness against the virus are yet to be determined. India manufactures the majority share of hydroxychloroquine volume, and estimates for 70% of worldwide supply. Demand for hydroxychloroquine is projected to continue to increase as they search for a vaccine, treatment, and cure progresses, and focus on battling the COVID-19 intensifies. The report will account for Covid19 as a key market contributor.
Global Rheumatoid Arthritis Therapeutics Market Drivers & Restraints
Rising efficacy of the drugs in the treatment of rheumatoid arthritis
Globally, the increasing prevalence of rheumatoid arthritis therapeutics. The launch of the therapeutic agents and favorable reimbursement policies for the high-cost treatment products are the major propelling factor for the growth of the target market. This growth driver is probable to have a huge impact in the short and medium-term of the estimated period. Additionally, it shows improvement in diagnosis and prevention in rheumatoid arthritis is the driving factor for the growth of the target market. As per the WHO (World’s Health Organization), more than 23 million people in the world live with rheumatoid arthritis. The world’s Health Organization also highpoints the fact that two times as many women are affected by the disease than men, with the prevalence difference between 0.3% and 1% globally.
However, the high cost of rheumatoid arthritis therapeutics limits the growth of the target market.
Global Rheumatoid Arthritis Therapeutics Market Segmentations & Regional Insights
The rheumatoid arthritis therapeutics market is segmented based on product type, distribution channel, and region.
On the basis of product type, the rheumatoid arthritis therapeutics market is segmented into biologics and non-biologics. On the basis of the distribution channels, the global market is classified into hospital pharmacy, retail pharmacy, and online pharmacy.
Regional Insights:
In the region, the rheumatoid arthritis therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region is projected to lead the market owing to the increasing prevalence of rheumatoid arthritis therapeutics, and also due to rise in awareness about the disorders among the population. Additionally, the Europe region anticipates the significant growth for the global rheumatoid arthritis therapeutics market during the forecast period. The rise in penetration of rheumatoid arthritis treatment drug, and also rise in healthcare infrastructure in the European countries is anticipated the positive impact on the consumption of the rheumatoid arthritis therapeutics.
Attribute |
Details |
The base year for estimation |
2019 |
Forecast period |
2019 – 2029 |
Market representation |
Revenue in USD Million & CAGR from 2019 – 2029 |
Market Segmentation |
By Product Type- Biologics and Non-Biologics By Distribution Channel– Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global rheumatoid arthritis therapeutics market report based on product type, distribution channel, and region.
Rheumatoid Arthritis Therapeutics Market, By Product Type:
- Biologics
- Non-Biologics
Rheumatoid Arthritis Therapeutics Market, By Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Rheumatoid Arthritis Therapeutics Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global Rheumatoid Arthritis Therapeutics Market Competitive Landscape & Key Players
The key players operating in the rheumatoid arthritis therapeutics market Unichem Laboratories, Gilead Sciences, Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, UCB S.A., Bristol-Myers Squibb Company, Amgen Inc., Pfizer Inc., Celgene Corporation and Johnson and Johnson Services Inc. Key players across the globe are highlighting new innovations to develop effective and safe drugs in the market. For instance, in April 2017, Unichem Laboratories receives approval from the US FDA for Piroxicam capsules for the treatment of osteoarthritis and rheumatoid arthritis.
Global Rheumatoid Arthritis Therapeutics Market Company Profile
- Unichem Laboratories
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche AG
- Eli Lilly and Company,
- UCB S.A.
- Bristol-Myers Squibb Company
- Amgen Inc.
- Pfizer Inc.
- Celgene Corporation
- Johnson and Johnson Services Inc.
“*” marked represents similar segmentation in other categories in the respective section
Global Rheumatoid Arthritis Therapeutics Market Highlights
FAQs
The global rheumatoid arthritis therapeutics market is segmented based on product type, distribution channel, and region.
Globally, the increasing prevalence of rheumatoid arthritis therapeutics. The launch of the therapeutic agents and favorable reimbursement policies for the high-cost treatment products are the major propelling factor for the growth of the target market.
The North American region is projected to lead the market owing to the increasing prevalence of rheumatoid arthritis therapeutics, and also due to rise in awareness about the disorders among the population.
The key players operating in the global rheumatoid arthritis therapeutics market Unichem Laboratories, Gilead Sciences, Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, UCB S.A., Bristol-Myers Squibb Company, Amgen Inc., Pfizer Inc., Celgene Corporation and Johnson and Johnson Services Inc.