Global Rheumatoid Arthritis Drugs Market: Key Takeaways
Rheumatoid arthritis is an autoimmune disorder that causes pain and inflammation in the joints. In this disease, the immune system mistakenly affects the joints, causing inflammation and pain in the joints throughout the body. Rheumatoid arthritis disease mostly affects the joints of the hand, wrists, elbows, knees, and ankles. Since rheumatoid arthritis also affects the cardiac and respiratory system, it is called a systemic disease. It usually affects the geriatric population, and the prevalence is higher in females as compared to males. Rheumatoid arthritis is also called a musculoskeletal disease, since it causes severe pain and deformity in one or more areas of the musculoskeletal system and in some indications, it exhibits symptoms of swelling, redness, and warmth in the affected areas.
Global Rheumatoid Arthritis Drugs Market: Forecast by Type
Several therapeutics and medication have been developed in recent years, to relieve and treat the symptoms of rheumatoid arthritis. Most commonly used drugs are disease modifying anti-rheumatic drugs (DMARDs), Nonsteroidal anti-inflammatory drugs (NSAID’s), corticosteroids, and biologic drugs. NSAIDs are widely utilized for the symptomatic treatment of rheumatic disorders. DMARDs are considered as the gold standard for the treatment of moderate to severe rheumatoid arthritis. Biologics account for a prominent market share, in terms of revenue, due to the considerably high cost of these medicines.
Global Rheumatoid Arthritis Drugs Market: Forecast by Application
The global rheumatoid arthritis drugs market can be segmented based on drug type, distribution channel, and geography. Furthermore, in terms of drug type, the market can be divided into disease-modifying anti-rheumatic drugs (DMARDs), non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and biologic response modifiers (biologics). The biologics segment is likely to account for a leading share of the global rheumatoid arthritis market in terms of revenue, during the forecast period, owing to the wide usage of drugs in severe rheumatoid disease. Biotechnological research and developments in rheumatoid arthritis drugs are estimated to boost the biologic drugs segment during the forecast period. Based on distribution channel, the market can be segmented into hospital pharmacy, retail pharmacy and online pharmacy. The hospital pharmacy segment is estimated to expand at a prominent growth rate during the forecast period, owing to the increase in number of hospitals and rise in preference of the geriatric patient population to undergo treatment at hospitals.
Global Rheumatoid Arthritis Drugs Market: Forecast by Region
In terms of geography, the global rheumatoid arthritis drugs market in Asia Pacific is likely to expand at a high CAGR between 2018 and 2026. Increase in the incidences of rheumatoid arthritis disease is projected to fuel the market in the region during the forecast period. The market in Asia Pacific is projected to witness high growth during the forecast period, due to increasing health care expenditure in the region. Moreover, low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to Asia Pacific from across the world.
Global Rheumatoid Arthritis Drugs Market: Key Players
A majority of rheumatoid arthritis drug products are being manufactured by key players covered in this report such as AbbVie, Inc., Janssen Biotech, Inc., Amgen, Inc., Pfizer, Inc., Novartis AG, Sanofi S.A., F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Bristol-Myers Squibb Company, and Eli Lilly and Company. The market leaders in this industry have established their position in the market and enjoy brand loyalty among customers. These manufacturers have a wide product range to offer and have an extensive distribution system across the world. Additionally, the emerging markets in Asia are witnessing the entry of small players. However, stringent regulatory framework and high quality standards set by the market leaders are likely to restrain the speed of market penetration by new entrants.
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