The rheumatoid arthritis market size is expected to reach USD 85.9 billion by 2030 at 4.2% CAGR during the forecast period 2022-2030. Rheumatoid arthritis is a kind of condition that causes inflammation and pain in the joints. This disease affects people of all ages, although the elderly population is particularly vulnerable to the condition. Rheumatoid arthritis symptoms include joint pain, stiffness, tenderness, and swelling. It can be seen that there is currently no cure for rheumatoid arthritis. Certain medications, such as disease-modifying anti-rheumatic drugs (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and uric acid treatments, are used to effectively control the symptoms of rheumatoid arthritis.
Rheumatoid arthritis is an autoimmune disease that causes inflammation in the body's joints. Muscles, fibrous tissues, tendons, and connective tissues are all affected as the condition advances. Rheumatoid arthritis impairs day-to-day activities, such as domestic chores and work, and increases the risk of death. According to certain findings, people who smoke frequently are at an increased risk of developing rheumatoid arthritis. Leading firms throughout the world are acquiring companies that are dealing with a high number of product recalls maintaining rheumatoid arthritis market position.
The World Health Organization (WHO) declared the COVID-19 outbreak a public health emergency of worldwide significance on January 30, 2020. There were around 210 countries that have been affected by COVID-19. Patients with rheumatoid arthritis who contract COVID-19 infection, according to the Lancet Rheumatology 2020, are at significant risk of developing severe symptoms and consequences which will lead to increased Rheumatoid arthritis Market Size. COVID-19 is being studied as a potential therapy with some DMARDs routinely used to treat rheumatoid arthritis, such as hydroxychloroquine medication. Other commonly used medications, such as biologics targeting interleukin (IL)-6 (sarilumab, tocilizumab) and IL-1 (anakinra), are also being studied in COVID-19 patients. As a result, COVID-19 infection boosted rheumatoid arthritis medicine manufacturers' growth prospects during the Rheumatoid arthritis Market Forecast period.
Rheumatoid Arthritis Market Dynamics
The growing prevalence of rheumatoid arthritis is mostly due to the aging population. Additionally, some data suggest that smokers have a higher chance of getting rheumatoid arthritis. The rise in rheumatoid arthritis prevalence, increased demand for rheumatoid arthritis drugs, patent expiration and the entry of biosimilar drugs, increase in the geriatric population, increased adoption of conventional DMARDs, and government initiatives to spread awareness for rheumatoid arthritis symptoms are the major factors driving the rheumatoid arthritis market growth. In addition, advances in advanced biologics, an increase in healthcare spending, an increase in purchasing power, and global access to high-quality pharmaceuticals for poor and middle-class families are all factors that contribute. The rheumatoid arthritis medications market, on the other hand, is expected to grow rapidly and change the market outlook due to increased knowledge about the early screening and treatment of rheumatoid arthritis
However, medication-related adverse effects and the high prices of biological DMARD therapy are projected to be the global rheumatoid arthritis market trend's main limitations. The most significant market constraint is the high cost of medications, as therapy is far more expensive and the average individual cannot afford it where this disease has no proper cure. Lack of awareness, particularly in developing countries, is expected to pose a challenge to the rheumatoid arthritis market.
Rheumatoid arthritis treatment is in high demand due to the rising prevalence of arthritis and associated joint issues. Rheumatoid arthritis is on the rise as a result of a move toward an unhealthy lifestyle, an increase in metabolic disorders and age, a family history of joint disease, and increased obesity. To strengthen their position in this market, manufacturers are working on forming alliances with other companies. New technologies to improve the therapeutic potential of antibodies, such as bi-specific antibodies, and novel targets, such as JAK enzymes, have given rheumatoid arthritis therapy providers new options. The majority of significant players have combination DMARD medicines in development, and the majority of these projects involve combining new/existing biologic therapy with adalimumab, the world's most popular anti-rheumatic drug. Furthermore, the expansion and upgrading of well-developed healthcare infrastructure will be critical to the country's market development.
Rheumatoid Arthritis Market Segment Overview
The global rheumatoid arthritis market is segmented based on the following:
Based on the drug type, the market has been segmented as follows:
Based on the treatment, the market has been segmented as follows:
Based on the diagnosis, the market has been segmented as follows:
Rheumatoid Arthritis Market Regional Classification
Rheumatoid arthritis is the most common disease in North America. The rheumatoid arthritis market in North America is predicted to grow fast, reaching its peak by the end of the forecasted period. The rheumatoid arthritis market in Europe is the second-largest market in the world, and it is predicted to increase significantly in the next years. Furthermore, the Asia-Pacific market for rheumatoid arthritis is predicted to increase at the quickest rate. Due to the large population base susceptible to rheumatoid arthritis, increased public awareness of the use and benefits of these drugs, development of the R&D sector, rise in healthcare reforms, and increased adoption of rheumatoid arthritis drugs, Asia-Pacific presents lucrative opportunities for key players operating in the rheumatoid arthritis drugs market. Furthermore, the market is expected to develop as demand for DMARDs rises and the geriatric population grows. Furthermore, major manufacturers' increased focus on extending their geographical presence in rising Asia-Pacific countries to capture a larger part of the rheumatoid arthritis medications market is likely to fuel market expansion in the region.
Rheumatoid Arthritis Market Competitive Landscape
Companies in the industry are pursuing strategic partnerships and acquisitions with other manufacturers to expand their product manufacturing and meet the demands of an ever-growing patient pool. Manufacturers are also concentrating on diversifying their product portfolios by introducing new technologically advanced items and obtaining regulatory approval. The major key players of the Global Rheumatoid arthritis Market are as follows:
Pfizer announced in November 2019 that the FDA had approved its biosimilar, abriladaTM for a variety of inflammatory diseases including Rheumatoid arthritis.
Bayer AG stated in 2020 that it would expand its Beijing supply center by investing roughly USD 59 million in the construction of a new production and supply facility at Beijing Economic-Technological Development.
Cipla Ltd. purchased a 30% stake in Brandmed, a South African company, in April 2019 for business expansion. Cipla Medpro's portfolio will be enhanced by the acquisition, which combines the company's capabilities with Brandmed's creative, patient-centric approach to healthcare.
Rheumatoid Arthritis Market Report Overview
The study examines the size of the rheumatoid arthritis medications industry, as well as current trends and future projections, in order to identify potential investment opportunities. It provides a market study of rheumatoid arthritis medications, which is aimed to help stakeholders profit from the current opportunities in the rheumatoid arthritis drugs industry. To identify the current opportunities, a complete examination of four regions is offered. To comprehend the competitive perspective and global rheumatoid arthritis medications market growth, the profiles and growth strategies of the leading competitors are thoroughly examined. The report provides a thorough picture of the current market situation, including historical and projected rheumatoid arthritis market size in terms of value and volume, technical advancements, macroeconomic considerations, and market controlling factors. The report consists of detailed information and plans for the industry's top major players. Also, the report provides an overview of the various market categories and geographies.
|Market Size||USD 85.9 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||drug type, diagnosis and treatment|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Pfizer Inc (U.S), Eli Lilly and company (U.S), Bristol-Myers Squibb Company (U.S), F. Hoffmann-La Roche Ltd (switzerland), Novartis AG (switzerland), Vertex Pharmaceuticals Incorporated (U.S), Sanofi (France), AstraZeneca (U.K)|
|Key Market Opportunities||Joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments|
|Key Market Drivers||Increasing aging population|
global rheumatoid arthritis market is estimated to grow at approximately 4.2% CAGR during the review period (2022-2030).
Eli Lilly and company (US), Pfizer Inc. (US), Bristol-Myers Squibb Company (US), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Vertex Pharmaceuticals Incorporated (US), AstraZeneca (UK), and Sanofi (France), are some of the major players operating in the rheumatoid arthritis market.
North America holds the largest share in the global rheumatoid arthritis market, followed by Europe and the Asia Pacific, respectively.
Huge investments for the development of products related to rheumatoid arthritis treatment and rise in the global economy that is widening the access to the quality care are the major tailwinds pushing the growth of the global rheumatoid arthritis market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global rheumatoid arthritis market adopt to gain a larger competitive advantage.