The global Rheumatoid Arthritis Therapeutics market size is expected to be worth around US$ xx billion by 2030, according to a new report by Vision Research Reports.
The global Rheumatoid Arthritis Therapeutics market size was valued at US$ 30.3 billion in 2020 and is anticipated to grow at a CAGR of 14.6% during forecast period 2021 to 2030.
Growth Factors
Increasing launches of novel biologics and rising penetration of generic drugs are estimated to provide a significant boost to the market. For instance, introduction of Olumiant by Eli Lilly and Company in 2017 is likely to fuel revenue growth in Japan. Similarly, Upadacitinib, a novel JAK1-selective inhibitor by AbbVie, is awaiting approval by 2019. Recently approved biologics such as Xeljanz and Kevzara are poised to have strong market penetration due to the presence of favorable reimbursement scenario.
Growing patient awareness regarding rheumatic disorders and influx of new biopharmaceuticals in the global arena are projected to rev up adoption of rheumatoid arthritis (RA) therapeutics. In 2013, approximately 52.2 million adults suffered from arthritis in the U.S. alone. Most patients who have been treated with Disease-Modifying Antirheumatic Drugs (DMARDs) remain unsatisfied due to poor therapeutic benefits. For this patient group, a combination of biologics and DMARDs is likely to deliver higher therapeutic benefits. Thus, the rheumatoid arthritis market is witnessing a shift toward combination therapies that provide enhanced results to patients. Rise in penetration of combination of DMARDs and biologics will boost market revenue in the coming years.
Report Highlights
On the basis of molecule type used for treatment, the global rheumatoid arthritis drugs market has been segmented into biopharmaceuticals and pharmaceuticals. The biopharmaceutical segment dominated the market in 2016, accounting for just over 57.0% of the total market. The segment is likely to make inroads in the share of its counterpart, thereby retaining dominance through 2025. Pharmaceuticals are primarily used as the first line treatment for this disorder. However, their demand is low as compared to biopharmaceuticals due to the latter’s higher therapeutic output and disease remittance action. Biopharmaceuticals have been further divided into biologics and . Biologic drugs are preferred to biosimilars by physicians for the treatment of RA and are anticipated to dominate the market throughout the forecast horizon.
Biologic drugs are estimated to represent the leading share in terms of revenue in developed economies throughout the forecast period. However, in developing countries such as Brazil, Mexico, and South Africa, these drugs face stiff competition from biosimilars and pharmaceutical generics owing to high prices of biologics.
On the other hand, demand for biosimilars is projected to witness an exponential rise in the coming years. Higher availability, positive results, and low price are supplementing the growth of the segment. Their demand is strong in emerging economies; nevertheless, they are also gradually gaining traction in developed countries due to launch of newer effective products. Biosimilars of Rituximab, Adalimumab, and Infliximab have already received regulatory approval in some countries. In January 2018, Glenmark pharmaceuticals launched biosimilar for Humira in the Indian market. Introduction of new biosimilars in the near future is poised to create a significant shift in prescription patterns.
In recent times, there has been a tremendous upswing in patients preferring prescription drugs to OTC drugs. The factor responsible for the shift is rise in awareness regarding new disease reversal treatment options. The prescription segment is likely to dominate the rheumatoid arthritis drugs market throughout the forecast period owing to increasing rheumatologist consultations. Prolonged overuse of RA medication may lead to drug resistance, owing to which patients suffering from this disease are anticipated to consult rheumatologists and follow advised therapy. Additionally, the number of OTC products available for treatment is meagre.
OTC products comprise various active ingredients such as acetaminophen and diclofenac. Share of these OTC drugs is expected to decrease over the forecast period due to approval of newer therapeutics with fewer adverse effects and increasing awareness regarding disease remittance prescription therapies for arthritis. Moreover, regular consumption of OTC therapies for pain management may lead to serious side effects such as liver damage and habit formation.
North America accounted for more than 55.0% of the rheumatoid arthritis therapeutics market in 2016. Heightened awareness of disease remittance therapies among patients, rising prevalence of RA, and high public and private healthcare spending are stimulating the growth of the region. Moreover, easy access to quality healthcare, favorable reimbursement policies, strong clinical pipeline, and approval of novel drugs are projected to promote revenue growth in North America.
The U.S. is at the forefront of growth in the region and is also an important revenue contributor in the global arena. An estimated 860 individuals out of every 100,000 in the country suffer from rheumatoid arthritis. Price-sensitive regions such as Latin America and MEA have higher acceptance of generic drugs as compared to innovator biologics due to lower price. Increasing demand for new treatment options for disease reversal is poised to augment the regional markets during the forecast period.
Asia Pacific is likely to post the highest CAGR between 2017 and 2025. Growing adoption of urban lifestyle is leading to expanding base of patients in the region. This, coupled with increasing healthcare spending, is expected to propel the market in APAC. Favorable regulatory policies for biosimilars are estimated to boost demand for therapies over the forecast period.
Key Players
AbbVie; Boehringer Ingelheim GmbH; Novartis AG; Regeneron Pharmaceuticals, Inc.; Pfizer, Inc.; Bristol-Myers Squibb Company; F. Hoffmann-La Roche Ltd.; UCB S.A.; Johnson & Johnson Services, Inc.; and Amgen, Inc.
Market Segmentation
Molecule Type Outlook
Pharmaceuticals
NSAIDs
Analgesics
DMARDs
Glucocorticoids
Biopharmaceuticals
Biologics
TNF-α antagonists
T-cell inhibitors
CD20 antigen
JAK inhibitors
anti-IL6 biologics
Biosimilars
CD20 antigen
TNF-α antagonists
Sales Channel Outlook
Prescription
Over-the-Counter (OTC)
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
The Rheumatoid Arthritis Therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Rheumatoid Arthritis Therapeutics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Rheumatoid Arthritis Therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Rheumatoid Arthritis Therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Rheumatoid Arthritis Therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Rheumatoid Arthritis Therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Rheumatoid Arthritis Therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Rheumatoid Arthritis Therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Rheumatoid Arthritis Therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Rheumatoid Arthritis Therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Rheumatoid Arthritis Therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Rheumatoid Arthritis Therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Rheumatoid Arthritis Therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Rheumatoid Arthritis Therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Rheumatoid Arthritis Therapeutics market. These factors have benefited the growth of the global market for Rheumatoid Arthritis Therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Rheumatoid Arthritis Therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Rheumatoid Arthritis Therapeutics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers