Research Nester released a report titled “Rheumatoid Arthritis Treatment Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global rheumatoid arthritis treatment market in terms of market segmentation by drug class, distribution channel, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global rheumatoid arthritis treatment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. This can be accounted to the rising cases of rheumatic arthritis and other musculoskeletal conditions. Although there is no specific cure for rheumatic arthritis, but these drugs aim to treat the conditions. These drugs are prescribed for various rheumatic or musculoskeletal conditions, such as, osteoarthritis, spinal disorders, psoriatic arthritis, and others, which is estimated to boost the market growth. As per the data provided by World Health Organization (WHO), the prevalence of rheumatoid arthritis varies between 0.3% and 1% and is more common in women and in developed countries. Approximately 1.71 billion people have musculoskeletal conditions worldwide.
The market is segmented based on drug class is divided into disease-modifying anti-rheumatic drugs (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, uric acid drugs, and others. The disease-modifying anti-rheumatic drugs (DMARDs) segment is anticipated to grab the most significant share by the end of 2021 owing to the increasing adoption of DMARDs as these drugs can control the progression of rheumatoid arthritis and provide quick relief as compared to other medications. However, nonsteroidal anti-inflammatory drugs (NSAIDs) also contribute to the market growth since these reduce acute inflammation, thereby decreasing pain and improving function.
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Regionally, the rheumatoid arthritis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period, owing to the high geriatric population, along with improving healthcare infrastructure in the region. At present, the market in the North America region captures the largest share in terms of revenue attributing to the presence of reimbursement policies, increasing awareness about the disease via support groups and physiotherapy in the region. Moreover, the presence of major pharmaceutical companies in the region especially in the United States, is also estimated to boost the market growth.
Increasing Prevalence of Rheumatic or Musculoskeletal Conditions worldwide to Drive the Market Growth
According to World Health Organization, musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries.
The rise in prevalence of musculoskeletal conditions such as osteoarthritis, rheumatoid arthritis and other conditions, along with the expiration of patents, and the surge in the geriatric population are anticipated to significantly drive the market growth. Moreover, the increase in the adoption of conventional DMARDs and NSAIDs and government initiatives toward spreading awareness for rheumatoid arthritis symptoms also contribute to the market growth. Additionally, rise in healthcare expenditure, improvement in buying power, and access to quality drugs to poor & middle-class families globally are some other factors that contribute to the market's growth. However, side effects associated with the medication of these drugs and the high costs of biological DMARD therapies are expected to act as the key restraints of the global market.
This report also provides the existing competitive scenario of some of the key players of the global rheumatoid arthritis treatment market which includes company profiling of F. Hoffmann-La Roche AG, Sanofi S.A., Pfizer Inc., Johnson & Johnson Services, Inc., AbbVie Inc., Eli Lilly & Company, Amgen Inc., Bristol-Myers Squibb Company, Novartis International AG, and UCB S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global rheumatoid arthritis treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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