Growing prevalence of rheumatoid arthritis in developed countries to accelerate the global rheumatoid arthritis therapeutics market revenue to reach US$ 33,958.4 mn by 2025. Fortune Business Insights shares interesting facts and figures in its report, titled “Rheumatoid Arthritis Therapeutics Market Size, Share and Global Trend By Product Type (Biologics, Non-Biologics), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2025”. The analysis contained in the report shows that the global rheumatoid arthritis therapeutics market growth is projected to occur at a CAGR of 4.6% during the forecast period.
- Gilead Sciences
- Eli Lilly and Company
- Bristol-Myers Squibb
- Johnson & Johnson
Staggering Rise in Prevalence of Rheumatoid Arthritis to Drive the Market
According to the WHO, more than 23 million people in the world live with rheumatoid arthritis. The WHO also highlights the fact that twice as many women are affected by the disease than men, with the prevalence varying between 0.3% and 1% globally. The global rheumatoid arthritis therapeutics market size is slated to substantially expand in view of these numbers. Moreover, the Global RA Network predicts that the incidence of rheumatoid arthritis will double by 2030 due to increasing population in Asia-Pacific and rising geriatric population in developed nations. According to the Centers for Disease Control and Prevention (CDC), other factors that can increase the risk of rheumatoid arthritis include genetics, smoking, obesity, non-pregnancy, and sex.
Increased Focus on Research to Elevate Market Competition
Key players in the global market are adopting various strategies to stay ahead of the competition, the most dominant one being research and development. For example, in 2016, Bristol-Myers Squibb Company conducted extensive research on anti-cyclic citrullinated protein antibodies (ACPA), which has enhanced the medical community’s capability for prognosis of the rheumatoid arthritis. Regular FDA approvals have also encouraged investments in the global rheumatoid arthritis therapeutics market. For instance, Unichem’s treatment capsules for rheumatoid and osteoarthritis, Piroxicam, got FDA clearance in April 2017.
Fortune Business Insights profiles some of the key players in the market including Gilead Sciences, Inc., Pfizer Inc., Hoffmann-La Roche Ltd, Eli Lilly and Company, Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, UCB S.A., CELGENE CORPORATION, and others.
North America to Lead the Pack with a Dominant Market Share
North America, followed by Europe, is anticipated to hold a commanding chunk of the global rheumatoid arthritis therapeutics market share. This is primarily a result of higher investments in healthcare and growing prevalence and awareness about the disease. Asia-Pacific is expected to significantly expand the global rheumatoid arthritis therapeutics market size owing to rapidly developing healthcare infrastructure and increasing demand for rheumatoid arthritis treatments and procedures. In Latin America, the Middle East, and Africa the market for rheumatoid arthritis therapeutics is expected to grow, but at a slower pace.
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