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The global rheumatoid arthritis (RA) drugs market size is estimated to grow by USD 16.05 billion at a CAGR of 7.5% between 2023 and 2028.
Rheumatoid arthritis drugs market Share
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising cases of RA and the focus on an increasing number of rheumatologists is the key factor driving market growth. RA is one of the most prevalent diseases across the globe. According to the National Library of Medicine, an estimated 17.6 million people had RA globally in 2020. The high number of cases of RA is expected to positively affect the growth of the rheumatoid arthritis drugs market globally. Rheumatologists are physicians who are experienced in the diagnosis and treatment of arthritis and other diseases of the joints, muscles, and bones. The number and availability of rheumatologists should be increased to meet the demands of patients.
Furthermore, there are several associations that include rheumatology specialists, such as the Indian Rheumatology Association (IRA). IRA aims to fight against arthritis by means of regular scientific workshops, conferences, symposia, and special interest groups. Such associations are increasingly emerging across the world. Hence, the growing cases of RA and the focus on an increasing number of rheumatologists are anticipated to drive the growth of the market during the forecast period.
The use of biologics/biosimilars for the treatment of RA is the primary trend shaping market growth. Unlike synthetic DMARDs, biologics have targeted mechanisms of action and serve as profitable molecules for the successful treatment of RA. Also, biosimilars, which are replicas of biologics, are available at low prices and will likely invade the rheumatoid arthritis drugs market. HUMIRA, Enbrel, CIMZIA, ACTEMRA, and SIMPONI are examples of some of the trending biologics that have shown promising results and are prescribed as a first-line treatment for diabetes.
Moreover, biosimilar therapy is still under development, and it may take a couple of years to get approval from regulatory authorities. Hence, the use of biologics/biosimilars for the treatment of RA is expected to positively affect the growth of the global rheumatoid arthritis drugs market during the forecast period.
Low access to healthcare due to social stigma is a challenge that affects market growth. Social stigmas associated with RA are primarily due to physical deformities and functional limitations in RA patients. Patients face anticipated stigma from co-workers, friends, and healthcare providers. This is often negatively associated with mental well-being and medication adherence. Social stigma can be a hurdle for various social groups that cannot gain access to healthcare facilities. Stress due to social stigma acts as a trigger for exacerbations of the disease.
Furthermore, various strategies are being adopted to tackle stigmas at the patient level. It involves initiating discussions with physicians to dispel misconceptions about the disease, align treatment expectations, and readjust disease management. The other steps include an increase in public awareness regarding the disease by government organizations and patient advocacy groups. Hence, the low access to healthcare due to social stigma is expected to impede the growth of the market during the forecast period.
The drug class segment includes disease-modifying anti-rheumatic drugs, nonsteroidal anti-inflammatory drugs, and corticosteroids. The type segment includes biologics and small molecules. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW).
The market share growth by the disease-modifying anti-rheumatic drugs segment will be significant during the forecast period. Disease-modifying anti-rheumatic drugs (DMARDs) contain methotrexate, sulfasalazine, leflunomide, etanercept, and infliximab. Nonsteroidal anti-inflammatory drugs (NSAIDs) and DMARDs both relieve the symptoms of active rheumatoid arthritis, but only DMARDs have been proven to affect the course of the illness and improve radiological results. Rheumatoid arthritis is impacted differently and maybe more slowly by DMARDs.
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The disease-modifying anti-rheumatic drugs segment was valued at USD 20.53 billion in 2018. Early DMARD treatment can slow or stop the progression of RA and lessen the chance of joints suffering persistent, incapacitating damage. DMARDs target particular immune cell subsets and the cytokines they release. Consequently, the disease-modifying anti-rheumatic drugs segment is expected to grow at a rapid rate and drive the growth of the global rheumatoid arthritis (RA) drugs market during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the primary market with the existence of leading market players for RA drugs, including AbbVie, Amgen, and Johnson and Johnson. Another factor that contributes to the significant market share of North America is the initiatives by organizations, such as the National Institute of Arthritis and Musculoskeletal and Skin Diseases and the North American College of Rheumatology. Furthermore, in North America, the US has the maximum share, followed by Canada and Mexico. The US has the maximum RA patient pool in North America due to high cases of RA, which in turn will drive the growth of the regional rheumatoid arthritis drugs market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc.: The company offers rheumatoid arthritis drugs namely Rinvoq that demonstrate both strong clinical performance and benefits to patients.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Rheumatoid Arthritis Drugs Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.5% |
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Market growth 2024-2028 |
USD 16045.12 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.4 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 39% |
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Key countries |
US, UK, Germany, France, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Amgen Inc., Astellas Pharma Inc., Bristol Myers Squibb Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Galmed Pharmaceuticals Ltd., Genor Biopharma Holdings Ltd., Gilde Healthcare, Gilead Sciences Inc., GlaxoSmithKline Plc, Johnson and Johnson, Kangstem Biotech Co. Ltd., Novartis AG, Oryn Therapeutics, Pfizer Inc., Sanofi, Sorrento Therapeutics Inc., Taisho Pharmaceutical Holdings Co. Ltd., and UCB SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Drug Class
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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