Rheumatoid Arthritis Treatment Market to be innovatively servile
The global Rheumatoid Arthritis Treatment Market is expected to stimulate at a good rate In Upcoming Years. Virtual consultations are amongst the ongoing trends. They mitigate the spreading of contagious ailments, thereby facilitating better efficiency. The gap regarding the demand-supply ratio could also be bridged this way. With this practice being followed, the developing economies would benefit better, as the cost to commute could be curtailed.
Rising occurrence of rheumatoid arthritis because of shift toward unhealthy lifestyle as well as increasing research & development activities for better and permanent therapy alternatives for rheumatoid arthritis treatment in order to diminish repeat rates are supporting market development. Rheumatoid arthritis is related with the immune system that leads to inflammation in the joints of the body, and later on the disease affects the muscles, fibrous tissues, tendons, and connective tissues.
launching technologically advanced products and receiving approval from different government bodies.
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The load of rheumatoid arthritis (RA), currently incurable and an unending autoimmune disease that basically attacks the joints, is prominent. In 2020, approximately 4.9 million individuals across major regions were affected by rheumatoid arthritis. Manufacturers are focusing on partnerships and expansion of product portfolio by launching technologically advanced products and receiving approval from different government bodies.
The global rheumatoid arthritis treatment market is estimated to be valued at US$ 40.5 Bn in 2021, and is expected to exhibit a CAGR of around 6% over the forecast period (2021 – 2031).
- Sanofi SA
- Pfizer Inc.
- AbbVie Inc.
- Amgen Inc.
- Bristol-Myers Squibb Company
- F. Hoffman-La Roche AG
- Teva Pharmaceuticals, Inc.
- Cipla, Inc.
- Dr. Reddy’s Laboratories
- Sun Pharmaceutical Industries Ltd.
- Roxane Laboratories Inc,
- Amneal Pharmaceuticals LLC.
- Sobi Inc.
- Norbrook Laboratories Ltd.
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Key Takeaways from Market Study
- Under therapy, DMARDs hold maximum value share, owing to increasing awareness associated with their utilization.
- By distribution channel, hospital pharmacies hold a notable revenue share of more than 75% in the market.
- The market North America accounted for a share of over 40% in 2020, and is expected to experience significant growth over the next ten years.
- Europe is the next dominating region with a market share of 28% in 2020, due to well-developed healthcare infrastructure largely supported by the government.
“Rise in prevalence of rheumatoid arthritis along with increase in adoption of DMARD therapies, flourishing combination treatment, and supportive government policies are expected to drive market growth,” says a Persistence Market Research analyst.
Collaborations and Acquisitions – Imperative Strategy for Market Players
Major companies in the rheumatoid arthritis treatment market are actively engaging in acquisitions and expansions in order to enhance their product portfolios and outreach to a large number of customers. Globally, leading companies are acquiring other companies who are facing a large number of product recalls in the market.
- In April 2021, Novartis signed an initial agreement with Roche to reserve capacity and implement technology transfer for the production of active pharmaceutical ingredient (API) for Roche’s Actemra/RoActemra® (tocilizumab), a treatment for rheumatoid arthritis, which is also being tested in various clinical trials investigating the safety and efficacy in COVID-19-associated pneumonia.
- In October 2020, Johnson & Johnson announced successful acquisition of Momenta Pharmaceuticals, Inc. (“Momenta”), a company that discovered and developed novel therapies for immune-mediated diseases.
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COVID-19 Crisis Impact
Due to the unprecedented pandemic scenario, the healthcare sector has been the central point across regions. As import activities were halted, this adversely affected the finances of a majority of healthcare companies. Every industry, including healthcare, is suffering from supply chain disruptions.
The World Health Organization (WHO) declared the COVID-19 outbreak a public health emergency of international significance on January 30, 2020. Around 210 countries have been affected by COVID-19. Patients with rheumatoid arthritis who contract COVID-19 infection, according to the Lancet Rheumatology 2020, are at a high risk of experiencing serious symptoms and complications.
Some DMARDs commonly used to treat rheumatoid arthritis, such as hydroxychloroquine drugs, are being investigated as potential therapy for COVID-19. Moreover, other generally used therapies such as biologics targeting interleukin (IL)-6 (sarilumab, tocilizumab) and IL-1 (anakinra) are being assessed in patients with COVID-19. Thus, COVID-19 infection uplifted growth opportunities for manufacturers of rheumatoid arthritis drugs. For instance,
- Tocilizumab, a drug originally used for rheumatoid arthritis, is seeing increased use in treating severe COVID-19 patients.
- A drug developed for rheumatoid arthritis by global pharma company Roche is licensed exclusively to Indian pharma company Cipla.
What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the rheumatoid arthritis treatment market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021–2031, based on therapy (symptomatic treatment, intermediate corticosteroid therapies, stem cell therapy/ cell therapy, and disease modifying anti-rheumatic drugs (DMARDs)) and distribution channel (hospital pharmacies, retail pharmacies, and drug stores), across seven key regions of the world.
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