According to a report by Grand View Research, Inc., global rheumatoid arthritis (RA) therapeutics market is anticipated to value USD 30.4 billion by 2025. Growing requirement for natural and cost-effective medicines to treat rising cases of RA is anticipated to propel demand for rheumatoid arthritis therapeutics. Such therapeutics are likely to offer less side-effects and quick results in terms of disease cure.
Growing adoption of generic drugs and frequent launch of novel biologics is expected to influence growth of market. Rising cases of RA attributed to increasing number of geriatric population and adoption of urban lifestyle can augment market growth. Growing awareness and availability of safer drugs can also surge growth of market in the forthcoming years. Increasing use of combination of disease modifying antirheumatic drugs (DMARDs) with biologics can boost market growth during the forecast period (2014 to 2025).
Full Research Report On Rheumatoid Arthritis (RA) Therapeutics Market Analysis :
https://www.grandviewresearch.com/industry-analysis/rheumatoid-arthritis-therapeutics-market
The rheumatoid arthritis therapeutics market can be segregated on the basis of molecule type, sales channel, and region. Based on molecule type, the market can be categorized into pharmaceuticals and biopharmaceuticals. In 2016, biopharmaceutical segment dominated the market and accounted for 57% market share. The segment is likely to grow at similar pace by 2025. High therapeutic output and ability to cure the disease are likely to fuel product demand during the forecast period. Biopharmaceuticals can be divided further into biosimilars and biologics. Biologic drugs are likely to witness high demand over biosimilars among physicians to treat RA and can dominate market during the forecast period.
On the contrary, biosimilars can also witness substantial demand in developed countries attributed to low price, easy availability, and positive results. In addition, frequent launch of new and effective biosimilar can also surge demand in developed countries.
View More Reports Of This Category By Grand View Research At:
https://www.grandviewresearch.com/industry/pharmaceuticals
Based on sales channel, the market can be bifurcated into over-the-counter and prescription. Prescription segment is anticipated to witness significant growth owing to shift in consumer preference from OTC drugs to prescription drugs. Growing awareness regarding new disease reversal treatment options is likely to support this shift. Prolonged intake of RA medication can lead to drug resistance. That’s why, patients can always consult rheumatologists and follow therapy advised by them.
On the contrary, OTC segment is likely to witness fall in market share during the forecast period attributed to emergence of advanced therapies offering less adverse effects. In addition, increasing awareness regarding availability of prescription therapies that can efficiently treat RA disease can also lead to decrease in growth rate. Moreover, regular intake of OTC medicines can lead to addiction and serious side effects.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa (MEA). In 2016, North America dominated the market and accounted for 55% market share. Growing awareness regarding availability of advanced therapies to treat RA can influence market growth. In addition, rising cases of RA coupled with increase in private and public healthcare spending can augment growth of market. Moreover, supportive reimbursement policies, easy access to quality healthcare, strong clinical pipeline, and approval of novel drugs can also surge market growth in this region.
In Asia Pacific, the market is expected to grow at highest CAGR of 9.5% from 2017 to 2025. Growing number of RA patients attributed to increasing adoption of urban lifestyle can fuel market growth in this region. In addition, supportive government regulations towards biosimilar can spur demand for RA therapies during the forecast period.
In Latin America and MEA, the market is likely to grow owing to growing adoption of generic drugs over innovator biologics due to low price. In addition, high demand for advanced treatment options can augment market growth in these regions.
Some of the leading companies offering rheumatoid arthritis therapeutics are Regeneron Pharmaceuticals, Inc.; Pfizer, Inc.; Johnson & Johnson Services, Inc.; and Amgen, Inc.; and Novartis AG. Companies offering biopharmaceuticals are likely to dominate RA therapeutics market. In addition, most companies are likely to focus on R&D activities to develop novel chemical entities and advanced molecules to maintain their market value. This, in turn, can increase competition in the market. On the contrary, generic pharmaceuticals segment can witness new entrants attributed to low entry barriers in the market.
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/rheumatoid-arthritis-therapeutics-market