Rheumatoid Arthritis Drugs Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis

Rheumatoid Arthritis Drugs Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis

Rheumatoid Arthritis Drugs Market is estimated to reach US$ 34.3 Billion by 2027. Rheumatoid arthritis is a disease that induces pain and inflammation in joints. It influences individuals of all ages; notwithstanding, the geriatric population is highly susceptible to developing this disorder. The symptoms of rheumatoid arthritis embrace pain, stiffness, tenderness, and swelling of joints. Currently, no cure is available for rheumatoid arthritis. Despite this, certain drugs are used to efficiently control the conditions of rheumatoid arthritis, which include disease-modifying anti-rheumatic drugs (DMARDs), non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and uric acid drugs.

Future Demand Scenario for Rheumatoid Arthritis Drugs Market:

The increasing predominance of arthritis and other joint problems fuels the market for rheumatoid arthritis treatment. Further, the shift toward unhealthy lifestyle, increasing metabolic diseases & age, family history with joint disorders, and increasing obesity are the reasons for growth in rheumatoid arthritis. Additionally, developments in biosimilar and novel biologics are expected to pave the way for new opportunities in the industry. According to Renub Research analysis, the Worldwide Rheumatoid Arthritis Drugs Industry is projected to progress at a CAGR of 4.53% during 2021-2027.

The Parenteral Segment Accounts for the Lion's Share:

Based on Product Type, the parenteral segment accounts for the highest market share. The rise in R&D activities to develop biosimilar drugs, wide availability of drugs, innovative parenteral products, and rise in healthcare expenditure add to the parenteral segment's growth. The oral segment is expected to expand its market share during the forecast period. Further, providing several benefits comprising ease of absorption, no pain during administration, enhanced safety, and adaptability to many kinds of drugs, the oral route administration is preferred over numerous other routes of administration. Hence, it drives the growth of this segment.

COVID-19 Impact on Global Rheumatoid Arthritis Drugs:

Although the manufacturing of drugs is considered under essential services, still due to COVID-19, the global rheumatoid arthritis drugs market has been slightly affected. But, medications like tocilizumab and hydroxychloroquine used to treat rheumatoid arthritis have been found to treat the novel coronavirus, further boosting the Rheumatoid Arthritis Drugs Market. According to our research findings Worldwide Rheumatoid Arthritis Drugs Market Size was US$ 26.3 Billion in 2021.

Therapeutic Molecules - Rheumatoid Arthritis Drug Market:

Currently, Therapeutic Molecules for rheumatoid arthritis includes pharmaceuticals such as Disease-modifying Anti-Rheumatic Drugs (DMARDs), Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids and Uric Acid Drugs. Biopharmaceuticals such as Biologics and Biosimilars have their dominance in the Rheumatoid Arthritis Drug Market and are widely used in developed countries due to their high effectiveness. Further, new product launches are anticipated to favour the market. Moreover, they are also expected to cut down the chances of disease remittance.

Online Pharmacy to Gain Great Traction:

The rheumatoid arthritis drugs industry can be segregated into hospitals, retail, and online pharmacies in terms of the distribution channel. As per our study, the online pharmacy will also acquire a substantial growth in the market share. Further, the COVID-19 outbreak has also served as the prominent growth factor for the online pharmacy segment in the growing transmission of the novel coronavirus and the stay-at-home orders by governments of various countries. Many consumers have shifted towards the online pharmacy to get their medicines at their doorstep.

North American Region Leads the Trail Throughout:

As per our analysis, based on region, the North American region holds the largest share in the global rheumatoid arthritis drugs industry. This has attributed to the factors such as an increase in the prevalence of rheumatoid arthritis, the surge in adoption of disease-modifying anti-rheumatic drugs (DMARDs), availability of exceptional healthcare facilities with skilled medical professionals, advance in the number of R&D activities, and surge in investments made by governments in the healthcare system. Similarly, the Asia-Pacific region is expected to manifest the fastest growth in capturing market share owing to an alarming increase in the abundance of patients who have rheumatoid arthritis, a rise in the geriatric population, and advancement in healthcare facilities.

Key Players Analysis:

The key market players analyzed in our global rheumatoid arthritis drugs market report include Daiichi Sankyo Co Ltd, Eli Lilly and Co, Fibrogen, Inc., Biogen Inc. and Merck & Co Inc. These companies have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry. This aspect is eventually expected to serve as a growth generator for the rheumatoid arthritis drugs market. In addition, the investment of prominent players in research and development activities may harness growth for the rheumatoid arthritis drugs market.

Renub Research latest report “Rheumatoid Arthritis Drug Market, Global Forecast By Product Type (Oral and Parenteral), Therapeutic Molecules (Pharmaceuticals (Disease-modifying Anti-rheumatic Drugs (DMARDs), Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Uric Acid Drugs and Others) and Biopharmaceuticals (Biologics and Biosimilars)), Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies), Region (North America, South Africa, Europe, Asia Pacific and ROW), Companies (Daiichi Sankyo Co Ltd, Eli Lilly and Co, Fibrogen, Inc., Biogen Inc. and Merck & Co Inc.,)” provides a detailed analysis of Rheumatoid Arthritis Drug Industry.

Product Type - Rheumatoid Arthritis Drug Market have studied from 2 viewpoints:

1. Oral
2. Parenteral

Therapeutic Molecules - Rheumatoid Arthritis Drug Market have studied from 2viewpoints:

1. Pharmaceuticals

a) Disease-modifying Anti-Rheumatic Drugs (DMARDs)
b) Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
c) Corticosteroids
d) Uric Acid Drugs
e) Others

2. Biopharmaceuticals

a) Biologics
b) Biosimilar

Distribution Channel - Rheumatoid Arthritis Drug Market have studied from 3 viewpoints:

1. Hospital Pharmacies
2. Retail Pharmacies
3. Online Pharmacies

Region - Rheumatoid Arthritis Drug Market have studied from 5 viewpoints:

1. North America
2. South Africa
3. Europe
4. Asia Pacific
5. ROW

Company Insights:

• Overview
• Recent Development
• Revenue

Key Players:

1. Daiichi Sankyo Co Ltd
2. Eli Lilly and Co
3. Fibrogen, Inc.
4. Biogen Inc.
5. Merck & Co Inc.