Rheumatoid arthritis drugs market will grow to $30.4 billion by 2025
The global rheumatoid arthritis drugs/therapeutics market size was valued at $20.3 billion in 2016.
According to a new report by Grand View Research (rheumatoid arthritis therapeutics market), the market is anticipated to expand at a compound annual growth rate (CAGR) of 4.6% over the forecast period, reaching $30.4 billion by 2015.
Increasing launches of novel biologics and rising penetration of generic drugs are estimated to provide a significant boost to the market. For instance, introduction of Olumiant (baricitinib) by Eli Lilly (NYSE: LLY) in 2017 is likely to fuel revenue growth in Japan. Similarly, upadacitinib, a novel JAK1-selective inhibitor by AbbVie (NYSE: ABBV), is awaiting approval by 2019.
Recently approved biologics such as Xeljanz (tofacitinib citrate), from Japan’s Takeda Pharmaceutical, and Kevzara (sarilumab), developed by France’s Sanofi (Euronext: SAN) and USA-based Regeneron Pharmaceuticals (Nasdaq: REGN), are poised to have strong market penetration due to presence of favorable reimbursement scenario.
Growing patient awareness regarding rheumatic disorders and influx of new biopharmaceuticals in the global arena are projected to rev up adoption of rheumatoid arthritis (RA) therapeutics. In 2013, around 52.2 million adults suffered from arthritis in USA alone.
Most patients who have been treated with disease-modifying antirheumatic drugs (DMARDs) remain unsatisfied due to poor therapeutic benefits. For this patient group, a combination of biologics and DMARDs is likely to deliver higher therapeutic benefits. Thus, the rheumatoid arthritis market is witnessing a shift toward combination therapies that provide enhanced results to patients. Rise in penetration of combination of DMARDs and biologics will boost market revenue in coming years.
Further key findings from the report suggest:
- North America held 56.6% of the market in 2016 due to rising awareness regarding disease treatment, growing geriatric population, and high adoption of biopharmaceuticals for treatment.
- Due to growing popularity, the biopharmaceuticals segment is projected to exhibit a CAGR of 8.3% during the forecast period.
- Prescriptions are anticipated to emerge as more reliable and a preferred sales channel over the same period.
- Asia Pacific is the most promising region, registering a CAGR of 9.5% between 2017 and 2025
- Some of the key players in rheumatoid arthritis market are AbbVie; Boehringer Ingelheim; Novartis; Regeneron Pharmaceuticals; Pfizer; Bristol-Myers Squibb; Roche; UCB; Johnson & Johnson; and Amgen.
