Global Rheumatoid Arthritis Treatment Market Highlights 2022-2030
The global rheumatoid arthritis treatment market to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The market growth can be attributed to the growing prevalence of rheumatoid arthritis and musculoskeletal conditions, such as, Carpal Tunnel syndrome, globally. Rheumatoid arthritis is an autoimmune disease and a chronic inflammatory disorder that affects many joints, including those in the hands and feet. It can be challenging to diagnose early because the early signs and symptoms mimic various other diseases. Currently, there is no treatment for rheumatoid arthritis; however, certain drugs are prescribed to efficiently control the conditions of rheumatoid arthritis, which include nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), corticosteroids, and uric acid drugs. Furthermore, the market is projected to grow owing to the favourable government reimbursement policies, and increasing healthcare expenditure. The changing lifestyles, rising pollution levels and, changes in metabolic activities due to chronic diseases, such as, diabetes are fuelling the prevalence of rheumatoid arthritis which is projected to boost the market growth. Moreover, the increasing number of collaborations and partnerships between pharmaceutical companies, combined with the growing R&D expenditure for the treatment and novel therapies of rheumatoid arthritis is expected to drive market growth. Additionally, the rising awareness about this condition and increasing healthcare infrastructure will lead to market growth in the forecast period.
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The market is segmented based on drug class into disease-modifying anti-rheumatic drugs (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, uric acid drugs, and others. The disease-modifying anti-rheumatic drugs (DMARDs) segment is anticipated to grab the most significant share by the end of 2021 on account of the increase in the adoption of DMARDs as a first-line treatment for rheumatoid arthritis. These drugs control the progression of rheumatoid arthritis, and provide quick relief as compared to other medications.
Based on end-user, the retail pharmacy segment in the rheumatoid arthritis treatment market is projected to grow with a notable CAGR over the forecast period. The segment's growth can be attributed to the easy access of drugs in retail pharmacy for the general population. Moreover, the trend for taking online orders by retail pharmacies increases and is estimated to result in segment growth. Additionally, online pharmacy is also expected to grow during the forecast period due to the growing internet penetration and adoption of e-commerce services.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Rheumatoid Arthritis Treatment Market Regional Synopsis
Regionally, the global rheumatoid arthritis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increased research and development expenditure for rheumatoid arthritis by governmental agencies and improving healthcare infrastructure in the region. The percentage of rheumatoid arthritis prevalence in APAC seems to be less than that in Europe and North America, the total number of rheumatoid arthritis patients in Asia is approximately 10 million, which poses a significant burden on the developing societies. Furthermore, the market in North America is evaluated to occupy the largest share in terms of revenue, in 2021 owing to the presence of various reimbursement policies, increasing awareness about the disease via support groups, and increasing adoption of physiotherapy. Moreover, the presence of major companies in the region and growing investment in therapies and novel drugs to treat rheumatoid arthritis, along with the increasing number of drugs in the pipeline and the growing clinical trials are expected to boost the market growth in the region, especially in the United States.
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The global rheumatoid arthritis treatment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global rheumatoid arthritis treatment market includes the following segments:
By Drug Class
- Disease-modifying Anti-Rheumatic Drugs (DMARDs)
- Nonsteroidal Anti-inflammatory Drugs (NSAIDS)
- Corticosteroids
- Uric Acid Drugs
- Others
By Distribution channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Growth Drivers
- Increase in Research and Development of Novel Therapies
- Advancement in Healthcare and Medical Infrastructure
Challenges
- Side-Effects Associated with the Drugs
Top Featured Key Players Dominating the Market
- F. Hoffmann-La Roche AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Sanofi S.A.
- Pfizer Inc.
- Johnson & Johnson Services, Inc.
- AbbVie Inc.
- Eli Lilly & Company
- Amgen Inc.
- Bristol-Myers Squibb Company
- Novartis International AG
- UCB S.A
