The global rheumatoid arthritis therapeutics market accounted for US$ 25.7 billion in 2019 and is estimated to be US$ 39.8 billion by 2029 and is anticipated to register a CAGR of 4.5%
The report “Global Rheumatoid Arthritis Therapeutics Market, By Product Type (Biologics and Non-Biologics), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
- In October 2019, Gilead Sciences, Inc. announced that the New Drug Application (NDA) for filgotinib, an investigational, oral, selective JAK1 inhibitor for the treatment of adults with rheumatoid arthritis (RA) has been submitted to the Japanese Ministry of Health, Labor and Welfare (MHLW).
- In March 2020, Roche announced that it has collaborated with the US Food and Drug Administration (FDA) to conduct a Phase III clinical trial of Actemra/RoActemra (tocilizumab) in hospitalized adults with severe Covid-19 pneumonia.
Increasing prevalence of rheumatoid arthritis syndrome across the globe, the launch of the therapeutic agents, and the favorable reimbursement policies for the high-cost treatment products are the major propelling factor for the growth of the target market. This growth driver is probable to have a huge impact in the short and medium-term of the estimated period. For instance, as per the WHO (World’s Health Organization), more than 23 million people in the world live with rheumatoid arthritis. The world’s Health Organization also highpoints the fact that women are highly affected by this disease than men, with the prevalence difference between 0.3% and 1% globally. Moreover, improvement in diagnostic procedures is influencing the growth of the global market for rheumatoid arthritis. Additionally, the market is projected to gain from the spread of several awareness programs and a growing number of skilled healthcare professionals. In 2017, AbbVie Inc. arose as a leader in the global rheumatoid arthritis therapeutics market. Currently, there are numerous market players operating in the market, out of which about ten-player account 80% of the market. Nevertheless, few leading companies are focusing on investing highly towards research and development of novel therapeutics in order to gain competitive advantage.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Rheumatoid Arthritis Therapeutics Market”, By Product Type (Biologics and Non-Biologics), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
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The global rheumatoid arthritis therapeutics market accounted for US$ 25.7 billion in 2019 and is estimated to be US$ 39.8 billion by 2029 and is anticipated to register a CAGR of 4.5%. The market report has been segmented on the basis of product type, Distribution Channel, and region.
- By product type, the biologics segment is projected to account for the largest growth over the forecast period. The growth of the segment is mainly attributed due to a rise in the consumption of rheumatoid arthritis therapeutics.
- By distribution channel, the online pharmacy segment is expected to dominate the target market over the forecast period due to more availability of therapeutics in the online shops
- By region, the North American region is projected to lead the market, owing to high awareness of syndrome remittance therapies amongst patients, growing cases of RA, and high private and public healthcare investment in the region
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The prominent player operating in the global rheumatoid arthritis therapeutics market includes Unichem Laboratories, Gilead Sciences, Inc., F. Hoffmann-La Roche AG, Eli Lilly and Company, UCB S.A., Bristol-Myers Squibb Company, Amgen Inc., Pfizer Inc., Celgene Corporation and Johnson and Johnson Services Inc.
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- Study on the regional analysis that is expected to register the highest growth over the forecast period
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