To offer an extensive outline of the Global Rheumatoid arthritis Market , the MRFR report has listed drug type, diagnosis, and treatment as the key segments.
The drug types considered in the report are steroids, non-steroidal anti-inflammatory drug type (NSAID), and biologic agents. Non-steroidal anti-inflammatory drugs or NSAIDs such as ibuprofen, naproxen and diclofenac are quite effective in reducing the pain. NSAID gels are also used extensively for alleviating the pain since there are lower chances of side effects.
Diagnosis-wise, the major segments include ESR test, CCP, C-Reactive Protein (CRP) Test, and more. CRP tests are highly popular diagnosis types that are not only rapid but also accurate. These easy-to-use tests that can be done in different healthcare settings. Government initiatives encouraging the use of CRP tests in various healthcare settings should also help the segment grow in the coming years.
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The key treatment lines available in the market include joint fusion, tendon repair, synovectomy, and others. Joint fusion surgeries have become the most popular treatment line among doctors, and these bring down pain considerably. Therefore, patient satisfaction as well as reduced need for frequent procedures will foster the demand for joint fusion treatment in the next couple of years.
Regional Study
North America and APAC or Asia Pacific along with Europe and MEA or Middle East and Africa are the key regions where the rheumatoid arthritis industry can experience growth during the conjectured period.
North America has secured the lead in the global market since the region accommodates a highly developed healthcare system with a high budget. The RA market in North America is fostered by the rising use of new products in the JAK and IL-6 inhibitor classes combined with the introduction of advanced pipeline therapies. More than 70% of the total sales are reported in the US; as the country as a huge population of patients and significant costs of targeted synthetic disease modifying anti-rheumatic drugs and biologics.
Europe is the second highest gainer in the global market and can potentially attain a significant growth rate in the ensuing years, on account of the increased spending on research activities. Mounting burden of rheumatoid arthritis, subsequent increase in the need for rheumatoid arthritis drugs and the expiration of existing patents and the emergence of biosimilar drugs should benefit the European market over the years ahead. Exploding geriatric pool, rising adoption of DMARDs, and surge in government efforts to bolster the awareness level about for rheumatoid arthritis symptoms will also favor the regional market.
Asia Pacific offers attractive opportunities to global companies and should capture the fastest CAGR in the coming years. With highly populated countries home to vast pools of patients, rise in public awareness about the benefits of the associated drugs and the advances in the R&D field seem to be working in favor of the APAC market. Additionally, surge in healthcare reforms and renowned manufacturers focusing on bolstering their presence in the region will also ensure that the APAC market witnesses better growth in the near future.
Competitive Analysis
Pfizer Inc. (U.S), Eli Lilly and company (U.S), Bristol-Myers Squibb Company (U.S), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (U.S), Sanofi (France), AstraZeneca (U.K) are some of the prominent players at the forefront of competition in the Global Rheumatoid Arthritis Market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the global market of rheumatoid arthritis appears to be highly competitive and fragmented. With well-established market in the North America region major companies like Pfizer Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Vertex Pharmaceuticals Incorporated, and various others have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
The market for rheumatoid arthritis is highly competitive with companies focusing on the development of oral drug and treatment. U.S based pharmaceutical company Pfizer is one of the leaders in the market. The company in February 2016, announced the approval of its product XELJANZ XR (tofacitinib citrate) by the U.S. Food and Drug Administration (FDA). The 11mg drug product has been approved for daily once treatment of medium to severe rheumatoid arthritis. XELJANZ has been approved in more than 45 countries across the globe for the treatment of moderate to severe RA. The company has been involved in this market for more than 60 years and being the leader in the market continues for the development of the market.
Affluent Firms
Affluent companies in the global market for rheumatoid arthritis are Eli Lilly and company (U.S), Sanofi (France), F. Hoffmann-La Roche Ltd (Switzerland), Bristol-Myers Squibb Company (U.S), Pfizer Inc (U.S), AstraZeneca (U.K), Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (U.S), and many more.
Latest Developments
March 2021
Samsung Bioepis (Republic of Korea) has launched adalimumab biosimilar Hadlima in Australia. Hadlima is a biosimilar that helps treat rheumatoid arthritis along with psoriatic arthritis, juvenile idiopathic arthritis, adult and paediatric Crohn’s disease, ankylosing spondylitis, hidradenitis suppurativa, plaque psoriasis and ulcerative colitis.
1. INTRODUCTION
1.1 DEFINITION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.2.2.1 ASSUMPTIONS
1.2.2.2 LIMITATIONS
1.3 MARKET STRUCTURE:
2. RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3. MARKET DYNAMICS
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 MACROECONOMIC INDICATORS
4. MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 THREAT OF SUBSTITUTES
4.6 INTENSITY OF RIVALRY
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