Pune, India, 17th June 2019: Rising awareness about arthritis and its prevention is propelling the growth of rheumatoid arthritis therapeutics Market says, Fortune Business Insights in a published report titled “Rheumatoid Arthritis Therapeutics Market Size, Share and Global Trend By Product Type (Biologics, Non-Biologics), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) & Geography Forecast till 2025.”As per the report the market is projected to reach at Us$ 33,958.4 Mn by 2025 from US$ 23,822.5 Mn in 2017 at a remarkable 4.6% CAGR.
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"Reimbursement Policies and Demand for Effective Drugs Despite their High Cost Are Supporting Market Growth"
Recent developments in diagnostics and healthcare centers in emerging nations are predicted to exhibit higher diagnosed cases. Furthermore, the rising incidence of rheumatoid arthritis is likely to fuel demand for rheumatoid arthritis therapeutics during the forecast period. The rising geriatric population and growing awareness about arthritis and its preclusion among patients are predicted to boost the global rheumatoid arthritis therapeutics market during the forecast period.
The existence of high-cost drugs and reimbursement policies are some of the key factors favoring the growth of rheumatoid arthritis therapeutics market. For instance, Disease-Modifying Antirheumatic Drug (DMARD) mostly used for treating rheumatoid arthritis are now also being used for treating conditions such as, psoriatic arthritis, systemic lupus erythematosus and ankylosing spondylitis.
"FDA’s Approval of Enbrel(R) to Foster Increased Growth"
Food and Drug Administration permitted the use for Enbrel, as a treatment for improving physical function in patients with minutely or severely active rheumatoid arthritis. The approval of Enrabel is expected to generate demand among rheumatoid arthritis patients, owing to the claim of improved physical function by the drug. This factor is predicted to have a major contribution to the growth of the global market. Key players such as AbbVie Inc, Amgen Inc., UCB SA and others. Among which AbbVie Inc was appeared to be leading in 2017 owing to Humira, a medication used mainly for treating rheumatoid arthritis.
This drug is predicted to witness high demand for the treatment of rheumatoid arthritis. Furthermore, the rising prevalence and growing awareness about breathing disorders is also resulting in high demand for rheumatoid arthritis therapeutics and enabling the growth of the global rheumatoid arthritis therapeutics
"North America to Emerge Dominant by 2025"
Geographically, the global rheumatoid arthritis therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global rheumatoid arthritis therapeutics market in 2017 and was valued at US$ 9,929.6 Mn and is anticipating to dominate and account for maximum share in the global market during the forecast period. The increasing prevalence of rheumatoid arthritis is driving the growth of the rheumatoid arthritis therapeutics market in the region.
Rising awareness about disorders and elevation in healthcare spending is another factor favoring the growth of the market. In addition, growing penetration of rheumatoid arthritis treatment drugs by key companies such as biologics is fueling the demand for advanced treatment in patients.
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The rising number of healthcare infrastructure in emerging nations such as India, China, Japan, is also one of the key factors which are expected to progressively influence the consumption of rheumatoid arthritis treatment medications. Therefore, the aforementioned factors are resulting in the high growth rate of rheumatoid arthritis therapeutics market in the region.
Some of the key market players are Pfizer Inc., Amgen Inc., Johnson & Johnson Services, Inc., CELGENE CORPORATION, Bristol-Myers Squibb Company, Hoffmann-La Roche AG, UCB S.A., Eli Lilly and Company, Gilead Sciences, Inc. Other players
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