Global Rheumatology Therapeutics Market, By Drug Class (Disease Modifying Anti-Rheumatic Drugs (DMARD’s), Nonsteroidal Anti-Inflammatory Drugs (NSAID’s), Corticosteroids, Uric Acid Drugs), Disease Indication (Rheumatoid Arthritis, Osteoarthritis, Gout, Psoriatic Arthritis, Ankylosing Spondylitis), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Industry Trends and Forecast to 2030.
Rheumatology Therapeutics Market Analysis and Size
Rheumatology is a medical specialty that focuses on the diagnosis and treatment of conditions affecting the joints, muscles, bones, and connective tissues. A doctor who specializes in rheumatology is called a rheumatologist. Rheumatologists are experts in the management of various diseases and conditions, including but not limited to Rheumatoid arthritis, Osteoarthritis, Systemic lupus erythematosus (SLE), Gout, Spondyloarthropathies, Vasculitis, and Sjögren's syndrome etc.
Data Bridge Market Research analyses that the global rheumatology therapeutics market which was USD 34,632.82 million in 2022, is expected to reach USD 41,218.77 million by 2030, and is expected to undergo a CAGR of 2.2% during the forecast period 2023-2030. This indicates that the market value of disease modifying anti-rheumatic drugs (DMARD’s) dominates the type segment of the global rheumatology therapeutics market owing to the increasing aging population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Rheumatology Therapeutics Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Drug Class (Disease Modifying Anti-Rheumatic Drugs (DMARD’s), Nonsteroidal Anti-Inflammatory Drugs (NSAID’s), Corticosteroids, Uric Acid Drugs), Disease Indication (Rheumatoid Arthritis, Osteoarthritis, Gout, Psoriatic Arthritis, Ankylosing Spondylitis), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AbbVie Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Pfizer Inc. (U.S.), Merck & Co., Inc. (Germany), Amgen Inc. (U.S.), Novartis AG (Switzerland), Janssen Pharmaceuticals, Inc. (Belgium), Sanofi (France), Genentech, Inc. (U.S.), Takeda Pharmaceutical Company Limited (Japan), Johnson & Johnson Private Limited (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), UCB S.A. (Belgium), Lilly (U.S.), Gilead Sciences, Inc. (U.S.), Boehringer Ingelheim International GmbH (Germany), Regeneron Pharmaceuticals Inc. (U.S.)
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Market Opportunities
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Market Definition
Rheumatology refers to the discipline of internal medicine including the diagnosis and treatment of rheumatic diseases. Rheumatic diseases are defined as the inflammation that affects joints, tendons, ligaments, bones and sometimes organs. These diseases are also known as musculoskeletal disease causing severe pain, deformity and morbidity. The treatment tends to be highly expensive. Several types of rheumatic diseases with different symptoms are seen all across the world among all age groups.
Global Rheumatology Therapeutics Market Dynamics
Drivers
- Increasing Prevalence of Rheumatic Diseases
Rheumatic diseases, such as rheumatoid arthritis, osteoarthritis, and lupus, are becoming more prevalent worldwide. The aging population, sedentary lifestyles, and other factors contribute to the rising incidence of these conditions. As a result, the demand for effective rheumatology therapeutics is increasing.
- Technological Advancements in Drug Development
Advances in biotechnology and pharmaceutical research have led to the development of innovative therapies for rheumatic diseases. The discovery of novel drug targets and the introduction of biologics, disease-modifying antirheumatic drugs (DMARDs), and small molecules have expanded the treatment options available for patients.
- Growing Awareness and Diagnosis
Improved awareness and early diagnosis of rheumatic diseases have contributed to the increased demand for rheumatology therapeutics. As individuals and healthcare professionals become more knowledgeable about these conditions, there is a greater emphasis on timely intervention and effective treatment.
- Favorable Reimbursement Policies
Government initiatives and favorable reimbursement policies in many countries have made rheumatology therapeutics more accessible and affordable. This has resulted in increased patient access to advanced treatment options and medications.
Opportunities
- Rising Healthcare Expenditure
The overall increase in healthcare spending globally has positively influenced the rheumatology therapeutics market. Governments and private sectors are investing in the development and availability of advanced treatment options, leading to market growth.
- Patient-Centric Approach
There is a growing focus on patient-centric care in rheumatology, with a shift towards personalized medicine. This approach aims to tailor treatment plans to individual patients based on their specific needs, disease characteristics, and genetic profiles. The adoption of patient-centric strategies has enhanced treatment outcomes and patient satisfaction.
Restraints/Challenges
- Patent Expirations and Generic Competition
Patent expirations of key rheumatology therapeutics can lead to the entry of generic versions into the market, resulting in price erosion and reduced market share for the original branded products. Generic competition can impact the revenue potential for pharmaceutical companies and limit market growth.
- Adverse Effects and Safety Concerns
Rheumatology therapeutics, like any other medications, may have potential adverse effects and safety concerns. The occurrence of adverse events, even if rare, can impact patient confidence and limit the uptake of specific therapies. Safety concerns can also lead to regulatory actions and restrictions on the use of certain drugs.
This global rheumatology therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global rheumatology therapeutics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In April 2022, AbbVie announced that the U.S. Food and Drug Administration (FDA) has approved RINVOQ (upadacitinib; 15 mg, once daily) for the treatment of adults with active ankylosing spondylitis (AS) who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) blockers
- In December 2021, Pfizer Inc. announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental New Drug Application (sNDA) for XELJANZ / XELJANZ XR (tofacitinib) for the treatment of adults with active ankylosing spondylitis (AS) who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) blockers
Global Rheumatology Therapeutics Market Scope
The global rheumatology therapeutics market is segmented on the basis of drug class, disease indication, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Drug Class
- Disease Modifying Anti-Rheumatic Drugs (DMARD’s)
- Nonsteroidal Anti-Inflammatory Drugs (NSAID’s)
- Corticosteroids
- Uric Acid Drugs
Disease Indication
- Rheumatoid Arthritis
- Osteoarthritis
- Gout
- Psoriatic Arthritis
- Ankylosing Spondylitis
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Global Rheumatology Therapeutics Market Regional Analysis/Insights
The global rheumatology therapeutics market is analysed and market size insights and trends are provided by country, drug class, disease indication, and distribution channel as referenced above.
The countries covered in the rheumatology therapeutics market report are U.S., Canada and Mexico in North America, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the global rheumatology therapeutics market because of the increasing drug development activities, growing investment in healthcare infrastructure is also boosting the growth of the market.
Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The global rheumatology therapeutics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global rheumatology therapeutics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global rheumatology therapeutics market. The data is available for historic period 2015-2020.
Competitive Landscape and Global Rheumatology Therapeutics Market Share Analysis
The global rheumatology therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global rheumatology therapeutics market.
Some of the major players operating in the global rheumatology therapeutics market are:
- AbbVie Inc. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Pfizer Inc. (U.S.)
- Merck & Co., Inc. (Germany)
- Amgen Inc. (U.S.)
- Novartis AG (Switzerland)
- Janssen Pharmaceuticals, Inc. (Belgium)
- Sanofi (France)
- Genentech, Inc. (U.S.)
- Takeda Pharmaceutical Company Limited (Japan)
- Johnson & Johnson Private Limited (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- UCB S.A. (Belgium)
- Lilly (U.S.)
- Gilead Sciences, Inc. (U.S.)
- Boehringer Ingelheim International GmbH (Germany)
- Regeneron Pharmaceuticals Inc. (U.S.)
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