New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rheumatoid Arthritis Drugs Global Market Report 2023" - https://www.reportlinker.com/p06466614/?utm_source=GNW
, Johnson & Johnson Inc., Bayer AG, Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Ltd. and Sanofi S.A.
The global rheumatoid arthritis market is expected to grow from $60.61 billion in 2022 to $60.82 billion in 2023 at a compound annual growth rate (CAGR) of 0.34%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rheumatoid arthritis market is expected to reach $63.26 billion in 2027 at a CAGR of 0.99%.
The rheumatoid arthritis drugs market consists of sales of products like abatacept, aceclofenac and adalimumab.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Rheumatoid arthritis drugs refer to drugs given for the treatment of an autoimmune disease, which has symptoms like inflammation of the tissues around the joints. These medications minimize permanent harm to the joints and other tissues while slowing the progression of rheumatoid arthritis.
North America was the largest region in the rheumatoid arthritis drugs market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of rheumatoid arthritis drugs are nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, disease-modifying antirheumatic drugs (DMARDs), biologic response modifiers (BRMs) and other drug types.Nonsteroidal anti-inflammatory drugs (NSAIDs) refer to a class of drugs that are used to treat inflammation, fever, and other inflammatory conditions.
It avoids many of the adverse effects of steroids.The different route of administration include oral, parenteral, topical and other route of administration.
The rheumatoid arthritis drugs distribution channels include hospital pharmacy, retail pharmacy and online pharmacy.
The growing cases of arthritis is expected to propel the growth of the rheumatoid arthritis drugs market going forward.Rheumatoid arthritis refers to an autoimmune and inflammatory condition where the immune system knowingly harms healthy cells in the body, leading to inflammation (painful swelling) in the body areas affected.
Rheumatoid arthritis drugs and self-management techniques are readily available to treat RA effectively.The drugs reduce pain, enhance joint flexibility, and inhibit the spread of disease.
For instance, in November 2021, according to the Centres for Disease Control and Prevention, a US-based health protection agency, 2021 highlights, in the United States, there were 54.4 million adult-aged people diagnosed with arthritis, which is projected to reach 78 million by the year 2040. Therefore, growing cases of arthritis is expected to drive the rheumatoid arthritis drug market.
Product innovations are a key trend gaining popularity in the rheumatoid arthritis drug market.Companies operating in the rheumatoid arthritis drugs market are adopting new product launches to sustain their position in the market.
For instance, in August 2022, R-Pharm, a Russian private high-tech pharmaceutical company, launched Olokizumab, which is a humanized monoclonal antibody that specifically attacks the cytokine interleukin-6. This messenger molecule has a role in the advancement of joint destruction in rheumatoid arthritis and, like TNF (tumour necrosis factor), triggers inflammatory responses in the body, which lowers the disease activity in many rheumatoid arthritis patients.
In September 2020, Sanofi, a French-based pharmaceutical company, acquired Principia Biopharma Inc. for $3.7 billion. This acquisition strengthens key areas in autoimmune and allergic disorders, obtaining complete control of tolebrutinib (SAR442168) and other BTK inhibitors to continue to advance and maintain leadership in the research and development of oral medications for critical illnesses. Principia Biopharma Inc. is a US-based biopharmaceutical company that manufactures oral small-molecule medication treatments for immunological diseases.
The countries covered in the rheumatoid arthritis drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.
The rheumatoid arthritis drugs market research report is one of a series of new reports that provides rheumatoid arthritis drugs market statistics, including rheumatoid arthritis drugs industry global market size, regional shares, competitors with a rheumatoid arthritis drugs market share, detailed rheumatoid arthritis drugs market segments, market trends and opportunities, and any further data you may need to thrive in the rheumatoid arthritis drugs industry. This rheumatoid arthritis drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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