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Increasing burden of rheumatology diseases globally is propelling the growth of rheumatology therapeutics market

09-19-2018 05:14 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Clinical Diagnostic Industry

Rheumatology Therapeutics Market

Rheumatology Therapeutics Market

Rheumatology diseases affects the supporting or connecting structures of the body mostly joints, ligaments, muscles, tendons, and rarely some organs of the body. This disease is characterized by inflammation of joints and it affects spine in some types of rheumatology disease. There are more than 100 types of rheumatic disease. It is caused by various genetic and environmental factors, such as unhealthy diet and changing lifestyle, which can lead to rheumatology diseases. Osteoarthritis, ankylosing spondylitis, rheumatoid arthritis, gout, psoriatic arthritis, reactive arthritis, fibromyalgia, and scleroderma are some of the common types of rheumatology diseases. Rheumatology treatment involves medications, exercises, and physical therapies with surgical treatment to cure joint damage. Early treatment can be beneficial for treatment of rheumatologic symptoms. Physicians prescribe disease-modifying antirheumatic drugs (DMARD’s) for the treatment of rheumatologic disease. Sufficient nutrition, proper exercise, and medications can help to cure rheumatology diseases.

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Increasing burden of rheumatology diseases globally is propelling the growth of rheumatology therapeutics market

The increase in population with some sort of rheumatology arthritis globally is major driving factor for the rheumatology therapeutics market. According to data given by Centers for Disease Control and Prevention (CDC) in 2013, around 52.5 million of adults in the U.S. have suffered from rheumatology arthritis, which equals to 23% of the population with 1% being the prevalence rate of rheumatology diseases globally. According to the Global Burden of Disease 2010 study data, prevalence rate for knee arthritis globally was 3.8% and for hip osteoarthritis was 0.85% globally. Additionally, technological advancements in medical field, investments in the healthcare sector over research and development, and rising trend of fitness are important factors contributing to the growth of rheumatology therapeutics market. According to the World Health Organization (WHO) in 2014, government spent 15.5% on healthcare sector.

However, introduction of biosimilars is major restraint for rheumatology therapeutics market. Increasing demand for biosimilar may hinder the conventional drug commonly used for rheumatology diseases treatment. Patent expiry of some drugs used in the treatment of rheumatology diseases is also hampering the growth of rheumatology therapeutics market. For instance, patent expiry of Enbrels drug in 2012.

Rheumatoid arthritis holds the largest share due to high prevalence rate in the rheumatology therapeutics market

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The global rheumatology therapeutics market is segmented by disease type, by drug type, by end user, and by region

On the basis of disease type, the rheumatology therapeutics market is segmented into:
• Osteoarthritis
• Ankylosing spondylitis
• Rheumatoid arthritis
• Gout
• Psoriatic arthritis
• Reactive arthritis
• Fibromyalgia
• Scleroderma
• Others
On the basis of drug type, the rheumatology therapeutics market is segmented into:
• Disease Modifying Antirheumatic Drugs (DMAD’s)
• Humira
• Remicade
• Cyclosporine
• Methotrexate
• Biologics
• Tofacitinib
• Others
On the basis of end user, the rheumatology therapeutics market is segmented into:
• Hospitals
• Medical clinics

Established healthcare sector of North America is contributing to the leading position of this region in rheumatology therapeutics market
The key players are involved in doing licensing agreement with other manufacturers to hold the major market share in rheumatology therapeutics market

Key industry players operating the rheumatology therapeutics market includes AstraZeneca, Rigel pharma, Abbott Laboratories, Pfizer, Amgen, Janssen Biotech, Merck Co. Inc., Eli Lily, and Alder Biopharmaceuticals. Key players are involved in the acquisitions and agreement with other companies to hold the maximum share. For instance, licensing agreement of Bri Stol-Myers Squibb with Alder Biopharmaceuticals Company and the major acquisition of Ardea Biosciences by AstraZeneca are one of the important agreements between 2007 and 2012.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Worldwide Market Reports
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Coherent Market Insights
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