Arthritic Therapeutic Market Set to Soar as Global Elderly Population Reaches 1.4 Billion by 2030

Know More: https://www.alliedmarketresearch.com/arthritic-therapeutic-market

The global arthritic therapeutics market, valued at $79.5 billion in 2022, is set to grow at a CAGR of 5.5%, potentially reaching $136.1 billion by 2032. Key factors driving this expansion include the aging population, lifestyle factors, and advancements in biologics and biosimilars.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/2571

Market Drivers
• Aging Population: By 2030, the World Health Organization estimates that 1.4 billion people worldwide will be over 60, amplifying demand for arthritis treatments.
• Arthritis Prevalence: CDC data indicates that approximately 53.2 million U.S. adults have arthritis, highlighting the need for effective treatments.
• Healthcare Infrastructure: Investment in healthcare infrastructure globally is facilitating better arthritis diagnosis, management, and treatment access.

Market Segmentation
1. By Product Type
• NSAIDs: Dominated the market in 2022 due to widespread use in pain relief.
• Biologics: Expected to grow fastest, with targeted treatments improving symptom management.

2. By Application
• Rheumatoid Arthritis: Holds the largest share, driven by innovative treatments and research.
• Osteoarthritis: Poised for rapid growth due to rising obesity rates and aging demographics.

3. By Region
• North America: The largest revenue share in 2022, driven by advanced healthcare and patient awareness.
• Asia-Pacific: Predicted to grow at the highest CAGR, supported by economic development and aging populations.

Key Market Dynamics
• Rising Biosimilar Demand: Biosimilars offer affordable alternatives to established biologics, increasing market competition and reducing treatment costs.
• Innovation in Personalized Medicine: Targeted treatments, especially biologics, are evolving to improve patient outcomes.
• Economic Pressures: The ongoing economic challenges might impact patient access to expensive biologics, but increased biosimilar availability could offset this by offering cost-effective options.

Challenges Facing the Market
• Alternative Therapies: Some patients prefer non-traditional treatments like acupuncture or dietary supplements.
• Diagnosis Delays: Lack of awareness and diagnostic resources can hinder early treatment and impact market growth.

Recent Developments
• FDA Approvals: Recent FDA approvals for innovative treatments, such as Novartis' Cosentyx IV formulation, highlight a focus on psoriatic arthritis and ankylosing spondylitis.
• Biologic Advancements: Amgen's Otezla and AbbVie's SKYRIZI provide targeted solutions, meeting demand for comprehensive care in arthritis management.

Future Outlook
With the rapid growth in biosimilar research, increasing awareness, and an expanding geriatric population, the arthritic therapeutics market is poised for sustained growth, providing patients with diverse and affordable treatment options.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2571

𝐂𝐨𝐧𝐭𝐚𝐜𝐭

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