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Rheumatoid Arthritis Drugs Global Market Types and Applications, Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies And Forecast 2024-2033
Rheumatoid Arthritis Drugs Global Market
According to The Business Research Company's, The rheumatoid arthritis drugs market size has grown marginally in recent years. It will grow from $60.82 billion in 2023 to $61.06 billion in 2024 at a compound annual growth rate (CAGR) of 0.4%. The growth in the historic period can be attributed to increasing disease prevalence, healthcare infrastructure growth, awareness and education initiatives, government initiatives and support, strategic collaborations.
The rheumatoid arthritis drugs market size is expected to see marginal growth in the next few years. It will grow to $64.86 billion in 2028 at a compound annual growth rate (CAGR) of 1.5%. The growth in the forecast period can be attributed to personalized medicine trends, emerging markets growth, pipeline development, focus on combination therapies, increasing healthcare expenditure. Major trends in the forecast period include biological therapies dominance, biosimilars impact, personalized medicine advances, oral therapies growth, focus on early diagnosis and intervention.
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Market Drivers and Trends:
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 Centers 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 (tumor necrosis factor), triggers inflammatory responses in the body, which lowers the disease activity in many rheumatoid arthritis patients.
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Major Key Players of the Market:
Pfizer Inc.; Abbvie Inc.; Amgen Inc.; Novartis AG; Boehringer Ingelheim International GmbH; Eli Lilly and Company; F-Hoffmann La Roche AG; Bristol-Myers Squibb Company; AstraZeneca PLC; Merck & Co Inc.; Johnson & Johnson Inc.; Bayer AG; Teva Pharmaceuticals Industries Ltd.; Sun Pharmaceutical Industries Ltd.; Sanofi S.A; Biogen Inc.; Regeneron Pharmaceuticals Inc.; Galapagos NV; Abbott Laboratories; Takeda Pharmaceutical Company Limited; Mitsubishi Tanabe Pharma Corporation; UCB S.A. Belgium.; Astellas Pharma Inc.; Corbus Pharmaceuticals Holdings Inc.; Roche Holding AG; Daiichi Sankyo Company Limited; Chr. Hansen Holding A/S; Ipsen S.A; Mallinckrodt Pharmaceuticals; Gilead Sciences Inc.
Rheumatoid Arthritis Drugs Market 2024 Key Insights:
• The rheumatoid arthritis drugs market size will grow to $64.86 billion in 2028 at a compound annual growth rate (CAGR) of 1.5%.
• Rising Arthritis Cases Fueling Market Growth For Rheumatoid Arthritis Drugs
• Growth In The Rheumatoid Arthritis Drug Market With Introduces To Address Disease Activity
• North America was the largest region in the rheumatoid arthritis drugs market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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2.2 Role of Biological Agents in Rheumatoid Arthritis
2.2.1 TNF- Inhibitors
2.2.2 Interleukin -1 and IL-6 Blockers
Classification of Rheumatoid Arthritis Drugs
3.1…
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