Press release
Rheumatology Therapeutics Market to Hit $59.1 Billion by 2030
Rheumatology Therapeutics Market
The global rheumatology therapeutics market is poised for steady growth, projected to reach nearly USD 59.1 billion by 2030, expanding at a CAGR of 2.7% from 2024 to 2030, according to Maximize Market Research. This growth is fueled by an aging global population, rising prevalence of rheumatic diseases, and continuous advancements in drug development and biologics.
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◉ Rheumatology Therapeutics Market Competitive Landscape: Biopharma Giants Drive Innovation
Leading pharmaceutical companies are actively shaping the rheumatology therapeutics landscape through strategic mergers, acquisitions, and product innovations. Notable players include Pfizer Inc., Johnson & Johnson, Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis AG, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Janssen Biotech, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals, UCB S.A., Galapagos NV (GLPG), and Genentech Inc.
Recent strategic moves include Alfasigma S.p.A.'s acquisition of the Jyseleca (filgotinib) business from Galapagos NV for $184.54 million, expanding its portfolio in gastrointestinal and rheumatological treatments.
Higher Demand in Asia-Pacific Region
The Asia-Pacific region is anticipated to be the fastest-growing market for rheumatology therapeutics during the forecast period. This growth is attributed to the rising incidence of rheumatic diseases, improving healthcare infrastructure, and increasing access to healthcare services in countries such as China, Japan, and India.
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◉ Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam is witnessing a surge in demand for rheumatology therapeutics, driven by increased healthcare spending and awareness of rheumatic diseases. The government's focus on enhancing healthcare infrastructure presents opportunities for market expansion.
Market Trends in Thailand
Thailand's rheumatology therapeutics market is growing due to a rising aging population and increased prevalence of rheumatic conditions. The country's universal healthcare coverage facilitates access to treatments, encouraging market growth.
Consolidation in Japan
Japanese conglomerate Asahi Kasei made a $1.1 billion bid for Swedish pharmaceutical company Calliditas Therapeutics, aiming to expand its healthcare business, particularly in immunology and related diseases.
Updation in South Korea
South Korea is investing in advanced biologics and biosimilars to treat rheumatic diseases. Local companies are collaborating with global pharmaceutical firms to enhance treatment options and market presence.
Opportunities in Singapore
Singapore's robust healthcare system and emphasis on biomedical research make it a strategic hub for rheumatology therapeutics. The government's support for clinical trials attracts multinational companies to invest in the region.
Market Growth in the United States
The U.S. rheumatology therapeutics market was estimated at USD 13.2 billion in 2023. The market continues to grow, driven by high prevalence of rheumatic diseases and advanced healthcare infrastructure.
Expansion in China
China's rheumatology therapeutics market is projected to reach USD 12.0 billion by 2030, growing at a CAGR of 5.0% from 2023 to 2030. The growth is fueled by increasing healthcare access and rising awareness of rheumatic conditions.
Trends in Europe
Europe remains a significant market, with more than 120 million people affected by some form of arthritis. The region's strong healthcare systems and ongoing research contribute to market stability and growth.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-rheumatology-therapeutics-market/39217/
◉ Rheumatology Therapeutics Market segmentions
by Disease Type
Rheumatoid Arthritis
Ankylosing Spondylitis
Osteoarthritis
Lupus
Gout
Others
by Drug Type
Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
Analgesics
Disease Modifying Anti-Rheumatic Drugs (DMARDs)
Corticosteroids
Uric Acid
Others
by Distribution Channel
Retail Pharmacy
Online Pharmacy
Hospitals
Others
◉ Key Recent Developments
Novartis AG has agreed to acquire Regulus Therapeutics, a California-based drug developer, in a deal valued at up to $1.7 billion, focusing on treatments for kidney diseases.
Merck KGaA announced a deal to acquire U.S.-based biotech firm SpringWorks Therapeutics for approximately $3.9 billion, aiming to enhance its capabilities in rare disease and cancer treatments.
Eli Lilly agreed to purchase DICE Therapeutics for $2.4 billion to strengthen its portfolio in autoimmune and inflammatory disease treatments.
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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