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Albany, New York, June 13, 2019 (GLOBE NEWSWIRE) -- According to the experts at Transparency Market Research, the global rheumatoid arthritis drugs market is anticipated to exhibit a growth of 3.0% CAGR during the forecast period of 2018 to 2026. They also predict that the market shall rise from US$19.59 bn in 2016 to US$26.75 bn by the end of 2026.
The global rheumatoid arthritis drugs market shall witnesses the highest growth in biologic response modifier segment in drug type category. The growth of the segment is attributed to the rising usage of the drug in the treatment of severe rheumatoid diseases across the globe. Also, the increasing number of hospital providing treatment for rheumatoid diseases is also one of the prominent reason promoting growth of the segment in global rheumatoid arthritis drugs market during the forecast period.
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Geographically, the global rheumatoid arthritis drugs market shall mark the highest growth in Asia Pacific region. The region shall experience this growth owing to the increasing number of rheumatoid arthritis incidences in various countries of the region. The rise in healthcare expenditure is also fueling the growth of the rheumatoid arthritis drug market in the region. Moreover, low manufacturing cost of the drug in countries like China and India could attract many pharmaceuticals companies to set their businesses in the region. This overall shall influence the growth of rheumatoid arthritis drug market in Asia Pacific region.
Rising Geriatric Population to Boost the Growth of Market
As a result of increasing aging population in various countries, the number of rheumatoid arthritis incidences has witnessed substantial growth. This has elevated the growth of global rheumatoid arthritis drugs market in the forecast period. Secondly, the growing number of novel biological launches, and rising number of generic drugs are estimated to provide a significant boost to the global rheumatoid arthritis drugs market.
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Moreover, the patients who have been treated with Disease-Modifying Antirheumatic Drugs of DMARDs have mentioned their lack of satisfaction due to poor therapeutic benefits. Various healthcare institutes offer a combination of biologics and DMARDs for such patients. Such steps by various healthcare organization to treat the rheumatoid arthritis is also one of the major reasons expected to promote the growth of the global rheumatoid arthritis drugs market during the forecast period.
Growing Reimbursement Policies May Hamper the Growth of the Market
As a result of improving healthcare infrastructure, the growth of global rheumatoid arthritis drugs market may get hampered in the forecast period. However, as the number of geriatric population grows and cases of rheumatoid arthritis rise, the players of global rheumatoid arthritis drugs market are expected to possess multiple opportunities to grow. Also, new drug launches by these players for the treatment of rheumatoid arthritis shall also support the global rheumatoid arthritis drugs market to overcome all the challenges and continue to grow in the forecast period.
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As per the latest report by Transparency Market Research, the global rheumatoid arthritis drugs market is notably fragmented and is influenced by the activities of some of the major players across the globe. Since being largely fragmented players are trying hard to get at the top of the global rheumatoid arthritis drugs market and maintain their dominance. They are adopting strategies such as mergers, partnerships, and collaborations with various other players in order to provide better resource planning and brand expansion. Some of the players are also acquiring various small and medium scale businesses in the market. The acquisition is a part of players’ strategies in order to expand their production capacity and generate more profit.
Some of the major players of global rheumatoid arthritis drugs market are F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Bristol-Myers Squibb Company, Pfizer, Inc., Eli Lilly and Company, and Novartis AG.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Rheumatoid Arthritis Drugs Market (Drug Type - Disease-modifying Anti-rheumatic Drugs (DMARDs), Non-steroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Biologic Response Modifiers (Biologics); Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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