Rheumatology Therapeutics Market to grow with a CAGR of 5.30% During Forecast Period
Increasing healthcare infrastructure and
a supportive regulatory environment are the major drivers for the Global
Rheumatology Therapeutics Market.
According to TechSci Research
report, “Global Rheumatology Therapeutics Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global
Rheumatology Therapeutics Market has valued at USD 22.34 billion in 2022 and is
anticipated to witness an impressive growth in the forecast period with a CAGR
of 5.86%. This can be due to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Personalized medicine, which tailors’
medical treatment to individual patient characteristics, is a significant
driver of demand in the Global Rheumatology Therapeutics Market. This approach
recognizes that patients with rheumatic diseases, such as rheumatoid arthritis
(RA) and lupus, can have varying disease manifestations, genetic profiles, and
responses to treatment. Personalized medicine allows healthcare providers
to select treatments that are more likely to be effective for a particular
patient based on their unique disease profile. This can lead to better
treatment outcomes, including reduced disease activity, joint damage, and pain.
Advances in genomics and biomarker research have led to the identification of
specific genetic markers and biomarkers associated with rheumatic diseases.
These markers can guide treatment decisions, helping to match patients with the
most appropriate therapies. Personalized medicine aims to minimize the risk of
adverse effects by tailoring treatments to individual patient characteristics.
This is particularly important in rheumatology, where medications can have side
effects, and some patients may be more susceptible than others.
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Rheumatology refers to the discipline of
inside medication including the determination and treatment of rheumatic
sicknesses. Rheumatic sicknesses are characterized as the irritation that
influences joints, ligaments, tendons, bones and now and again organs. These
illnesses are otherwise called outer muscle infection causing serious torment,
distortion, and grimness. The treatment typically costs a lot. A few kinds of
rheumatic infections with various side effects are seen all over the world
among all age gatherings.
In April 2022, the FDA has authorized
RINVOQ for the treatment of people with active ankylosing spondylitis (AS) who
have experienced a suboptimal response to or intolerance to one or more tumor
necrosis factor (TNF) blockers, according to a statement from AbbVie.
Inflammatory back pain, stiffness, and limited mobility are some of the
incapacitating symptoms of AS, a chronic inflammatory musculoskeletal illness
that primarily affects the spine. Approximately 1.1 million adults in the US,
or one out of every 200, are thought to have AS. RINVOQ is a selective JAK
inhibitor that was found and created by AbbVie researchers and is currently
being researched for use in several immune-mediated inflammatory illnesses.
RINVOQ showed stronger inhibitory potency for JAK-1 than JAK-2, JAK-3, and
TYK-2.1 in enzymatic and cellular studies. The relationship between the
inhibition of JAK enzymes and treatment efficacy and safety is not currently
understood.
Biosimilar competition is a significant
challenge in the Global Rheumatology Therapeutics Market, as well as in the
broader pharmaceutical industry. Biosimilars are biologic drugs that are highly
like already approved reference biologics but typically come at a lower cost.
One of the primary drivers behind the development and adoption of biosimilars
is their potential to reduce the cost of biologic therapies. While this can be
advantageous for patients and healthcare systems, it poses a challenge to
innovative biologic manufacturers who may face price competition. The
availability and adoption of biosimilars can erode the market share of
reference biologics. As more biosimilars enter the market, they may capture a
significant portion of the patient population, impacting the sales of the originator
biologics. Achieving market access and securing favorable reimbursement
for biosimilars can be challenging. This can limit the adoption of biosimilars
and their ability to compete effectively.
Global Rheumatology Therapeutics Market
segmentation is based on Indication, Distribution Channel, End User and Region.
Based on Indication, Global Rheumatology
Therapeutics Market is segmented into Ankylosing Spondylitis, Gout,
Osteoarthritis, Psoriatic Arthritis, Rheumatoid Arthritis. Rheumatoid
arthritis (RA) is a chronic autoimmune disease that primarily affects the
joints but can also impact other organs and systems in the body. It is one of
the most common types of autoimmune arthritis. In RA, the immune system
mistakenly attacks the synovium, which is the lining of the membranes that
surround the joints. This immune response leads to inflammation, pain,
swelling, and ultimately, joint damage. The most common symptoms of RA include
joint pain, swelling, stiffness, and warmth. These symptoms typically affect
multiple joints on both sides of the body, such as the wrists, knees, and
fingers. Morning stiffness that lasts for hours is a characteristic feature. RA
is a progressive disease, which means that it tends to worsen over time if left
untreated. Without proper management, it can lead to joint damage, deformities,
and disability.
Based on Region, North
America dominated the Global Rheumatology Therapeutics Market. Many
individuals in North America have health insurance coverage, which can reduce
out-of-pocket expenses for rheumatology treatments and medications, making it
more accessible to a broader population. North American pharmaceutical
companies and research institutions invest significantly in the development of
rheumatology therapeutics. This contributes to a strong pipeline of new drugs
and treatments. The region conducts a substantial number of clinical
trials related to rheumatology therapeutics. This not only advances research
but also attracts patients from around the world who seek cutting-edge
treatments. Patient advocacy groups in North America actively raise
awareness about rheumatic diseases, leading to earlier diagnosis and treatment,
which can improve patient outcomes and drive market demand.
Asia-pacific region to fastest
growth in the Global Rheumatology Therapeutics Market. The Asia-Pacific
region is home to a significant and rapidly growing population. With a larger
population, there is a higher likelihood of an increased prevalence of
rheumatic diseases, such as osteoarthritis, rheumatoid arthritis, and lupus. As
countries in the Asia-Pacific region experience demographic shifts toward aging
populations, the incidence of rheumatic diseases, which are often associated
with older age groups, may rise. This demographic change can boost the demand
for rheumatology therapeutics. Many countries in the Asia-Pacific region have
been increasing their healthcare spending and investments in healthcare
infrastructure. This allows for improved access to healthcare services,
including rheumatology care and treatments. Efforts to raise awareness about
rheumatic diseases and the importance of early diagnosis and treatment have
been increasing in the Asia-Pacific region. As awareness grows, more
individuals may seek medical attention for their symptoms.
Some of the major companies operating in
the Global Rheumatology Therapeutics Market include:
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Pfizer Inc.
- Merck & Co., Inc.
- Amgen Inc.
- Novartis AG
- Janssen Pharmaceuticals, Inc.
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Johnson & Johnson Private Limited
- F. Hoffmann-La Roche Ltd
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“Certain areas, particularly in North
America, are projected to exert significant demand for Rheumatology Therapies.
The growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people
each year, are expected to contribute to a remarkable growth of the Global
Rheumatology Therapeutics Market in the forecast period," said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
Rheumatology Therapeutics Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Indication
(Ankylosing Spondylitis, Gout, Osteoarthritis, Psoriatic Arthritis, Rheumatoid
Arthritis), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies,
Online Pharmacies), by region, and Competition evaluated the future growth
potential of Global Rheumatology Therapeutics Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide innovative market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Rheumatology Therapeutics Market.
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