ALBANY, New York, Feb. 3, 2020 /PRNewswire/ -- A bevy of myriad, yet interconnected factors – ranging from growing prevalence to renewed focus on early detection and management – will sustain bullishness in global arthritis therapeutics market, finds a new study by Transparency Market Research (TMR). Maintaining annual growth rates of over 6% through 2027, global revenues are set to surpass USD 72 billion.
"A robust drug pipeline, head-to-head trails in terms of affordable novel product launches, and ability to investment in distribution channels will hold key for manufacturers to succeed in this ever-evolving competition; retail pharmacies wallet share for manufacturers will be decisive in determine who wins the race", opines TMR.
Key Findings of the Arthritis Therapeutics Market Study
- Rheumatoid arthritis management remains the most lucrative category for drug manufacturers
- Psoriatic drug sales are likely to grow at the highest CAGR, albeit from a low base
- TNF inhibitors remains the highest selling drugs, owing to their efficacy with respect to small molecules
- Parenteral remains the preferred route of administration, as large volume prescriptions of biologic drugs continue to hold sway
- Sales of arthritis therapeutics through retail channels account for the highest revenue share; sales through online channels offer a unique opportunity
Explore 224 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on arthritis therapeutics market by Type: Rheumatoid Arthritis, Osteoarthritis, Psoriatic Arthritis, Gout, and Others; Drug Class: TNF Inhibitors, Interleukin Inhibitors, NSAIDs, Corticosteroids, Xanthine Oxidase Inhibitors, and Others; Route of Administration: Oral, Parenteral, and Topical; Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies, 2019 to 2027 at https://www.transparencymarketresearch.com/arthritis-therapeutics-market.html
Arthritis Therapeutics Market: Key Driving Factors
According to the study, the global arthritis therapeutics market is being driven by increasing incidence and prevalence levels around the globe. Osteoarthritis is among the world's top ten disabling diseases, whereas prevalence of rheumatoid arthritis is in the range of 0.3% to 1% in developed world. The study finds global arthritis therapeutics market growth to be sustained by,
- Increasing prevalence in geriatric population – globally, 9.6% of men and 18% women aged 60+ have symptomatic osteoarthritis
- Use of non-steroidal anti-inflammatory drugs (NSAIDs) as a first line approach – 61% according to Elderly Health Journal 2019
- Increasing obesity levels around the globe – globally, 39% of adults can be categorized as obese. Obesity increases the risk of developing arthritis
- Availability of new research that opens the door to better understanding of how drug interventions can help – notably, Oregon State University's cellular-level research on osteoarthritis
Key Impediments for Arthritis Therapeutics Market Players
Although the Transparency Market Research study maintains a positive outlook on the future of arthritis therapeutics market, it lucidly analyzes the key challenges impacting the landscape. According to the study, the key restraints impeding market growth include,
- High cost of medication – rheumatoid arthritis drug costs have doubled in the last five years
- Difficult implementation of early treatment – the long lag time between symptoms and management through DMARD exceed one year on average
- Self-awareness and proactiveness to seek treatment – key to successful management – remain low in certain demographics, especially in developing countries
Arthritis Therapeutics Market: Region-wise Analysis
- The US has traditionally remained the largest market for arthritis therapeutics, and the status quo is unlikely to change despite the lucrativeness of some markets in Asia Pacific
- Maintaining a stronghold over the US market, while foraying into emerging markets through collaborations and acquisitions will remain a key strategy for market players
- Asia Pacific, home to 60% of world's population, is posing unique challenges to arthritis drug manufacturers. While high prevalence rates in China and India represent significant opportunities, competition from low-priced generics remains rampant
Analyze arthritis therapeutics market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
According to Transparency Market Research, arthritis therapeutics companies across the globe are focusing on improving research and development (R&D). Other strategies that they are exploring in order to stay at the vanguard of their game are synergistic partnerships and collaborations, and product development via innovation. Thus, it surprises no one that a number of launches are lined up during the forecast period.
Furthermore, players operating in the arthritis therapeutic market are working on the high costs to widen the demand base. The key companies analyzed by Transparency Market Research include, but are not limited to, Novartis AG, Eli Lilly and Company, Amgen Inc., Merck & Co., Inc., Bristol-Myers Squibb Company, Pfizer Inc, Janssen Global Services, LLC (Johnson & Johnson), F. Hoffmann-La Roche Ltd, and Sanofi.
Transparency Market Research has segmented the arthritis therapeutics market based on type, drug class, and route of administration, distribution channel, and region.
Arthritis Therapeutics Market Type Outlook (Revenue, USD Million 2017-2027)
- Psoriatic Arthritis
Arthritis Therapeutics Market Drug Class Outlook (Revenue, USD Million 2017-2027)
- TNF Inhibitors
- Interleukin Inhibitors
- Xanthine Oxidase Inhibitors
Arthritis Therapeutics Market Route of Administration Outlook (Revenue, USD Million 2017-2027)
Arthritis Therapeutics Market Distribution Channel Outlook (Revenue, USD Million 2017-2027)
- Retail Pharmacies
- Online Pharmacies
Arthritis Therapeutics Market Region-wise Outlook (Revenue, USD Million 2017-2027)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global pharmaceutical industry:
Acute Kidney Injury Therapeutics Market – Kidney injury therapeutics market study analyses the key trends, innovations, regulatory policies, and key strategies adopted by leading players in this evolving landscape
Targeted Therapeutics Market – The study analyses the targeted therapeutics market by drug type, application, and distribution channel, and offers growth opportunities in USD million across 30+ countries in four regions
Psoriatic Arthritis Therapeutics Market – With global revenues set to exceed USD 17 billion by 2026, drug manufacturers are eying substantial growth in a market growing at over 11% annually. This study details the key influencing factors that will shape market growth in the future
Osteoarthritis Drugs Market – Osteoarthritis, categorized by WHO among the world's top ten 10 disabling diseases, demands holistic therapeutic intervention. TMR's analysis offers key insights on the chief factors at play in this market touted to surpass USD 11 billion by 2026
TNF Inhibitors Market – TNF inhibitors have become the frontline therapeutic intervention in arthritis management. The global TNF inhibitors market is set to grow at 2.54% CAGR through 2026.
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SOURCE Transparency Market Research