Market Overview
The global Rheumatoid Arthritis Market is expected to continue to develop steadily, breaking past growth records in terms of value with a notable CAGR over the review period. Rheumatoid arthritis is a long-term inflammatory disease that affects more than just the joints. It has been discovered that the disorder can harm numerous sections of the human system, including the lungs, skin, eyes, heart, and blood vessels, in some people.
Market Trends
The global market for rheumatoid arthritis is rapidly expanding. The growing prevalence of rheumatoid arthritis is mostly due to the ageing population. Additionally, some data suggests that smokers have a higher chance of getting rheumatoid arthritis. The high number of people suffering from autoimmune disease, which has been discovered to be three times more common in women than in males, is another important factor impacting the market’s growth. The cause of the gender divide is unknown, but researchers believe it has to do with hormones. According to Health Union, LLC is a common chronic condition that affects about 1.3 million Americans and as much as 1% of the world’s population. The market is being influenced further by big pharmaceutical companies taking attempts to create rheumatoid arthritis-related goods. Furthermore, there is a tremendous opportunity in developing countries that is being seized by numerous industry participants in order to grow their global footprint.
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Market Segmentation
Non-steroidal anti-inflammatory drug type (NSAID), Steroids, Disease-modifying anti-rheumatic drug type (DMARDs), and biologic agents are the drug types that are comprises in the global rheumatoid arthritis market.
Synovectomy, Tendon repair, Joint fusion, and Total joint replacement are some of the options for treatment. C-reactive protein (CRP) test, CCP, ESR (Erythrocyte Sedimentation Rate) test, and Synovial Fluid Analysis are also used in the diagnosis.
Regional Overview
The global market is divided into areas such as the Americas, Europe, Asia Pacific, and the Middle East and Africa. Due to a rising patient pool visiting professionals due to rheumatoid arthritis and favourable governmental conditions for research and development, the Americas account for the biggest market share of more than 38 percent. According to a research conducted by the Centers for Disease Control and Prevention in March 2017, roughly 54.4 million adults in the United States suffer with arthritis, accounting for around 25% of the population. Arthritis is the most common cause of disability, producing joint discomfort, soreness, stiffness, and swelling. Rheumatoid arthritis and osteoarthritis are the two most frequent types of arthritis. According to the same study, by 2040, 78 million adults in the United States, or 26% of the population, will have been diagnosed with arthritis by a doctor.
Rheumatoid arthritis is the second most common disease in Europe. The United Kingdom has the fastest-growing rheumatoid arthritis market in Europe. Rheumatoid arthritis affects around 690,000 persons in the United Kingdom, according to the National Rheumatoid Arthritis Society (NRAS). Furthermore, government initiatives to raise awareness of rheumatoid arthritis are impacting market growth.
The Asia-Pacific area is predicted to grow at the fastest rate. With more than 60% of the world’s population, the Asia Pacific region has provided a significant opportunity for researchers to investigate epidemiology, pathogenesis, and influence various manufacturers to expand their operations in this region. Since the founding of the Asia Pacific League of Associations for Rheumatology (APLAR) in 1963, there has been tremendous progress in the treatment of rheumatoid arthritis. There is potential for growth in the region as a result of numerous advancements.
Due to a lack of awareness, a lack of emphasis on research and development efforts, and insufficient medical facilities, the Middle East and Africa has the smallest share of the rheumatoid arthritis market.
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Competitive Dashboard
Pfizer Inc (US), Eli Lilly and Company (US), Bristol-Myers Squibb Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (US), Sanofi (France), AstraZeneca (UK), and others are some of the major competitors in this industry.
The global market for rheumatoid arthritis looks to be extremely competitive and fragmented, as evidenced by the presence of various well-established and minor firms. With a well-established market in North America, large businesses like as Pfizer Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Vertex Pharmaceuticals Incorporated, and others have established a presence and produce significant market share. These firms have also expanded their operations in a number of other emerging markets. In addition, numerous small and medium-sized businesses profit from the local market.
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