Prominent companies
operating in the global rheumatology therapeutics market are AbbVie,
Inc., Pfizer, Inc., Bristol-Myers Squibb Company, Merck & Co.,
Inc. etc. Some other key players in the market are Amgen, Inc.,
Janssen Biotech, Inc., Novartis AG, Genentech, Inc., Sanofi, and
Takeda Pharmaceutical.
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A report by
Transparency Market Research uncovers after in-depth study that the
global rheumatology therapeutics market will rise at a lackluster
CAGR of 2.7% from 2017 to 2025 to become worth US$ 52.96 bn by 2025
from US$41.88 bn in 2016.
The various drug
classes in the global rheumatology therapeutics market are disease
modifying anti-rheumatic drugs (DMARDs), non-steroidal
anti-inflammatory drugs (NSAID’s), corticosteroids, uric acid
drugs, etc. The DMARDs, which is a group of medicines or combination
of medicines used to treat rheumatic diseases by blocking the
inflammation, accounts for maximum share in the market at present.
They are categorized into two major types - biologic DMARDs and
synthetic DMARDs. By rising at a 2.6% CAGR from 2017 to 2025 the
segment is expected to retain its dominant share in the upcoming
years.
Geographically, the
key segments of the global rheumatology therapeutics market are North
America, South America, Europe, Asia Pacific, and the Middle East and
Africa. Of them, North America leads the market with dominant share
on account of a burgeoning geriatric population highly susceptible to
various kinds of rheumatology disorders. Further, uptake of biologics
and biosimilar products for treating moderate to severe rheumatoid
arthritis and superior healthcare facilities has also proved
beneficial to the market in the region.
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Burgeoning
Elderly Population Drives Growth
Rheumatology is the
multidisciplinary approach towards the diagnosis and treatment of the
various rheumatic disease which includes clinical problems in joints,
soft tissues, heritable connective tissue disorders, vasculitis, and
autoimmune diseases. Rheumatic disease is associated with
inflammation that affects the bones, tendons, ligaments, and
sometimes organs.
At the forefront of
driving growth in the global rheumatology therapeutics market is the
ever-increasing elderly population worldwide and swift approval of
new drugs for treating various rheumatic diseases. In August 2017,
for example, the FDA approved DUZALLO drug by Ironwood
Pharmaceuticals, Inc. and AstraZeneca. It is the first and only
therapy that leverages two types of mechanisms in gout with only one
pill. Again, in 2017, Kevzara (Sanofi and Regeneron Pharmaceuticals,
Inc.) got the FDA approval to treat adult patients with moderately to
severely active rheumatoid arthritis (RA). In 2017, AbbVie Inc., a
global leader in anti-rheumatic drugs, announced its four potential
candidates, which are Upadacitinib, Risankizumab, ABBV-599, and
ABT-981, that are in different phases of clinical trials to treat
conditions such as rheumatoid arthritis, psoriatic arthritis, and
osteoarthritis (OA).
Investment into
Research and Development Benefits Market
Other factors
positively influencing the market are rising knowledge among people
about rheumatic diseases and emergence of cost-effective rheumatology
therapeutics. Further, increasing investment in research and
development is likely to bolster the growth of global rheumatology
therapeutics market during the forecast period.
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