Antirheumatics Market to reach $71.93 billion by 2026 with to key players Pfizer, F. Hoffmann-La Roche, Amgen Inc., Bristol-Myers Squibb Company
Pune, Maharashtra, India, December 16 2020 (Wiredrelease) Allied Analytics :According to the report, the global anti-rheumatics industry accounted for $57.22 billion in 2018, and is estimated to reach $71.93 billion by 2026, growing at a CAGR of 2.9% from 2019 to 2026. Rise in prevalence of rheumatoid arthritis, increase in elderly population, and surge in incidence of obesity worldwide fuel the growth of the global anti-rheumatics market. On the other hand, side effects related to the medication and higher cost of biologics biosimilars curtail down the growth to certain extent. However, RD activities in the field of biosimilars and novel biologics are expected to pave the way for multiple opportunities in the industry.
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Increase in incidence of rheumatoid arthritis, surge in geriatric population, and rise in incidence of obesity across the world drive the growth of the global anti-rheumatics market. However, side effects related to the medication and higher cost of biologics biosimilars hinder the growth of the market. On the other hand, RD activities in the field of biosimilars and novel biologics present numerous opportunities in the market.
The disease modifying anti-rheumatic drugs (DMARDs)segment to maintain its dominance till 2026-
By on drug class, the disease modifying anti-rheumatics drugs (DMARDs) segment contributed to more than one-third of the total market revenue in 2018, and is anticipated to lead the trail during the study period. The nonsteroidal anti-inflammatory drugs (NSAIDs) segment, on the other hand, is projected to register the fastest CAGR of 3.7% by 2026. The other segments analyzed in the report include corticosteroids and uric acid drugs.
The major factor that boosts the growth of the anti-rheumatics market include surge in geriatric population worldwide. Furthermore, surge in the incidences of rheumatoid arthritis is another major factor that contributes toward the growth of the market. In addition, the increase in incidences of obesity across the globe propels the growth of the anti-rheumatics market. Furthermore, the growth potential offered by rise in awareness related to early screening and treatment of rheumatoid arthritis during the forecast period offers lucrative opportunities for the growth of the market. However, the high price of biologics hinder the growth of the market
North Americato lead in terms of revenue during the forecast period
Based on region,North Americaheld the highest share in 2018, accounting for nearly one-third of the global anti-rheumatics market, and will lead during the forecast period. This is due to easy availability of anti-rheumatics and increase in geriatric population that are susceptible to nephrological disorders. However,Asia-Pacificis estimated to witness the largest growth rate, with a CAGR of 3.7% from 2019 to 2026. This is attributed to increase in healthcare expenditure and surge in awareness of anti-rheumatics.
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Key players in the industry-
The key market players analyzed in the global anti-rheumatics market report include Johnson Johnsons, MedImmune, LLC, Amgen Inc., Bristol-Myers Squibb Company, Pfizer, Inc., F. Hoffmann-La Roche Ltd., Takeda Pharmaceutical Company Ltd., Celegene Corporations, Biogen Inc., and Celltrion Inc. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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