A chronic systemic autoimmune illness, rheumatoid arthritis (RA) mainly damages the body's synovial joint lining. is linked to increased disability, early mortality, and to some degree socioeconomic pressures. Tenacious discomfort and inflammation that primarily affects the peripheral joints are the hallmarks of rheumatoid arthritis. The course of rheumatoid arthritis is defined by a symmetrical or bilateral pattern. This is due to the fact that the disease initially affects the knee and leg joints. Inflammation of the joint's lining results in tissue destruction, which eventually causes unsteadiness, persistent pain, and deformity. The mouth, eyes, lungs, and heart are extra-articular areas of the body that might be impacted by this illness.
Global Rheumatoid Arthritis Drugs Market Driving Factors and Challenges
Growing incidence of the disease, the emergence of biologics and biosimilars, and clearly established regulatory policies are anticipated to provide impetus to the global market for rheumatoid arthritis medications and treatments. Revenue development is expected to be aided by expanding knowledge about syndrome remittance therapy and rising healthcare costs, especially in industrialized nations. Higher incidence rates, the introduction of new therapeutic agents, and the increase in elderly population, who are more susceptible to rheumatoid arthritis, are the main factors propelling the global market for rheumatoid arthritis medications and treatments. Biologics' improved availability, affordability, and advantageous effects are what are driving the market's expansion. In developing countries, there is a greater need for them, while in developed countries, the launch of newer, more efficient products are driving up demand.
Currently, the biggest restricting factor in the global market is that the condition has no permanent cure, despite years of study. Only symptom control, not symptom eradication, is possible with drugs and complex therapy approaches. Furthermore, the resources available to develop medications for rheumatoid arthritis are limited in developing nations. Therefore, a significant obstacle to growing the global market for rheumatoid arthritis medications is the scarcity of resources in many of these nations. It is difficult for the average person to afford therapy because of the high cost of drugs. A significant barrier to the market is the high cost of several treatment modalities and medications.
Impact of COVID-19 on Global Rheumatoid Arthritis Drugs Market
The World Health Organization (WHO) declared the COVID-19 pandemic a public health emergency of worldwide concern on January 30, 2020. Nearly 210 countries have been affected by COVID-19 worldwide. According to the Lancet Rheumatology 2020, patients with rheumatoid arthritis who have COVID-19 infection may be more prone to have severe symptoms and other issues. Some DMARDs, such as hydroxychloroquine, are commonly used in the treatment of rheumatoid arthritis and are being investigated as potential COVID-19 treatments. Furthermore, additional widely used therapies, such as biologics that target interleukin (IL)-6 (sarilumab, tocilizumab) and IL-1 (anakinra), are being studied for individuals with COVID-19. As a result, during the projected timeframe, the COVID-19 infection enhanced growth potential for manufacturers of rheumatoid arthritis drugs.
Rheumatoid Arthritis Drugs Market Key Players:
The market study includes market data by competitive landscape, revenue analysis, market segments, and a detailed analysis of key market players such as AbbVie Inc, Johnson & Johnson Innovative Medicine, Amgen Inc, Pfizer Inc, Novartis AG, Sanofi S.A, F. Hoffmann-La Roche Ltd, Merck & Co, Inc, Bristol-Myers Squibb Company, and Eli Lilly and Company.
Global Rheumatoid Arthritis Drugs Market Segmentation:
By Drug Class Type: Based on the Drug Class Type, Global Rheumatoid Arthritis Drugs Market is segmented as, Disease-modifying Anti-Rheumatic Drugs, Nonsteroidal Anti-inflammatory Drugs, Corticosteroids, Uric Acid Drugs, Others.
By Route of Administration: Based on the Route of Administration, Global Rheumatoid Arthritis Drugs Market is segmented as; Oral, Parenteral.
By Sales Channel: Based on the Sales Channel, Global Rheumatoid Arthritis Drugs Market is segmented as; Prescription-based Drugs, Over-the-counter Drugs.
By Distribution Channel: Based on the Distribution Channel, Global Rheumatoid Arthritis Drugs Market is segmented as; Hospital Pharmacy, Retail Pharmacy, Online Pharmacy.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.