The Global Rheumatoid Arthritis Drugs Market is projected to reach a value of over USD 39.26 Billion by 2030, growing at a CAGR of 4.34% from 2021-2030. Rheumatoid arthritis (RA) is an autoimmune disorder that causes inflammation, swelling, and pain in the joints. RA is caused by an abnormal immune response that causes the body to attack its joints, resulting in chronic inflammation and joint damage.
The increasing prevalence of rheumatoid arthritis, the rising geriatric population, technological advancements in RA drugs, and the availability of novel biologic drugs are the major factors driving the growth of the global rheumatoid arthritis drugs market. The increasing prevalence of RA has led to an increase in demand for effective treatments and the introduction of novel biologic drugs, such as TNF inhibitors, interleukin inhibitors, and others. This has further driven the growth of the global rheumatoid arthritis drugs market.
Restraints of the Global Rheumatoid Arthritis Drugs Market
- High Cost of Treatment: The cost of Rheumatoid Arthritis Drugs is very high and this is one of the major restraints of the global Rheumatoid Arthritis Drugs market. The cost of drugs is a major concern for many patients in developing countries and it is also an obstacle to access to treatment.
- Limited Availability of Drugs: The availability of Rheumatoid Arthritis Drugs is limited in some countries due to several factors such as limited availability of drugs, lack of knowledge and awareness, and lack of access to healthcare.
- Side Effects: Rheumatoid Arthritis Drugs have several side effects, including gastrointestinal upset, liver toxicity, and skin reactions. These side effects can be serious and may limit their use in some patients.
- Stringent Regulatory Framework: The stringent regulatory framework in some countries is one of the major restraints of the global Rheumatoid Arthritis Drugs market. This framework restricts the availability of drugs and also increases the cost of the drugs.
The Global Rheumatoid Arthritis Drugs Market is segmented by type, route of administration, and region. By type, the market is segmented into TNF inhibitors, interleukin inhibitors, DMARDs, and others. By route of administration, the market is segmented into oral, injectable, and others. Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is expected to dominate the global rheumatoid arthritis drugs market due to the high prevalence of RA and technological advancements in drug discovery. The Asia Pacific region is expected to witness a significant growth rate during the forecast period due to the increasing awareness about RA, the growing geriatric population, and increasing disposable income in the region.
Some of the major players operating in the global rheumatoid arthritis drugs market are AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Eli Lilly & Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer Inc., and others.
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