Rheumatoid Arthritis Pharmacotherapeutics Market to Observe Strong Development by 2024
Rheumatoid arthritis (RA) refers is a painful inflammatory disease that can reach a point of fatality if it is left untreated. The main classes of drugs being used to treat RA are non-steroidal anti-inflammatories (NSAIDs), glucocorticoids, analgesics, along with biologic and non-biologic disease-modifying antirheumatic drugs (DMARDs). Often combination therapies are being used to provide targeted treatment for the various elements of the immune system.
The research report assesses the global market using a Porter’s five forces analysis and a SWOT analysis. The former market measurement tool evaluates the competitive landscape present in the global Rheumatoid Arthritis Pharmacotherapeutics Market. It states the threat of new entrants to the existing market dynamics along with bargaining power of suppliers and buyers. The research report also profiles the top players in the global market and presents a detailed understanding of the financial outlook. The second tool is used for examining the strengths, weaknesses, opportunities, and threats that are likely to influence the segments of the global market. The document is prepared with an intention to help the readers make well-informed decisions about for their businesses.
The increasing investments in research and development of drugs for treating rheumatoid arthritis (RA) have lent a significant impetus to the global rheumatoid arthritis pharmacotherapeutics market in recent years. The global market offer therapeutics such as tumor necrosis factor (TNF) inhibitors, non-TNF biologics, and novel oral disease-modifying antirheumatic drugs (DMARDs). The research report indicates that TNF inhibitor segment is the leading segment of the global market. The various TNF inhibitors are Remicade, Humira, and Enbrel as they are often prescribed as the first line of treatment.
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The majority of these drugs and combination treatments are aimed towards ensuring minimal damage to the joints, reducing the impact of arthritis disease activity, and help patients reach a point of remission. In totality, all the drugs are aimed at helping the patients to improve their quality of life.
Analysts anticipate that the launch of new biologics in the global market is likely to hamper the demand for TNF inhibitors to a significant extent. However, patients are also likely to opt for cheaper treatment options as the new biologics are also expected to remain unaffordable to many.
The global rheumatoid arthritis pharmacotherapeutics market has been segmented on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. Currently, North America leads the global market due to a remarkable healthcare infrastructure in the country. Analysts anticipate that initiatives to offer affordable health care across North America will boost the regional market in the near future. Additionally, increasing awareness about the disease and ability to spend on healthcare are also likely to improve the demand for rheumatoid arthritis pharmacotherapeutics in North America during the forecast period. Asia Pacific is also anticipated to be an emerging market due to the growing number of unmet medical needs, rising disposable incomes, and increasing pool of geriatrics.
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Some of the leading players operating in the global rheumatoid arthritis pharmacotherapeutics market are Johnson & Johnson, Amgen, and Abbott. According to the research report, Amgen holds a leading position in the global market, though all of these companies hold round about the same shares in the overall market.