Global Rheumatoid Arthritis Market - Overview
Rheumatoid arthritis is a chronic inflammatory condition that possible can distress more than just the joints. It is found that in some individuals, the disorder also can damage a various parts of body system, including the lungs, skin, eyes, heart and blood vessels. The global Rheumatoid Arthritis Market is expected to grow at a healthy CAGR of ~4% during the forecast period 2017-2022.
The major factors influencing the growth of the market include high number of individuals suffering from the autoimmune disease, it has been observed that this disease is found three times more in women than as men. The reason behind gender gap is still unknown, but researchers say it’s something to do with the hormones. According to Health Union, LLC is one of the common chronic disease that affects approximately 1.3 million Americans and as much as 1% of the global population. Big pharmaceutical companies taking steps for the development of products related to rheumatoid arthritis is further influencing the growth of the market. Moreover there is a huge opportunity in developing nations that is grabbed by various market players for expanding their presence in the region. The market is forecast to demonstrate a steady growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017–2022.
Global Rheumatoid Arthritis Market - Competitive Analysis
Pfizer Inc. (U.S), Eli Lilly and company (U.S), Bristol-Myers Squibb Company (U.S), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (U.S), Sanofi (France), AstraZeneca (U.K) are some of the prominent players at the forefront of competition in the Global Rheumatoid Arthritis Market and are profiled in MRFR Analysis.
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Characterized by the presence of several well-established and small players, the global market of rheumatoid arthritis appears to be highly competitive and fragmented. With well-established market in the North America region major companies like Pfizer Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Vertex Pharmaceuticals Incorporated, and various others have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other emerging regions as well. Moreover the other small and medium scale players are generating revenue from local market.
The market for rheumatoid arthritis is highly competitive with companies focusing on the development of oral drug and treatment. U.S based pharmaceutical company Pfizer is one of the leaders in the market. The company in February 2016, announced the approval of its product XELJANZ XR (tofacitinib citrate) by the U.S. Food and Drug Administration (FDA). The 11mg drug product has been approved for daily once treatment of medium to severe rheumatoid arthritis. XELJANZ has been approved in more than 45 countries across the globe for the treatment of moderate to severe RA. The company has been involved in this market for more than 60 years and being the leader in the market continues for the development of the market.
Global Rheumatoid Arthritis Market - Regional Analysis
The global market is segmented into the various regions including Americas, Europe, Asia Pacific, and the Middle East Africa. The Americas accounts for the largest market share of about more than ~38 market share due to increasing patient pool visiting professionals due to rheumatoid arthritis and favourable governmental conditions for research and development. According to the study conducted by the Centers for Disease Control and Prevention in March 2017 it was estimated that about 54.4 million U.S. adults suffer from arthritis that is approximately about 25% of its population. Arthritis is the key cause of disability, and causing pain, aching, stiffness, and swelling of the joints. The most common type of arthritis is rheumatoid arthritis osteoarthritis. According to the same study it is expected that by 2040, 78 million i.e. 26% of the U.S. adults of age 18 years or older are anticipated to have doctor-diagnosed arthritis.
Europe is the second largest market of rheumatoid. U.K. the fastest growing market rheumatoid arthritis in the Europe. According to the National Rheumatoid Arthritis Society (NRAS) it is estimated that approximately 690,000 people suffer from rheumatoid arthritis across the UK. Furthermore government taking initiates for the awareness of rheumatoid arthritis is influencing the growth of the market.
Asia Pacific expected to be the fastest growing region. The Asia Pacific region accounting for more 60% of the world's population has provided a great opportunity for researchers to study the epidemiology, pathogenesis and influencing various manufacturers for the expansion of their unit in this region. There has been huge development for the treatment of rheumatoid arthritis since the formation of the Asia Pacific League of Associations for Rheumatology (APLAR) in 1963. Due to various developments in the region there is potential growth in the region.
The Middle East Africa holds the least share in the rheumatoid arthritis market due to lack of awareness, less emphasis on research and development activities, and poor medical facilities.
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