Global Rheumatoid Arthritis Drug Market to Reach $2.3B by 2022

March 26, 2018

WELLESLEY, Mass., March 26, 2018–The global rheumatoid arthritis drug market is entering a crucial stage of development, with mounting pressure to reduce drug development costs while also providing treatment options for an aging population, according to a report by BCC Research. The market is also being affected by growing demand from emerging markets, sedentary lifestyles, and advancements in diagnosis and treatments.

The global market for this growing sector of the health care field was valued at $1.7 billion in 2017 and is forecast to grow by a compound annual growth rate (CAGR) of 6.6% through 2022, when it will be worth an estimated $2.3 billion, according to the report Drugs for Rheumatoid Arthritis: Global Markets to 2022.

Major players in the market include AbbVie Inc., Hoffman-La Roche AG, Amgen Inc., Pfizer Inc., Bristol-Myers Squibb Co., Johnson & Johnson, UCB Biosciences Inc., Mitsubishi Tanabe Pharma Corp., Biogen Inc. and Merck & Co.

Research Highlights

• North America claims the largest share of the rheumatoid arthritis market, accounting for one-third of the global market. South America is expected to witness the fastest growth in the rheumatoid arthritis drug market, with an estimated CAGR of 8.3% through 2022, followed by North America, which expects a CAGR of 7.5%.
• Disease-modifying antirheumatic drugs (DMARDs) accounted for the largest share of the rheumatoid arthritis drug market in 2017 at $1.4 billion. The highest growth is projected to come from corticosteroids, which is forecasted to grow at a CAGR of 8%. Major factors impacting this sector include economic growth, technological developments and rapid growth in the global elderly population.
• Brazil and China are forecasted to have the fastest growth in the global market, with CAGRs through 2022 of 10.1% and 9.8%, respectively.

“An aging population is driving strong growth in this market, since rheumatoid arthritis predominantly occurs in 40-70-year olds,” said Robert G. Hunter, BCC Research senior editor, healthcare. “Approximately 1% of the world’s population is diagnosed with the disorder, and furthermore, rheumatoid arthritis affects women 2-3 times more than men.”

Market Restrained by High Costs for Research and Development

The rheumatoid arthritis drug market has been negatively impacted by the large investment of time and resources which pharmaceutical companies spend in the research and development of new drugs. The drug approval process is long, the report notes, and sometimes trials are suspended in the late stages of development due to unforeseen developments. RA drugs are impacted more than most since they are typically complex biologics, costly to develop and test. Other market restraints include high medication costs, and a large undiagnosed and untreated population, particularly in developing countries.

Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.

Small Molecule Therapies for Rheumatoid Arthritis: Global Markets to 2022( PHM195A )
Publish Date: Mar 2018    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.