PUBLISHER: The Business Research Company | PRODUCT CODE: 1546579
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546579
Rheumatology therapeutics include treatments designed to manage and alleviate the symptoms of rheumatic diseases such as arthritis, lupus, and gout. These therapies encompass medications such as anti-inflammatory drugs, disease-modifying antirheumatic drugs (DMARDs), and biologics, as well as physical therapy and lifestyle changes. The primary objective is to reduce inflammation, control pain, and enhance patients' quality of life.
The main categories of rheumatology therapeutics are disease-modifying antirheumatic drugs, nonsteroidal anti-inflammatory drugs, corticosteroids, uric acid drugs, and others. Disease-modifying antirheumatic drugs (DMARDs) are a class of medications intended to slow or alter the underlying disease process in rheumatoid arthritis and other autoimmune conditions, rather than merely alleviating symptoms. These drugs are available through hospital pharmacies, retail pharmacies, and online pharmacies and are used to treat conditions such as rheumatoid arthritis, osteoarthritis, gout, psoriatic arthritis, ankylosing spondylitis, and others.
The rheumatology therapeutics market research report is one of a series of new reports from The Business Research Company that provides rheumatology therapeutics market statistics, including rheumatology therapeutics industry global market size, regional shares, competitors with a rheumatology therapeutics market share, detailed rheumatology therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the rheumatology therapeutics industry. This rheumatology therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rheumatology therapeutics market size has grown steadily in recent years. It will grow from $40.45 billion in 2023 to $42.40 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth during the historic period can be attributed to the rising prevalence of rheumatologic disorders, the increasing global aging population, growing awareness about treatment options, advancements in biological therapies, and the expansion of healthcare access in emerging markets.
The rheumatology therapeutics market size is expected to see steady growth in the next few years. It will grow to $51.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to the shift towards personalized medicine approaches, the rising adoption of biosimilars in rheumatology, increased investment in research and development, the integration of digital health technologies, and regulatory approvals for novel therapies. Major trends anticipated during this period include the growth of telemedicine and remote monitoring solutions, the expansion of targeted therapies for specific rheumatic conditions, an emphasis on patient-centric care models, the extension of biologic treatments beyond monoclonal antibodies, and the adoption of value-based pricing models.
The increasing prevalence of autoimmune diseases is anticipated to drive the growth of the rheumatology therapeutics market. Autoimmune diseases occur when the immune system mistakenly attacks the body's own tissues. The rise in these diseases is attributed to genetic, environmental, and lifestyle factors, alongside increased awareness and improved diagnostics. Rheumatology therapeutics are essential for managing inflammation, alleviating symptoms, and preventing joint and tissue damage caused by these immune responses. For example, a June 2024 report from the Australian Institute of Health and Welfare, an Australian government agency, estimated that around 514,000 Australians, or 2.0% of the population, were living with rheumatoid arthritis in 2022. This condition accounted for 2.0% of the total disease burden and 16% of the burden for all musculoskeletal conditions in 2023. Consequently, the rising prevalence of autoimmune diseases is boosting the rheumatology therapeutics market.
Leading companies in the rheumatology therapeutics market are developing innovative solutions, such as intravenous (IV) formulations, to improve treatment efficacy and patient convenience. An intravenous (IV) formulation involves administering medication directly into a vein via a needle or catheter. For instance, in October 2023, Novartis AG, a Swiss pharmaceutical company, announced that the US Food and Drug Administration (FDA) had approved an IV formulation of Cosentyx. This version of Cosentyx is approved for treating adults with psoriatic arthritis (PsA), ankylosing spondylitis (AS), and non-radiographic axial spondyloarthritis (nr-axSpA). It works by specifically targeting and inhibiting interleukin-17A (IL-17A) and is the only non-tumor necrosis factor alpha (TNF-a) IV treatment available for these conditions.
In February 2024, Alfasigma S.p.A., an Italian pharmaceutical company, acquired the Jyseleca (filgotinib) business from Galapagos NV for $184.54 million. This acquisition has expanded Alfasigma's product portfolio with an innovative pharmaceutical targeting gastrointestinal and rheumatological treatments. Additionally, it strengthens Alfasigma's presence in European markets by integrating Jyseleca's business, including marketing authorizations across Europe and the UK, and operations in commercialization, medical affairs, and development. Galapagos NV is a Belgian manufacturer of rheumatology therapeutics.
Major companies operating in the rheumatology therapeutics market are Pfizer Inc., Johnson & Johnson, Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis AG, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Janssen Biotech, Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals, UCB S.A., Galapagos NV (GLPG), Genentech Inc.
North America was the largest region in the rheumatology therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rheumatology therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the rheumatology therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rheumatology therapeutics market consists of revenues earned by entities by providing services such as diagnostic services, telemedicine, rehabilitation services, and lifestyle and nutritional counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The rheumatology therapeutics market also includes sales of biologic response modifiers, janus kinase (JAK) inhibitors, analgesics, and immunosuppressants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Rheumatology Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rheumatology therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rheumatology therapeutics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rheumatology therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.