PUBLISHER: The Business Research Company | PRODUCT CODE: 1619421
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619421
Arthritic therapeutics are treatments aimed at relieving symptoms and improving the quality of life for individuals with arthritis. These therapies include medications, physical therapy, and other interventions designed to reduce pain, inflammation, and joint damage, helping to manage conditions such as osteoarthritis and rheumatoid arthritis.
Key drug classes used in arthritic therapeutics include tumor necrosis factor (TNF) inhibitors, interleukin inhibitors, nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, xanthine oxidase inhibitors, and others. TNF inhibitors work by blocking TNF, a protein involved in inflammation, to treat autoimmune diseases. They can be administered orally, parenterally, or topically and are used for various types of arthritis, including psoriatic arthritis, rheumatoid arthritis, osteoarthritis, and gout. These drugs are available through multiple distribution channels, such as hospital pharmacies, retail pharmacies, and online pharmacies.
The arthritic therapeutic market research report is one of a series of new reports from The Business Research Company that provides arthritic therapeutic market statistics, including the arthritic therapeutic industry's global market size, regional shares, competitors with a arthritic therapeutic market share, detailed arthritic therapeutic market segments, market trends and opportunities, and any further data you may need to thrive in the arthritic therapeutic industry. This arthritic therapeutic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The arthritic therapeutic market size has grown strongly in recent years. It will grow from $64.19 billion in 2023 to $68.10 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historic period can be attributed to several factors, a rising number of diagnosed patients, greater awareness of symptoms, an increasing prevalence of obesity, enhanced diagnostic capabilities, and improved treatment outcomes.
The arthritic therapeutic market size is expected to see strong growth in the next few years. It will grow to $86.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The projected growth during the forecast period can be attributed to factors such as advancements in healthcare infrastructure, government initiatives, supportive regulatory frameworks, a focus on personalized medicine, and a shift toward patient-centric healthcare approaches. Key trends expected in this period include an emphasis on biosimilars, a move toward biologics, increased availability of biosimilars, a preference for the parenteral route, and the expansion of online pharmacies.
The rising incidence of arthritis is expected to drive the growth of the arthritic therapeutic market. Arthritis encompasses over 100 conditions primarily characterized by joint pain and inflammation. The increasing prevalence of arthritis is attributed to an aging population, rising obesity rates, and lifestyle factors that contribute to joint stress and inflammation. Treatments for arthritis help relieve symptoms, reduce inflammation, and improve joint function, thus enhancing the overall quality of life for those affected. For example, a June 2024 report from the Australian Institute of Health and Welfare, a government organization based in Australia, noted that approximately 514,000 people (2.0% of the population) were living with rheumatoid arthritis in 2022. Rheumatoid arthritis accounted for 2.0% of the total disease burden and represented 16% of the total burden for all musculoskeletal conditions in 2023. Thus, the growing incidence of arthritis is fueling the expansion of the arthritic therapeutic market.
Leading companies in the arthritis therapeutic market are concentrating on developing advanced solutions, such as biosimilar monoclonal antibody-based therapies, to improve treatment efficacy and reduce costs. These therapies are designed to closely replicate the effectiveness of original monoclonal antibodies, offering similar therapeutic benefits at potentially lower costs. For instance, in May 2024, Bio-Thera Solutions Ltd., a biopharmaceutical company based in China, introduced TOFIDENCE, an intravenous biosimilar monoclonal antibody formulation based on ACTEMRA. TOFIDENCE (tocilizumab-bavi) is developed as a biosimilar to the reference drug ACTEMRA and is approved for treating moderately to severely active rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, and systemic juvenile idiopathic arthritis.
In October 2023, Amgen Inc., a biotechnology company based in the US, acquired Horizon Therapeutics Plc for $27.8 billion. This acquisition aims to strengthen Amgen's portfolio of innovative medicines for rare diseases, leveraging Horizon Therapeutics' capabilities to reach more patients globally and drive long-term growth. Horizon Therapeutics plc is an Ireland-based biotechnology company specializing in arthritic therapies.
Major companies operating in the arthritic therapeutic market are Pfizer Inc., Johnson & Johnson, Hoffmann-La Roche Ltd, Merck & Co Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca Pharma AB, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., Gilead Sciences Inc., Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Zimmer Biomet Holdings Inc., UCB Pharma S.A., Incyte Corporation, Celltrion Inc., Mallinckrodt Pharmaceuticals, Genentech Inc., Anika Therapeutics Inc., Medac GmbH
North America was the largest region in the arthritic therapeutic market in 2023. The regions covered in the arthritic therapeutic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the arthritic therapeutic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The arthritic therapeutics market consists of revenues earned by entities by providing services such as physical therapy services, occupational therapy, diagnostic services, and wellness programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The arthritic therapeutics market also includes sales of analgesics, joint injections, supplements, and disease-modifying antirheumatic drugs (DMARDs). 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.
Arthritic Therapeutic 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 arthritic therapeutic 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 arthritic therapeutic ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The arthritic therapeutic 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.