Global Arthritis Drug Market Overview:
Arthritis drugs are used to treat joint inflammation. Arthritis may affect a single joint or many. Arthritis affects people of all ages, genders, and races, and it is the leading cause of disability in the United States. The most common signs of arthritis are joint pain, stiffness, and swelling. According to reports, over 50 million adults and 300,000 children suffer from arthritis. It is more common in women than in men, and it affects people over the age of 65. Rheumatoid arthritis has a global annual incidence of 3 cases per 10,000 people and a prevalence rate of 1%, rising with age and peaking between the ages of 35 and 50. Throughout the forecast period, rising cases of rheumatoid arthritis and osteoarthritis will drive market development.
Growth Drivers
- Increasing prevalence in geriatric population especially women
- Growing Use of Use of Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
Market Trends
- Self-Awareness And Pro-Activeness To Seek Treatment
Roadblocks
- High Cost Of Arthritis Drugs
Opportunities
- Increasing Obese Population Around The Globe
- Rising Awareness About The Therapeutics In Emerging Economies
Challenges
- Growing Demand For Low-Priced Generics
Competitive Landscape:
The global arthritis drugs market is highly competitive and consists of a limited number of vendors who compete with each other. The intense competition, changing consumer spending patterns, and demographic trends pose significant risk factors for manufacturer’s growth.
Some of the key players profiled in the report are Novartis AG (Switzerland), Eli Lilly and Company (United States), Amgen Inc. (United States), Merck & Co., Inc. (United States), Bristol-Myers Squibb Company (United States), Pfizer Inc. (United States), Johnson & Johnson (United States), F. Hoffmann-La Roche Ltd (Switzerland), Bayer AG (Germany) and Sanofi S.A. (France). Analyst at AMA Research see United States Players to retain maximum share of Global Arthritis Drug market by 2026. Considering Market by Route of Administration, the sub-segment i.e. Oral will boost the Arthritis Drug market. Considering Market by Arthritis , the sub-segment i.e. Degenerative Arthritis (Osteoarthritis) will boost the Arthritis Drug market.
On 26th January 2021, Rinvoq received European Commission (EC) approval for its drug named Rinvoq. This drug is for oral consumption once-daily and is used to treat psoriatic arthritis (PsA). Rinvoq previously received FDA and EMA approval for rheumatoid arthritis (RA) in 2019
What Can be Explored with the Arthritis Drug Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Arthritis Drug Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Arthritis Drug
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Arthritis Drug market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Arthritis Drug market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Arthritis Drugs Providers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists, Private Equity Firms, Government Regulatory and Research Organizations and End-User Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.