The global arthritis therapeutics market was valued at ~US$ 43 Bn in 2018, and is projected to expand at a CAGR of ~6% from 2019 to 2027, to reach ~US$ 72.6 Bn by 2030
Arthritis Therapeutics Market: Numerous Product and Novel Drug Launches Leading to New Heights
The arthritis therapeutics market, characterized by healthy growth, is witnessing numerous promising pipeline projects and new product launches in parallel to increasing awareness campaigns run by public and private organizations. The patent expiration of blockbuster drugs is putting more pressure on manufacturers to develop effective versions of these drugs, which is projected to pave the way for the advancements of biosimilar products.
According to the Centers for Disease Control and Prevention (CDC) data published in 2018, ~54 Mn adults in the U.S. have been diagnosed with arthritis, and the number will grow to ~78 Mn by 2040. In this fast-paced era, individuals can’t afford to reduce their range of motion, which pertinently entails that those residing in developed countries are massively partaking in the diagnosis and treatment of arthritis as compared to those in developing countries. In the future, as the success of health awareness campaigns increases in developing countries, manufacturers in the arthritis therapeutics market will scramble towards these countries to leverage the first mover’s advantage.
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Perpetual Increase in Drug Prices to Impact Health of Arthritis Therapeutics Market
Despite the stronghold of disease-modifying antirheumatic drugs (DMARDs) in the arthritis therapeutics market, next gen antibody therapeutics are found to gain ground in recent times, on account of their higher efficiency. However, the efficiency of these drugs comes at a price, indeed a high one, ranging from US$ 1,000 to US$ 3,000 per month, which could hold back the sales potential of these drugs.
The price of Humira – a default drug for the treatment of arthritis – saw a steep increase in its price by 68.7% over the last five years, which equals to US$ 3,700 for a month-long supply. Also, the wholesale cost of the drug Enbrel has risen by 80.3% in the same time period, as found by Alliance of Community Health Plans. What’s more of an adoption concern for patients is the lack of discounts and deals, and the retail price further rises when they are distributed to retailers and pharmacies. Given the recommendation for a long-term course of arthritis treatment, high cost can affect the monthly budgets of patients, which could negatively impact sales in the arthritis therapeutics market space.
Parenteral Route to Grow as Preferable Drug-consumption Mode
As per the report, in 2019, the parenteral route of drug administration is projected to be used for ~83% cases for arthritis treatment, while in the remaining ~17% cases, the oral and topical route will be preferred. To put this data into perspective, parenteral administration possesses better control over the dose and frequency, thereby ensuring an improved treatment outcome as compared to oral therapeutics. These routes of drug administration, in turn, are also found to offer better bioavailability and metabolism avoidance. On the contrary, patients are liable to maintain a course of oral drugs on their own, and in cases where they miss out on popping a pill, recovery can take a longer time.
Analysts’ Opinion on Arthritis Therapeutics Market
Analysts of the report opine that, the arthritis therapeutics market will record 8.5% more sales in 2019 over 2018, and continue to advance at a CAGR of ~6% during 2019-2027. The high prevalence of arthritis that primarily weakens the joints and degrades the quality of life of patients, is projected to encourage more patients to avail proper treatment options. Given the growing demand, head-to-head trails to boost the efficacy profiles of drugs intensify the competition in the arthritis therapeutics market, and strategic partnership to target new markets backed by innovative product-level approaches will form a profitable deal for manufacturers.
It is worth noting that, retail pharmacies will take over ~78% sales of these therapeutics in the year 2019, which implies the need for market players to strengthen distribution partnerships with retailers of all scales.
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Global Arthritis Therapeutics Market: Overview
The global arthritis therapeutics market was valued at ~US$ 43 Bn in 2018, and is projected to expand at a CAGR of ~6% from 2019 to 2027, to reach ~US$ 72.6 Bn by 2027.
Increasing incidence of arthritis, including rheumatoid arthritis, osteoarthritis, psoriatic arthritis, gout, and other types of arthritis across the globe, is a major factor that is likely to fuel the global arthritis therapeutics market.
Ongoing arthritis clinical trials, increase in the geriatric population, rising investments in research & development, increasing demand for biologics, launching of novel products, and surge in mergers and strategic alliances are also anticipated to propel the growth of the global market.
Arthritis is an inflammatory joint condition, which causes pain and stiffness, and worsens with age. More than 100 types of arthritis exists, along with different causes and underlying infections. The common types of arthritis are rheumatoid arthritis, psoriatic arthritis, and osteoarthritis.
Several therapeutics and medications have been developed in recent years to relieve and treat the symptoms of arthritis. The most commonly used drugs belong to the drug class of TNF inhibitors, interleukin inhibitors, non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and other drugs. TNF inhibitors are widely utilized for the treatment of arthritis disorders. Arthritis is a highly underdiagnosed and undertreated medical condition, with a large number of patients unsatisfied with the current treatment options available. This offers significant opportunity to biopharmaceutical players operating in the arthritis therapeutics market to offer novel drugs. The under-penetration of biologic drugs in a majority of developed and emerging markets for the treatment of arthritis offers significant opportunities to global biopharmaceutical players.
A large number of both, small molecules and biologic products are under different phases of clinical trials. Leading companies have made significant investments in clinical R&D, and have established strategic partnerships and collaborations to accelerate new product development.
Global Arthritis Therapeutics Market: Key Segment
Based on type, the global arthritis therapeutics market has been categorized into rheumatoid arthritis, osteoarthritis, psoriatic arthritis, gout, and others. Among these, the rheumatoid arthritis segment is the largest, and is expected to dominate the market during the forecast period. The high market share of the rheumatoid arthritis segment can be attributed to the availability of effective biologics for its treatment. The psoriatic arthritis segment is projected to grow at the highest pace during the forecast period, due to increasing number of psoriasis patients likely to develop psoriatic arthritis.
In terms of drug class, the global arthritis therapeutics market has been divided into TNF inhibitors, interleukin inhibitors, NSAIDs, corticosteroids, xanthine oxidase inhibitors, and others. The TNF inhibitors segment dominates the global market, owing to its higher efficacy rate as compared to other small molecules. Moreover, increasing investments toward the development of TNF inhibitor biologics are likely to drive the segment. The interleukin inhibitors segment is expected to expand at the highest CAGR, owing to ongoing clinical studies supporting their effectiveness, and quick adoption of interleukin inhibitors in gout, PsA, and RA indications.
On the basis of route of administration, the global arthritis therapeutics market has been segmented into oral, parenteral, and topical. The parenteral segment accounted for the largest share of the global market, and is expected to continue its dominance, owing to large volume prescriptions of biologic drugs administered through intravenous and subcutaneous injections.
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Based on distribution channel, the global market has been segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment holds a major market share, owing to the easy availability of biologics drugs in retail pharmacies, and increasing retail pharmacy stores across the globe.
Global Arthritis Therapeutics Market: Major Players
Key players operating in the global arthritis therapeutics market include
- Novartis AG
- Eli Lilly and Company
- Amgen Inc.
- Merck & Co., Inc.
- Bristol-Myers Squibb Company
- Pfizer Inc
- Janssen Global Services
- LLC (Johnson & Johnson)
- F. Hoffmann-La Roche Ltd
These players are focused on mergers & acquisitions, development of novel products, launch of biosimilars, and implementation of inorganic and inorganic growth strategies to strengthen their product portfolios and global footprint.
Moreover, companies are attracting investments for the research & development of arthritis drugs in order to improve patient care and remain competitive in the global market.
Key Questions Answered in the Arthritis Therapeutics Market Report
- How does the recent launching of novel and effective drugs provide scope of growth in the global market?
- How are ongoing clinical trials for arthritis widening the scope for arthritis therapeutics?
- How are various drug classes effective in the treatment of arthritis, and provide opportunities to key players for growth?
- What are the revenue share projections of key segments under various criteria in the global market for the forecast period?
- Which segment is likely to lead the market in terms of revenue by 2027?
- How are changing regulatory scenarios, along with changing healthcare systems in developed and developing countries having an impact on the overall market?
Global Arthritis Therapeutics Market – Segmentation
- Rheumatoid Arthritis
- Psoriatic Arthritis
- TNF Inhibitors
- Interleukin Inhibitors
- Xanthine Oxidase Inhibitors
Route of Administration
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Arthritis Therapeutics Market
4. Market Overview
4.1.1. Market Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Arthritis Therapeutics Market Analysis and Forecast, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Key product/brand Analysis
5.2. Pipeline Analysis
5.3. Disease Prevalence & Incidence Rate globally with key countries
5.4. Regulatory Scenario by Region/globally
6. Global Arthritis Therapeutics Market Analysis and Forecast, By Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Arthritis Therapeutics Market Value (US$ Mn) Forecast, by Type, 2017–2027
6.3.1. Rheumatoid Arthritis
6.3.3. Psoriatic Arthritis
6.4. Market Attractiveness By Type
7. Global Arthritis Therapeutics Market Analysis and Forecast, By Drug Class
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Arthritis Therapeutics Market Value (US$ Mn) Forecast, by Drug Class, 2017–2027
7.3.1. TNF Inhibitors
7.3.2. Interleukin Inhibitors
7.3.5. Xanthine Oxidase Inhibitors
7.4. Market Attractiveness By Drug Class
8. Global Arthritis Therapeutics Market Analysis and Forecast, By Route of Administration
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Arthritis Therapeutics Market Value (US$ Mn) Forecast, by Route of Administration, 2017–2027
8.4. Market Attractiveness By Route of Administration
9. Global Arthritis Therapeutics Market Analysis and Forecast, By Distribution Channel
9.1. Introduction & Definition
9.2. Key Findings / Developments
9.3. Arthritis Therapeutics Market Value (US$ Mn) Forecast, by Distribution Channel, 2017–2027
9.3.1. Hospital Pharmacies
9.3.2. Retail Pharmacies
9.3.3. Online Pharmacies
9.4. Market Attractiveness By Distribution Channel
10. Global Arthritis Therapeutics Market Analysis and Forecast, By Region
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