Arthritis Drug Market - Industry Value Forecast, Dynamics, growth, potential, segments, market share, Size, online PDF Report, Free Sample Copy, Future projection, Analysis, supply and demand, trends, opportunities, Product types, Regions, current market, worth, overview, Competition Landscape and Dashboard.
New York, NY -- (SBWIRE) -- 01/22/2018 -- Arthritis is condition that causes pain and inflammation in joints. Around 100 different types of arthritis related conditions present globally and it is one of the leading cause of disability worldwide. The most common types of arthritis includes: Psoriatic Arthritis, Rheumatoid Arthritis, Osteoarthritis, are among others. It affects all ages of people, however, it occurs more frequently as people get older. Symptoms of arthritis includes pain, tender, stiffness and swelling of joints. According to arthritis foundation, around 0.3 Million children and 50 Million adults are suffering from arthritis in the U.S. Currently, there is no cure for arthritis disease conditions. However, there are drugs that can effectively control the conditions of arthritis.
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In addition to that, treatment of arthritis varies from person to person basically it depends upon severity and impact. Large pool of population and increase in research on arthritis drugs could be seen as lucrative market opportunities for the arthritis drugs market. In January 2016, the U.S. FDA approved Cosentyx developed by Novartis to treat patients with psoriatic arthritis and ankylosing spondylitis conditions. In January 2017, Eli Lilly submitted new drug application with the U.S. FDA for rheumatoid-arthritis treatment to commercialize Baricitinib in the U.S. market. Patent expiration of few antirheumatic biologicals will boost the development of biosimilars. In February 2015, Celltrion launched Remsima — first biosimilar to be approved by EMA— to market the drug in 12 European Markets. They will also be the preferred choice for governments and private insurance companies looking to limit expenditure
Growing burden of incidence of osteoarthritis, psoriatic arthritis and rheumatoid arthritis patients are major factors driving the growth of global arthritis drugs market. According to CDC estimation from 2010-2012, about 52.5 million US adults had some form of arthritis conditions among them persons with age 65 or older reported higher prevalence of arthritis conditions than the other ages due to "wear and tear" on the joints. However, due to lack of proper medication to cure arthritis and higher cost of the medications are hindering the growth of this market over the forecast period.
Disease modifying anti-rheumatic drugs occupies the major market share in drug class. Methotrexate is the most commonly used synthetic DMARD's to treat arthritis conditions However, biological DMARD's are gaining traction due to inadequate response or intolerance to synthetic DMARD's on arthritis. The segment is expected to grow rapidly over the forecast period due to increase in approvals for biologicals and rise in development of new biologicals.
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Based on the route of administration, it is segmented into oral route and parenteral route. In arthritis drugs market, parenteral route is more preferred mainly due to majority of the formulations are in the form of intravenous injections or infusions. However, intravenous injections/ infusions are difficult to administer. To avoid administration difficulties various companies are developing oral drug formulations of JAK inhibitors to increase ease of administration.
On the basis of regional presence, global arthritis drugs market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to increase over the forecast period due to increase in number of arthritis patients, rise in awareness among people and improved healthcare infrastructure in the region. Asia Pacific market is projected to grow with significant CAGR over the forecast period due to large pool of population, increase in R & D activities of biosimilars, growing awareness is contributing the growth of this market.
Some of the major players in global Arthritis Drugs market are Novartis AG, Eli Lilly, Celltrion, F. Hoffmann-La Roche Ltd, Pfizer Inc and Johnson & Johnson Services Inc., and GSK
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