Rheumatoid Arthritis Pain Management Market Expected to Witness a Sustainable Growth by 2026
Albany, NY -- (SBWire) -- 04/20/2019 --Rheumatoid arthritis is an autoimmune disorder that is characterized by the systemic inflammation of the joints. It is a type of chronic disorder and causes inflammation of the joints and other areas of body. Rheumatoid arthritis occasionally affects the kidney, lungs, eyes, blood, and skin. This condition can lead to symptoms such as joint pain; stiffness; swelling; fatigue; and destruction of cartilage, bones and ligaments. In addition, chronic inflammation due to rheumatoid arthritis may cause joint destruction or damage to the joint. Physical examination and blood tests are helpful for the diagnosis of rheumatoid arthritis. In addition, Xray imaging is commonly used to understand the progression of rheumatoid arthritis. Women are more prone to rheumatoid arthritis pain as compared to men.
The Rheumatoid Arthritis Pain Management Market is witnessing positive growth owing to high incidence of this disorder. For example, according to the American College of Rheumatology (ACR), approximately 1.3 million people in the U.S. are affected by rheumatoid arthritis, and this number is projected to increase every year. In addition, the geriatric population is at a high risk of rheumatoid arthritis. For example, according to the Arthritis Foundation, the average age of a person with arthritis is 66.8 years. Thus, a rise in the geriatric population globally is projected to further augment the market in the coming years.
For example, according to a report published by the World Health Organization (WHO), the number of people aged 65 years or older is expected to increase from 605 million to 2 billion by 2050. This, in turn, is likely to boost the patient population that is seeking treatment for rheumatoid arthritis. This is likely to drive the market in the near future. Moreover, many drug companies join the National Institute of Health (NIH), aiming to develop novel and effective rheumatoid arthritis drugs. This is expected to further fuel the market.
Strong business strategies of key players to expand their business in emerging economies are also anticipated to drive the market during the forecast period. For example, in May 2013, Amgen, Inc. and Astellas Pharma Inc., a Tokyo-based pharmaceutical company, collaborated to provide new medicines to address serious unmet needs of Japanese patients. Rheumatoid arthritis remains a serious chronic disease, with a wide range of symptoms and outcomes. Advances in treatment have made it possible to slow progression of the disease, but a complete cure is not possible, which is likely to restrain the market in the coming years. In addition, lack of trained rheumatologists with proper skill and knowledge who enable proper treatment is further expected to restrain the market.
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The rheumatoid arthritis pain management market can be segmented based on drug, end-user, and geography. Based on drug, the market can be divided into non-steroidal anti-inflammatory drugs (NSAIDs), anti-inflammatory biologics, corticosteroids, and others. In terms of end-user, the rheumatoid arthritis pain management market market can be categorized into hospitals, specialized clinics, and ambulatory surgery centers. The rheumatoid arthritis pain treatment market is projected to expand rapidly in the coming years as FDA approvals for treatments of rheumatoid pain are on rise.
In terms of geography, North America dominates the global rheumatoid arthritis pain management market. Increase in incidence of rheumatoid arthritis pain in the region has led to an increase in adoption of available treatment. This is anticipated to drive the rheumatoid arthritis pain management market in North America. In addition, according to the Arthritis Foundation, diseases such as rheumatoid arthritis cost nearly US$ 128 Mn to the U.S. economy every year. Thus, significant costs of dealing with the disease are likely to prompt governments of countries in North America to engourage development of new cost-effective therapeutics. This is expected to drive the market in the region in the near future. Europe is a prominent region of the rheumatoid arthritis pain management market. Increased spending by key regional players on research and development is anticipated to fuel the market in Europe. Asia Pacific is an emerging region of the rheumatoid arthritis pain management market due to increase in awareness about the disease among the patient population.
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Leading players competing in the rheumatoid arthritis pain management market are AbbVie Pharmaceutical, Pfizer, Inc., Amgen, Inc., Novartis AG, Eli Lilly and Company, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Sanofi, and others.
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