Report Description of the APAC Rheumatoid Arthritis Therapeutics Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for APAC Rheumatoid Arthritis Therapeutics Drug Market
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Migraine Drug market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
APAC Rheumatoid Arthritis Therapeutics Drugs Market Executive Summary
Rheumatoid Arthritis (RA) is a chronic, progressive, and currently incurable autoimmune disease that primarily affects the joints. It is characterized by synovial inflammation and gradual bone erosion over many years. Moreover, surge in focus of leading manufacturers on expanding their geographical presence in emerging Asia-Pacific countries to capture high rheumatoid arthritis drugs market share is expected to drive the growth of the market in the region.
Market Size and Key Findings
The APAC Rheumatoid Arthritis Therapeutics Market size stood at around USD 5.6 billion in 2018 and is projected to reach USD 9.5 billion by 2023, exhibiting a CAGR of 8% during the forecast period.
The RA therapeutic market has become very competitive due to the high number of new drug approvals. Competition is fierce, particularly among TNFa inhibitors, which dominate the treatment market for RA patients who are refractory to traditional disease-modifying antirheumatic drugs (DMARD). Despite this, 30% of RA patients fail to attain a clinical response when treated with TNFa inhibitors. However, other targeted programs, as well as newly marketed small-molecule DMARDs such as the Janus kinase (JAK)I nhibitor Xeljanz (tofacitinib), have the potential to replace ineffective TNFa inhibitors.
Market Growth Drivers Analysis
Owing to the presence of large population base susceptible to rheumatoid arthritis, increase in public awareness toward use & benefits of these drugs, the development of the R&D sector, rise in healthcare reforms, and an increase in the adoption of rheumatoid arthritis drugs. Moreover, increase in demand for DMARDs and rise in the geriatric population contribute toward growth of the market.
Side effects associated with the medication and high costs of biological DMARD therapies are expected to act as the key restraints of the global market.
The key companies operating in the market include Pfizer Inc., AbbVie Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche AG, Eli Lily and Company, AstraZeneca PLC, and Amgen Inc.
Products in Pipeline
Few pipeline Agents include one GM-CSF-inhibiting biologic (GSK’s otilimab), one IL-6-inhibiting biologic (R-Pharm’s olokizumab), one TNF-inhibiting biologic (Taisho’s ozoralizumab), one BTK inhibitor (Roche/Genentech’s fenebrutinib), and one IRAK 4 inhibitor (Pfizer’s PF-06650833).
Notable Recent Deals
Recently, Elli Lilly, a US-based major pharmaceutical company, has entered into licensing agreements with a number of Indian drug manufacturers for the manufacture of and supply of Baricitinib in India which is showing promise as a drug for the treatment of Covid-19.The licensing agreement with Eli Lilly is voluntary, royalty-free, and non-exclusive in nature for the manufacture and commercialization of the drug in India
Healthcare Policies and Regulatory Landscape
Pricing and Reimbursement scenario of APAC Rheumatoid Arthritis Therapy
Pfizer China announced today that it has received approval from the Chinese Food and Drug Administration (CFDA) to market its oral Janus kinase (JAK) inhibitor, XELJANZ® (tofacitinib citrate), in China for the treatment of adult patients with moderately to severely active rheumatoid arthritis (RA) who have had an inadequate response or intolerance to methotrexate (MTX). It may be used in combination with MTX or other non-biologic disease-modifying antirheumatic drugs (DMARDs).