Report Description of the US Rheumatoid Arthritis Therapeutics Market Analysis
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 US Rheumatoid Arthritis Therapeutics Market Analysis
- 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 US Rheumatoid Arthritis Therapeutics Market Analysis
- 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
US Rheumatoid Arthritis Therapeutics Market Analysis Executive Summary
North America is currently dominating the rheumatoid arthritis therapeutics market in the region. This is attributed to the couple of factors such as growing prevalence of rheumatoid arthritis patients, strong clinical pipeline, favorable reimbursement policies, and high healthcare infrastructure. Moreover, rising healthcare spending and growing approval of novel drugs are some of the factors that are propelling the market growth.
Market Size and Key Findings
The US Rheumatoid Arthritis Therapeutics Market Analysis size stood at around USD 9.9 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Market Growth Drivers Analysis
Rising incidence of rheumatoid arthritis coupled with growing geriatric population base is driving the market growth. The growing demand for biologics and increasing penetration of generic drugs coupled with rising number of FDA approvals for the treatment of rheumatoid arthritis is boosting the market growth.
High cost of biologics and accessibility to these biologics may restrict the market growth in the upcoming years.
Few of the key companies operating in rheumatoid arthritis therapeutics market include AbbVie, Regeneron Pharmaceuticals, Inc., Novartis International AG, Pfizer Inc., Bristol-Myers Squibb., Hoffmann-La Roche AG, Johnson & Johnson, Boehringer Ingelheim GmbH, UCB S.A., and Amgen Inc. Key companies in the market are constantly focusing on the development and launch of novel biologics in order to gain a competitive edge and maintain their position in the market.
Products in Pipeline
- For instance, in August 2019, AbbVie announced that the U.S. Food and Drug Administration (FDA) has approved RINVOQ™ (upadacitinib), a 15 mg, once-daily oral Janus kinase (JAK) inhibitor, for the treatment of adults with moderately to severely active rheumatoid arthritis (RA) who have had an inadequate response or intolerance to methotrexate (MTX-IR).
- In November 2020, the U.S. Food and Drug Administration approved the emergency use of Eli Lilly’s arthritis drug baricitinib, in combination with Gilead Sciences’ remdesivir, to treat COVID-19 patients.
Notable Recent Deals
- In 2017, AbbVie Inc., emerged dominant in the global rheumatoid arthritis therapeutics market.
- For instance, in 2020, Pfizer and Lilly went into a collaboration agreement to jointly develop and globally commercialize tanezumab for the treatment of osteoarthritis pain and cancer pain, under which the companies equally share ongoing development costs.
- In February 2021, Pfizer and Imcyse, a Belgium-based clinical-stage biopharmaceutical company, announced that they have entered into a research collaboration and license agreement for the potential treatment of rheumatoid arthritis (RA) via Imcyse’s RA program based on its Imotope technology.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
Different combinations of biologics to treat RA are expected to achieve more complete control of joint inflammation and destruction. Even though the first trial on combination therapy with anakinra and abatacept was shown to increase chances of infection, TNF inhibitors and interlukin-17 inhibitors such as secukinumab seem to be more a promising combination therapy. Recent pre-clinical investigations have shown that combination is significantly capable of reducing joint pathology in the murine experimental arthritis model. Hence, a future combination of TNF inhibitors with an anti-IL-17 antibody seems plausible. Moreover, new era of bi-specific antibodies is expected to push market growth over the forecast period.