Arthritis is a problem associated with joints, in which a person suffers from red, hot, swollen and functionally impaired joints. Rheumatoid arthritis is a type of arthritis that is caused due to loss of tissue lining. A new research report by Persistence Market Research focuses on the various treatment options for rheumatoid arthritis and presents a forecast for this market for next few years. The report is titled ‘Rheumatoid Arthritis Treatment Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’ and reveals the findings of this exhaustive research program. According to the report insights, the global rheumatoid arthritis market held a market value of over US$ 23,900 Mn in 2017, which is expected to reach a valuation in excess of US$ 37,800 Mn by the end of 2025, growing at a CAGR of 5.9%.
Rheumatoid Arthritis Therapies Market: Snapshot
The growth of the rheumatoid arthritis market is driven by macro-economic factors like the increase in aging population of many countries, which subsequently increases the number of patients suffering from rheumatoid arthritis. The prevalence of this disease is also seen to be high in women; one in every 12 women develops rheumatoid arthritis during her lifetime.
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There is also a rise in awareness about the disease in many developed regions. This has increased the rate of disease treatment rather than symptoms treatment. As people are more aware about rheumatoid arthritis they get more inclined towards treating the disease, thereby boosting the sales of drugs in the rheumatoid arthritis treatment market. These factors are expected to mark the advent of a bunch of new products that will hit the market within the next eight years.
North America’s Dominance to be Overshadowed by APAC’s Faster Growth Rate
The North America rheumatoid arthritis market held the highest market value in the past and is also expected to continue leading the global market in future, with a market value of over US$ 16,000 Mn estimated by the end of 2025. However, Asia Pacific is an emerging leader in the competition and is expected to grow at the highest rate of 7.9% during the forecast period 2017-2025.
Middle East and Africa is also expected to show huge scope for development in the global market. Rheumatoid arthritis is one of the leading causes of disability in the Middle East and Africa. A study reveals that prevalence of the disease is reported to be at 0.3% in Egypt and 0.4% in Lesotho. Considering the poor yet fastest growing economy of Africa, generic players have massive scope for growth in the region.
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Top Market Companies and Their Major Challenges
This research report comprises a detailed presentation of all the companies leading in the global market. These companies are considered to hold a higher customer base than any other companies in the industry. The drugs manufactured by these companies are widely used in the global market and there are several other products in the pipeline. Some of these companies mentioned in the report are Sanofi SA, Pfizer Inc., Hoffman-La Roche AG, Johnson & Johnson, AbbVie Inc., Eli Lilly & Company, Amgen Inc. and Sobi Inc.
However there are a few factors that may lead to instability for these businesses, like the discontinuation of drugs due to side effects and associated limitations. It is yet to be seen whether the leading players will come up with a product line that overcomes such challenges and drive the growth of the global rheumatoid arthritis treatment market.