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Global Rheumatoid Arthritis Market - Overview
Rheumatoid arthritis is a chronic inflammatory condition
that possible can distress more than just the joints. It is found that in some
individuals, the disorder also can damage a various parts of body system,
including the lungs, skin, eyes, heart and blood vessels. The global Rheumatoid
Arthritis Market is expected to grow at a healthy CAGR of ~4% during the
forecast period 2017-2022.
The major factors influencing the Rheumatoid
Arthritis Market Sizeinclude high number of individuals suffering
from the autoimmune disease, it has been observed that this disease is found
three times more in women than as men. The reason behind gender gap is still
unknown, but researchers say it’s something to do with the hormones. According
to Health Union, LLC is one of the common chronic disease that affects
approximately 1.3 million Americans and as much as 1% of the global population.
Big pharmaceutical companies taking steps for the development of products
related to rheumatoid arthritis is further influencing the growth of the
market. Moreover there is a huge opportunity in developing nations that is
grabbed by various market players for expanding their presence in the region.
The market is forecast to demonstrate a steady growth by 2022, surpassing its
previous growth records in terms of value with a striking CAGR during the
anticipated period 2017–2022.
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Global Rheumatoid Arthritis Market - Competitive Analysis
Pfizer Inc. (U.S), Eli Lilly and company (U.S),
Bristol-Myers Squibb Company (U.S), F. Hoffmann-La Roche Ltd (Switzerland),
Novartis AG (Switzerland), Vertex Pharmaceuticals Incorporated (U.S), Sanofi
(France), AstraZeneca (U.K) are some of the prominent players at the forefront of
competition in the Global Rheumatoid Arthritis Market and are profiled in MRFR
Analysis.
Characterized by the presence of several well-established
and small players, the global market of rheumatoid arthritis appears to be
highly competitive and fragmented. With well-established market in the North
America region major companies like Pfizer Inc., Eli Lilly and Company,
Bristol-Myers Squibb Company, Vertex Pharmaceuticals Incorporated, and various
others have their home in the region and generate maximum market share. These
companies have expanded their operating unit in various other emerging regions
as well. Moreover the other small and medium scale players are generating
revenue from local market.
The market for rheumatoid arthritis is highly competitive
with companies focusing on the development of oral drug and treatment. U.S
based pharmaceutical company Pfizer is one of the leaders in the market. The
company in February 2016, announced the approval of its product XELJANZ XR (tofacitinib citrate) by the U.S.
Food and Drug Administration (FDA). The 11mg drug product has been approved for
daily once treatment of medium to severe rheumatoid arthritis. XELJANZ has been
approved in more than 45 countries across the globe for the treatment of
moderate to severe RA. The company has been involved in this market for more
than 60 years and being the leader in the market continues for the development
of the market.
Global Rheumatoid Arthritis Market - Regional Analysis
The global market is segmented into the various regions
including Americas, Europe, Asia Pacific, and the Middle East & Africa. The
Americas accounts for the largest market share of about more than ~38 market
share due to increasing patient pool visiting professionals due to rheumatoid
arthritis and favourable governmental conditions for research and development.
According to the study conducted by the Centers for Disease Control and
Prevention in March 2017 it was estimated that about 54.4 million U.S. adults
suffer from arthritis that is approximately about 25% of its population.
Arthritis is the key cause of disability, and causing pain, aching, stiffness,
and swelling of the joints. The most common type of arthritis is rheumatoid
arthritis & osteoarthritis. According to the same study it is expected that
by 2040, 78 million i.e. 26% of the U.S. adults of age 18 years or older are
anticipated to have doctor-diagnosed arthritis.
Europe is the second largest market of rheumatoid. U.K. the
fastest growing market rheumatoid arthritis in the Europe. According to the
National Rheumatoid Arthritis Society (NRAS) it is estimated that approximately
690,000 people suffer from rheumatoid arthritis across the UK. Furthermore
government taking initiates for the awareness of rheumatoid arthritis is
influencing the growth of the market.
Asia Pacific expected to be the fastest growing region. The
Asia Pacific region accounting for more 60% of the world's population has
provided a great opportunity for researchers to study the epidemiology,
pathogenesis and influencing various manufacturers for the expansion of their
unit in this region. There has been huge development for the treatment of
rheumatoid arthritis since the formation of the Asia Pacific League of
Associations for Rheumatology (APLAR) in 1963. Due to various developments in
the region there is potential growth in the region.
The Middle East & Africa holds the least share in the
rheumatoid arthritis market due to lack of awareness, less emphasis on research
and development activities, and poor medical facilities.
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