Published: Oct, 2019
Transparency Market Research (TMR) has published a new report on the arthritis therapeutics market for the forecast period of 2019–2027. According to the report, the global arthritis therapeutics market was valued at ~US$ 43 Bn in 2018. It is projected to expand at a CAGR of ~6% during the forecast period.
Global Arthritis Therapeutics Market: Overview
Arthritis is an inflammatory condition affecting the joints, causing redness and stiffness, resulting in swelling and pain in the joints. There are more than 100 types of arthritis affecting 1% of the global population. The most common arthritis conditions are rheumatoid arthritis, osteoarthritis, and psoriatic arthritis. Osteoarthritis affects a majority of the geriatric population, resulting in severe joint pain and affecting their mobility.
The considerable growth of the global arthritis therapeutics market can be attributed to investments in research & development, strong product pipeline, and growing patient pool suffering from arthritis. Moreover, increase in the geriatric population is another factor fueling the growth of the global arthritis therapeutics market.
North America dominated the global arthritis therapeutics market in 2018, and the trend is anticipated to continue during the forecast period. This can be ascribed to awareness about arthritis, presence of key players, growing patient pool, favorable reimbursement policies, and availability of biosimilar and biologics arthritis drugs in the region. However, the high cost of arthritis treatment is likely to hamper the North America arthritis therapeutics market during the forecast period. For instance, the monthly cost of biologics ranges between US$ 1,300 and US$ 3,000 per patient for the treatment of arthritis.
Rise in Incidence of Rheumatoid Arthritis, Psoriatic Arthritis, and Osteoarthritis to Drive Arthritis Therapeutics Market
Rising incidence of arthritis diseases, globally, is likely to drive key players to develop novel therapeutics treatment for the disease. Strong research & development by key companies supported by huge investments is projected to drive the global arthritis therapeutics market. The annual incidence of rheumatoid arthritis, globally, is estimated to be around three cases per 10,000 population, and the prevalence rate is rising with the increasing geriatric population. Women are more prone to be affected by rheumatoid arthritis as compared to men. According to the World Health Organization (WHO) 2018 statistics, 9.6% of men and 18.0% of women over the age of 60 suffered from symptomatic osteoarthritis, worldwide. Approximately 80% of those with osteoarthritis have limitations in movement, and 25% are not able to perform their major daily activities. According to WHO, the global prevalence of psoriasis falls in the range of 0.09% to 11.4%. Among the total psoriatic population, 34.7% of patients are likely to develop psoriatic arthritis, which involves joint deformations and disability.
Increase in Geriatric Population to Fuel Demand for Continuous Innovation in Arthritis Drugs
The geriatric population is likely to suffer from chronic diseases such as arthritis, and this condition worsens with increasing age. Moreover, the geriatric population is increasing at a rapid pace as compared to the younger population. According to the United Nations data, the number of population 80 years and above is likely to reach 426 million by the year 2050, while it is expected to reach 143 million by the end of 2019. The population aged 50 years and above has higher incidence of rheumatic disease and mortality rates as compared to those witnessed in younger people. This is estimated to further drive the demand for clinical trials and research, which will require the development of arthritis drugs. These factors are expected to drive the global arthritis therapeutics market. Furthermore, according to the United Nations, the geriatric population aged above 60 years is expected to grow two-fold by 2050 and three-fold by 2100, an increase from 962 million in 2017 to 2.1 billion in 2050 and 3.1 billion by 2100.
Increase in Demand for Biologics and Approval of New Products to Drive Market
The usage of biologic drugs in dermatology has drastically changed the treatment procedure of arthritis. Leading biopharmaceutical companies have made significant investments in biologic product development, mergers & acquisitions, and strategic collaborations. The period of 2016 to 2018 is considered a remarkable period for biologics in arthritis treatment, as a large number of biologic drugs and biosimilars were approved and commercialized in the U.S. and Europe. For instance, in June 2018, the Olumiant 2 mg tablet, an Eli Lilly’s product, received approval for the treatment of adults with moderate to severe rheumatoid arthritis, with a proper inadequate response to one or more TNF antagonist therapies. In July 2019, the U.S. FDA approved Hadlima, a biosimilar of Humira developed by Samsung Bioepis Co. Ltd. In October 2018, Novartis received approval from the European Commission (EC) for cosentyx (secukinumab). Cosentyx is the first and only fully human treatment that specifically inhibits interleukin-17A (IL-17A) in case of psoriatic arthritis (PsA).
TNF Inhibitors to Lead Global Arthritis Therapeutics Market
In terms of drug class, the TNF inhibitors segment is likely to account for a major share of the global arthritis therapeutics market. TNF inhibitors are preferred over other drugs, and are used in the development of novel therapeutic products for arthritis treatment. The patent of the blockbuster drug Humira is expiring in 2023 in the U.S., making way for new biosimilar drugs. Thus, estimated availability and rise in adoption of biosimilar drugs in the U.S. are anticipated to boost the TNF inhibitors segment during the forecast period. The interleukin inhibitors segment is expected to grow at the highest CAGR during forecast period. Interleukin inhibitors are in the early growth phase of their product lifecycle, and have witnessed significant increase in demand since their launch. Eli Lily and Company’s interleukin inhibitor ‘Taltz’ received approval from the USFDA in December 2018, and by the European Union in January 2018, for the treatment of arthritis.
Retail Pharmacies to Dominate Arthritis Therapeutics Market
In terms of distribution channel, the global arthritis therapeutics market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment held the largest market share in 2018, and will continue its dominance during the forecast period. Increase in the number of retail pharmacies across the globe and easy availability of biologics drugs in retail pharmacies are likely to boost the segment growth across the globe. Expansion of retail chains, especially in developed countries, and tie-ups of hospitals with such retail chains for the provision of drugs are likely to drive the segment.
Global Arthritis Therapeutics Market: Prominent Regions
In terms of region, the global arthritis therapeutics market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global arthritis therapeutics market in 2018, followed by Europe. North America accounted for a major share of the global arthritis therapeutics market in 2018, due to a large patient pool suffering from arthritis diseases, such as rheumatoid arthritis, psoriatic arthritis, osteoarthritis, and other conditions. Favorable reimbursement policies, well-defined regulatory framework, launching of novel biologics drugs, and availability of biosimilars are likely to fuel market growth in the region. Moreover, the presence of key players in the region and a strong product pipeline for arthritis treatment are projected to drive the arthritis therapeutics market in the region.
The arthritis therapeutics market in Asia Pacific is projected to expand at a considerable CAGR from 2019 to 2027. This can be attributed to an increase in healthcare expenditure and diagnosis of arthritis-affected patient population in developing countries. Moreover, the rising geriatric population in countries such as Japan, India, and China is estimated to impact the development of arthritis drugs in these countries. Also, a large base of pharmaceutical companies in countries such as India, Japan, and China is driving the arthritis therapeutics market in the region.
Launch of Innovative Arthritis Products and Investments in Research & Development to Drive Market
The global arthritis therapeutics market is highly consolidated in terms of number of players. There are major players of arthritis therapeutics established in the market since several years, launching novel therapeutics drugs. Key players operating in the global arthritis therapeutics market include AbbVie Inc., Novartis AG, Eli Lilly and Company, Amgen, Inc., Merck & Co., Inc., Bristol-Myers Squibb Company, Pfizer, Inc, Janssen Global Services, LLC (Johnson & Johnson), F. Hoffmann-La Roche Ltd, and Sanofi. These players have adopted various strategies such as investments in ongoing clinical trials, launching of biosimilars, developing novel biologics drugs, and mergers & acquisitions to strengthen their distribution network and product portfolio. For instance, AbbVie Inc.’s flagship product – HUMIRA, generated a revenue of US$ 20 Bn in the year 2018, even after patent expiry of the product. This product has generated huge profits for the company with respect to trust and effective results. Moreover, in January 2019, Bristol-Myers Squibb Company acquired Celgene to further create an innovative biopharma company, for around US$ 74 Bn. This acquisition is likely to create a platform for developing novel therapeutics, and launching leading franchises to offer better healthcare products.
Global Arthritis Therapeutics Market: Segmentation
Arthritis Therapeutics Market by Type
- Rheumatoid Arthritis
- Psoriatic Arthritis
Arthritis Therapeutics Market by Drug Class
- TNF Inhibitors
- Interleukin Inhibitors
- Xanthine Oxidase Inhibitors
Arthritis Therapeutics Market by Route of Administration
Arthritis Therapeutics Market by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Arthritis Therapeutics Market by Region
- North America
- Italy & Spain
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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