The arthritic therapeutic global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Arthritic Therapeutic Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The arthritic therapeutic market size has grown strongly in recent years. It will grow from $64.19 billion in 2023 to $68.10 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increasing number of diagnosed patients, increasing awareness about the symptoms, increasing prevalence of obesity, improved diagnostic skills, and improved treatment outcomes.
The arthritic therapeutic market size is expected to see strong growth in the next few years. It will grow to $86.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to improving healthcare infrastructure, government initiatives, supportive regulatory frameworks, focus on personalized medicine, and shift towards patient-centric healthcare approaches. Major trends in the forecast period include focus on biosimilar, shifting paradigm towards biologics, enhanced availability of biosimilars, preference for parenteral route, and growth of online pharmacies.
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Scope Of Arthritic Therapeutic Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Arthritic Therapeutic Market Overview
Market Drivers –
The increasing incidence of arthritis is expected to propel the growth of the arthritic therapeutic market going forward. Arthritis refers to a group of more than 100 conditions characterized primarily by joint pain and inflammation. The incidence of arthritis is growing due to an aging population, increased obesity rates, and lifestyle factors that contribute to joint stress and inflammation. Arthritis treatments alleviate symptoms, reduce inflammation, and improve joint function, enhancing the overall quality of life for those affected. For instance, in June 2024, according to a report published by the Australian Institute of Health and Welfare, an Australia-based government organization, approximately 514,000 people (2.0% of the population) were living with rheumatoid arthritis in 2022. Rheumatoid arthritis made up 2.0% of the total disease burden and represented 16% of the total burden for all musculoskeletal conditions in 2023. Therefore, the increasing incidence of arthritis is driving the growth of the arthritic therapeutic market.
Market Trends –
Major companies operating in the arthritis therapeutic market are focusing on developing innovative solutions such as biosimilar monoclonal antibody-based therapies, to enhance treatment efficacy and reduce costs. Biosimilar monoclonal antibody-based therapies are treatments designed to closely replicate and mimic the effectiveness of original monoclonal antibodies, offering similar therapeutic benefits at a potentially lower cost. For instance, in May 2024, Bio-Thera Solutions Ltd., a China-based biopharmaceutical company, launched TOFIDENCE, an intravenous biosimilar monoclonal antibody formulation based on ACTEMRA. TOFIDENCE (tocilizumab-bavi) is developed to be a biosimilar to the reference drug ACTEMRA and is approved for treating moderately to severely active rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, and systemic juvenile idiopathic arthritis.
The arthritic therapeutic market covered in this report is segmented –
1) By Drug Class: Tumor Necrosis Factor (TNF) Inhibitors, Interleukin Inhibitors, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, Xanthine Oxidase Inhibitors, Other Drug Classes
2) By Route Of Administration: Oral, Parenteral, Topical
3) By Type: Psoriatic Arthritis, Rheumatoid Arthritis, Osteoarthritis, Gout, Other Types
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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Regional Insights –
North America was the largest region in the arthritic therapeutic market in 2023. The regions covered in the arthritic therapeutic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the arthritic therapeutic market are Pfizer Inc., Johnson & Johnson, Hoffmann-La Roche Ltd, Merck & Co Inc., AbbVie Inc., Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca Pharma AB, GlaxoSmithKline plc, Eli Lilly and Company, Amgen Inc., Gilead Sciences Inc., Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, Zimmer Biomet Holdings Inc., UCB Pharma S.A., Incyte Corporation, Celltrion Inc., Mallinckrodt Pharmaceuticals, Genentech Inc., Anika Therapeutics Inc., Medac GmbH< /b>
Table of Contents
1. Executive Summary
2. Arthritic Therapeutic Market Report Structure
3. Arthritic Therapeutic Market Trends And Strategies
4. Arthritic Therapeutic Market – Macro Economic Scenario
5. Arthritic Therapeutic Market Size And Growth
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32. Global Arthritic Therapeutic Market Competitive Benchmarking
33. Global Arthritic Therapeutic Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Arthritic Therapeutic Market
35. Arthritic Therapeutic Market Future Outlook and Potential Analysis
36. Appendix
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