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Global antirheumatics market is expected to grow in near future as aging and growing population, rising income levels, and emerging medical conditions and emergence of new diseases help increase the demand for various arthritis treatments.
As per NAVADHI Market Research, global antirheumatics pharmaceutical market will we worth USD 56.88 billion by 2023. The growth in this market is predicted on the basis of various factors like market drivers, current and upcoming trends, current growth pattern, and market challenges.
Antirheumatics had the second largest revenue share in Global pharmaceuticals market in FY 2018, and it is expected to retain it’s position even in 2023.
As per industry sources, about 1.3 million people suffer from rheumatoid arthritis (RA) in United States, 2.9 million in European Union and 1.4 million in Japan and most of the patients are women. With the increasing lifespans due to improved healthcare facilities more and more people are prone to rheumatoid arthritis.
This growth in antirheumatics market is fueled by the growing and ageing population in key markets. As per World Population Prospects by United Nations, the worldwide population is likely to cross 9.3 billion by 2050 and around 21% of this population is expected to be aged 60 and above. Apart from ageing and rising population the improvements in purchasing power and access to quality healthcare and pharmaceuticals to poor and middle-class families worldwide also is driving the growth of global antirheumatics industry. Another aspect which is leading this growth is rising focus of pharmaceuticals companies to tap the rare and specialty diseases market. Innovations in advanced biologics, nucleic acid therapeutics and cell therapies has attracted investments in the industry which is fueling this growth.
On the other hand, adoption of cost control policies along with tightening of rules by governments in key markets are expected to impact the growth prospect of the global antirheumatics industry. Antirheumatics companies are forced to reduce their research and development (R&D) spending due to slowdown of growth in last few years which is also expected to hamper growth of the global antirheumatics market as new drugs revenue form large part of pharma firm’s revenue due to exclusivity of the drug. Competition from generic manufacturers is also a concern for major brands. For example – Cipla in 2013 launched the biosimilar of etanercept under brand name Etacept for the treatment of rheumatic disorders which was cheaper alternative of Amgen and Pfizer's hugely successful Enbrel brand.
On 3rd January 2019, Bristol-Myers Squibb Company which was ranked 7th based on their FY 2018 antirheumatics revenue announced their plan to acquire Celgene Corporation which was ranked 10th in the world for antirheumatics revenue. The acquisition is expected to cost around USD 90 billion to Bristol-Myers Squibb Company. Post-acquisition Bristol-Myers Squibb Company is expected to give tough competition to Pfizer for 3rd spot in global antirheumatics revenue.
Spanning over 267 pages and 180 exhibits, “Global Antirheumatics Pharmaceutical Market Forecast 2023” report provides in-depth analysis for the global antirheumatics pharmaceuticals market for the year FY2018 to FY2023, including market structure, market trends, market constraints and industry drivers.
This report includes detailed company profiles including their position in Global pharmaceuticals market value chain, financial performance analysis, product wise business strategy, competitive landscape and SWOT analysis for 10 key players in Global antirheumatics market namely: AbbVie Inc., Amgen Inc., Pfizer Inc., Roche Holding AG, Novartis International AG, Johnson & Johnson, Bristol-Myers Squibb, Merck & Co., Inc., UCB S.A. and Eli Lilly and Company
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