Zion Market Research has published a new report titled “Rheumatology Therapeutics Market by Disease Type (Rheumatoid Arthritis, Osteoarthritis, Lupus, Gout, Ankylosing spondylitis and other), Drug Type (NSAIDs, Analgesics, DMARDs, Corticosteroids and Other), Distribution Channel (Retail Pharmacy, Online Pharmacy, Hospitals)”. According to the report, the global rheumatology therapeutics market was valued at around USD 44.18 billion in 2017 and is expected to reach around USD 50.9 billion by 2022, growing at a CAGR of 2.9 % between 2016 and 2022.Musculoskeletal conditions are a major burden on the individual, society and the healthcare service providers. These conditions result in joint inflammation, pain, swelling, and stiffness. Rheumatic disease is one of the leading causes of morbidity in around the world. People of all ages, genders, and races can have arthritis, and it is the leading cause of disability in the United States. More than 50 million adults and almost 300,000 children have arthritis or some other type of rheumatic disease. Rheumatic diseases are generally common among women and occur more frequently as people get older.
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The growing burden of rheumatic diseases around the world is fostering the growth of rheumatology therapeutics market. A wide number of biosimilars and drugs under pipeline are fostering the growth of the market. However, high capital investments in drug development, stringent rules and regulations are slowing the growth of the market. Technologically enhanced products such as biologics and biosimilars are expected to present lucrative business opportunities in future.
The global rheumatology therapeutics market was dominated by North America and it held a maximum share of total revenue generated in 2016. The growth in this region is attributed to the increased geriatric population and soaring capital investments in the pharma sector. Europe is another leading regional market followed by North America. Growing incidences of rheumatoid diseases and advanced healthcare infrastructure is accounting the growth in this region. The Asia Pacific is the fastest growing market and is expected to show strong growth in the forecast period. The growth in this region is primarily driven due to increasing geriatric population in countries like China and India. Japan is also accounting for a key share in Asia Pacific market owing to the presence of elderly population. Latin America is an emerging market due to rising healthcare infrastructure in this region.
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Some of the key players operating in the rheumatology therapeutics market are AbbVie, Inc., Pfizer, Inc., Bristol-Myers Squibb Company, Merck & Co., Inc., Amgen, Inc., Janssen Biotech, Inc., Novartis AG, Genentech, Inc., Takeda Pharmaceutical and Sanofi.
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