Arthritic Therapeutic Market to Reach $ 136.1 billion, Globally, by 2032 at 5.5% CAGR: Allied Market Research

Technological advancements, rise in incidence of arthritic disorders & conditions, and surge in aging population drive the growth of the global arthritic therapeutic market.

PORTLAND, Ore., March 11, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Arthritic Therapeutic Market by Product Type (Non-steroidal Anti-inflammatory Drugs (NSAIDs), Disease Modified Anti-rheumatoid Drugs (DMARDs), Biologics, and Others) and Application (Rheumatoid Arthritis, Osteoarthritis, Psoriatic Arthritis, Ankylosing Spondylitis, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global arthritis therapeutics market was valued at $79.5 billion in 2022 and is estimated to reach $136.1 billion by 2032, exhibiting a CAGR of 5.5% from 2023 to 2032.

Allied Market Research Logo

Request Sample of the Report on Arthritic Therapeutic Market Forecast – https://www.alliedmarketresearch.com/request-sample/2571 

Prime determinants of growth

Factors such as technological advancements, rise in incidence of arthritic disorders & conditions, and surge in aging population drive the growth of the global arthritic therapeutic market. However, the growing competition of generic manufacturers are anticipated to hinder the market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the arthritic therapeutic market during the forecast period.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size In 2022

$79.5 Billion

Market Size In 2032

$136.1 Billion

CAGR

5.50 %

No. Of Pages In Report

250

Segments Covered

Product Type, Application and Region

Drivers

Technological Advancements


Rise In Incidence of Arthritic Disorders And Conditions


Surge In Aging Population

Opportunities

Growth Opportunity in Emerging Markets

Restraints

Generic Competition

 

Recession Scenario

  • During a recession, the impact on the healthcare industry, including arthritic therapeutic, is significant.
  • The economic downturns hinder technology investment. However, the growing awareness regarding the use of early diagnosis and treatment and rise in arthritic diseases can drive interest in arthritic therapeutic market growth.

Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/2571 

The non-steroidal Anti-inflammatory Drugs (NSAIDs) segment to maintain its lead position during the forecast period.

By product type, the non-steroidal Anti-inflammatory Drugs (NSAIDs) segment accounted for the largest share in 2022, accounting for almost two-fifths of the global arthritic therapeutic market revenue. This is primarily attributed to their widespread use for pain relief and anti-inflammatory effects, making them a preferred choice, driving substantial revenue in the pharmaceutical market.

However, the biologics segment is projected to register the highest CAGR of 7.0% during the forecast period owing to the targeted mechanism of action, which specifically addresses inflammatory pathways, resulting in effective symptom management and disease modification. Biologics’ precision in targeting key molecules involved in arthritis pathogenesis, coupled with ongoing advancements in biotechnology and personalized medicine, contribute to their sustained prominence and anticipated growth in the market.

The rheumatoid arthritis segment to maintain its lead position during the forecast period.

By application, the rheumatoid arthritis segment accounted for the largest share in 2022, accounting for more than three-fifths of the global arthritic therapeutic market revenue. This is attributed to the rise in prevalence of rheumatoid arthritis globally, prompting increased demand for targeted and innovative therapies. Ongoing R&D efforts focusing on novel treatments, including biologics and disease-modifying drugs, specifically tailored for rheumatoid arthritis, contribute to the sustained prominence of this segment in the arthritis therapeutics market.

However, the osteoarthritis segment is projected to register a highest CAGR of 8.5% during the forecast period. This is driven by several factors, including the aging global population, increased prevalence of obesity, and a growing awareness of osteoarthritis. In addition, advancements in understanding the molecular mechanisms of osteoarthritis and the development of targeted interventions, along with a focus on improving pain management strategies, contribute to the anticipated accelerated growth in the osteoarthritis segment within the arthritis therapeutics market.

North America maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global arthritic therapeutic market revenue owing to factors such as well-established healthcare infrastructure, a high prevalence of arthritis, increasing awareness, and early adoption of advanced therapeutics in the region. Moreover, ongoing research and development activities, coupled with a strong emphasis on biotechnology and pharmaceutical innovations, contribute to North America’s continued leadership in the arthritis therapeutics market.

For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/2571 

However, the Asia-Pacific segment is projected to register highest CAGR of 7.5% during the forecast period. This is attributed to improving healthcare infrastructure, advancements in medical research, and a surge in healthcare spending contribute to the expanding market in Asia-Pacific. In addition, surge in aging population, increase in prevalence of arthritis, and rise in awareness about arthritis management & treatment options in the region further propel the rapid growth in arthritis therapeutics across Asia-Pacific.

Leading Market Players

  • AbbVie Inc.
  • Pfizer Inc.
  • Amgen Inc.
  • Novartis AG
  • Jhonson & Jhonson
  • Viatris Inc.
  • Bausch Health (Storz Opthalmic Instrument)
  • LEO Pharma
  • Merck & Co. Inc.
  • Celltrion Inc.

The report provides a detailed analysis of these key players of the global arthritic therapeutic market. These players have adopted different strategy such product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact

David Correa

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Toll Free: +1-800-792-5285

Int’l: +1-503-894-6022

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1-855-550-5975

[email protected]

Web: https://www.alliedmarketresearch.com  

Follow Us on: LinkedIn

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/arthritic-therapeutic-market-to-reach–136-1-billion-globally-by-2032-at-5-5-cagr-allied-market-research-302085191.html

Featured image: ©

Disclaimer