Rheumatology Therapeutics Market: Increasing Elderly Population Across Globe to Chiefly Drive Growth of Market - Transparency Market Research

Albany,NY, November 14, 2017 (Newswire.com) - Some of the key players in the global market for rheumatology therapeutics include names such as Pfizer Inc., AbbVie Inc., Merck & Co. Inc., Sanofi, and Bristol-Myers Squibb Company, among others. All the companies in the market are constantly striving to gain an upper hand in terms of market share. One of the most common business strategy deployed by these established players in the global market is to form mergers or take over other companies. Also, the companies are heavily investing in the activities of research and development for better services and products.

Recently, Regeneron Pharmaceuticals Inc. and Sanofi announced that Kevzara™ (sarilumab), was approved by Health Canada. Kevzara™ is an interlukin-6 receptor antibody, used for treating adult patients with moderate to severe stages of active rheumatoid arthritis (RA) who have shown inconclusive response or intolerance to one or more non-biologic or biologic DMARDs i.e. Disease Modifying Anti Rheumatic Drugs. The approval of Kevzara™ was based on the information collected from nearly 2900 adults suffering from moderate to severe stages of active rheumatoid arthritis. Use of the Kevzara showed medically meaningful improvements in patients.

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The global market for rheumatology therapeutics stood at an overall valuation of US$41.88 bn in the year 2016. This market valuation is expected to grow and reach a figure worth US$52.96 bn over the course of the given forecast period of 2017 to 2025. This growth in the market is estimated to be achieved with the help of a stable CAGR of 2.7% over the same period of forecast.

What Factors Influence Growth of Global Rheumatology Therapeutics Market?

Rheumatology involves a multidisciplinary approach towards both the diagnosis and treatment of several rheumatic disorders which consists of clinical problems in soft tissue, joints, autoimmune diseases, vasculitis, and heritable connective tissue disorders among others. Rheumatic diseases is related with the inflammation that impacts the tendons, ligaments, bones, and at times body organs.

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The growth of the global market for rheumatology therapeutics is chiefly driven by the fast increasing population of old age across the globe. One more important factor for driving the development of the global market is fast and swift approval of newer drugs in the market for treating various types of rheumatic diseases.

In August 2017, the FDA gave permission to DUZALLO durg by AstaZeneca and Ironwood Pharmaceuticals Inc. This is the only therapy that takes advantage of two types of mechanisms in treating gout with one single pill.

Some other factors that are also positively impacting the overall growth of the global rheumatology therapeutics market is the growing awareness among people about the treatment of rheumatic diseases and cost-effective nature of the treatment. In addition to this, growing investment in the activities of research and development is also likely to strengthen the development of the global market for rheumatology therapeutics over the course of the given forecast period.

What Drives Development of Rheumatology Therapeutics Market in North America?

In terms of geographical regions, the global rheumatology therapeutics market can be segmented into key regions such as Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Of these, North America held a substantial share in the overall market owing to an accelerated rise of elderly population in the regions. Moreover, increasing uptake of biosimilar and biologic products in the area is also expected to drive the market in North America. The other regional markets in the globe such as Asia Pacific and Europe are also expected to show promising growth over the course of the given forecast period of 2017 to 2025.

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Source: Transparency Market Research