Rheumatoid arthritis Market Overview
During old age, rheumatoid arthritis problem is common. And smokers are more prone to it. Contrary to popular belief, rheumatoid arthritis goes beyond joint pain. Sometimes, it can also damage various parts of the body system that include blood vessels, eyes, heart, lungs, and skin. Therefore, the rheumatoid arthritis market is growing.
Market Research Future (MRFR) has published a research report that predicts success for the global rheumatoid arthritis market with 4% CAGR (Compound Annual Growth Rate) between 2017 and 2022. Analyzing the market structure, this report evaluates the future growth potential and observes the strategies of the key players in this market. It also tracks the competitive developments such as joint ventures, mergers, and acquisitions, new product developments, new product developments (R & D) in the market. According to a study, the women are three times more prone to this disease than men. The key factors that can impact the market growth include a high number of individuals suffering from the autoimmune disease.
Key Players
The key players in the global rheumatoid arthritis market include AstraZeneca (UK), Bristol-Myers Squibb Company (USA), Eli Lilly and Company (USA), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer Inc (USA), Sanofi (France), and Vertex Pharmaceuticals Incorporated (USA).
Segmentation:
The global Rheumatoid Arthritis Market has been segmented on the basis of diagnosis, drug type, treatment, and lastly, region. Based on the diagnosis, the market has been segmented into the C-Reactive Protein (CRP) Test, cyclic citrullinated peptide (CCP), and erythrocyte sedimentation rate (ESR) test. By drug types, the market has been segmented into biologic agents, Disease-modifying anti-rheumatic drug type (DMARDs), Non-steroidal anti-inflammatory drug type (NSAID), and steroids. The treatment-based market segmentation covers joint fusion, synovectomy, and tendon repair. Joint fusion welds the bones to relieve joint pain. Via synovectomy, the synovial tissue surrounding a joint is removed. Tendon repair is surgery required for treating a torn or damaged tendon.
Regional Analysis:
The regional segmentation of the global Rheumatoid Arthritis Market segments the market into regional markets namely North America, Europe, Asia Pacific, and the Middle East & Africa. North America is the biggest market due to advanced medical facilities being available here, and it is expected to grow during the forecast period. The cream of this market comprises of the United States of America (USA) and Canada. Europe, the second largest market for rheumatoid arthritis is also expected to grow during the forecast period. After North America, Europe has maximum advanced medical facilities. Maximum revenue of this market comes from France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.
Asia Pacific market is expected to be the fastest growing market for rheumatoid arthritis during the forecast period due to medical facilities improving in this region with growing urbanization and steady technological advancement that is giving rise to medical tourism in Asia Pacific region. The biggest share in the Asia Pacific region is commanded by Australia, China, India, Japan, and South Korea, followed by the rest of Asia Pacific. MEA region is the smallest regional market. Due to lack of education, less infrastructure development, limited growth in the healthcare sector, and political instability, the market is low in this region. Maximum revenue for this market is generated by Egypt, Saudi Arabia, South Africa, and United Arab Emirates (UAE), followed by rest of the MEA region.
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