Between 2020 and 2027, the global market for arthritis treatments would grow by a factor of 1.5. Demand for treatments would be driven by patients in North America and Europe. To avoid deaths, they are searching for early detection.
One of the main factors driving the market for arthritis therapies is the rising prevalence of arthritis. Sales would also be boosted by more government and private investment for the creation of novel treatments.
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Factors That Could Hinder Growth
Rising Drug Prices May Limit Mass Adoption
Advanced antibody therapeutics have recently outperformed disease-modifying antirheumatic drugs (DMARDs) due to their higher effectiveness. However, the benefits of these drugs come with a significant cost, ranging from US$ 1,000 to US$ 3,000 per month. For example, the cost of Humira, a popular arthritis treatment, doubled from US$ 19,000 annually in 2012 to US$ 38,000 in 2018, according to SSR Health. Similarly, the price of Enbrel has risen by 80% since 2013, as reported by the Alliance of Community Health Plans. As these drugs are often prescribed long-term for arthritis management, continued price hikes may strain patients' budgets, potentially driving them toward alternative and complementary treatments.
Key Trends in the Arthritis Therapeutics Sector That Organizations Should Not Miss
In 2020, the parenteral route of administration was preferred by 83% of patients over oral and topical routes, due to its higher dosing accuracy, which leads to improved patient outcomes. Cost and recovery time have become crucial factors in choosing the administration route.
The growing availability of biosimilars at competitive prices via parenteral routes is expected to sustain the preference for injectable treatments throughout the forecast period.
On the other hand, oral arthritis medications are likely to see moderate preference, particularly for patients requiring long-term treatment. Additionally, the introduction of topical NSAIDs for joint pain management is expected to generate moderate growth in the topical administration segment during the forecast period.
Arthritis Therapeutics Market – Analysis of Key Segments
To provide detailed insights into the arthritis therapeutics market, the report categorizes the market based on type, drug class, route of administration, distribution channel, and region. This global research also highlights the incremental opportunities available in the arthritis therapeutics market during the forecast period.
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