Polymyalgia rheumatica (PMR) is a disorder characterized by muscle pain and stiffness, usually around the shoulder and hip areas. PMR drugs offer targeted therapies to reduce pain and inflammation. Corticosteroids such as prednisone are commonly prescribed as they suppress immune systems and reduce discomfort. Biologics like humanized monoclonal anti-IL6 receptor antibody drugs like tocilizumab are increasingly being used to treat PMR as well.
The Polymyalgia Rheumatica Drugs Market is estimated to be valued at US$ 266 Mn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Polymyalgia Rheumatica Drugs are Sparrow Pharmaceuticals, Novartis Pharmaceuticals, Roche Chugai, Chugai Pharmaceutical, Genentech Inc.
Growing geriatric population is driving demand as PMR is more prevalent in older adults. Technological advancements are helping develop targeted biologic drugs with lesser side effects compared to traditional corticosteroids.
Market Trends
Increasing preference for biologics over corticosteroids: Due to lesser side effect profile, biologics like tocilizumab are becoming first line choices for PMR treatment. This trend will boost the biologics segment.
Rising R&D into pipeline drugs: Several companies are conducting clinical trials on new molecular entities for PMR. This will expand treatment options if approved.
Market Opportunities
Emerging markets in Asia Pacific: With developing healthcare infrastructure and raising healthcare spends, China, India offer high growth potential for PMR drugs.
Combination therapies: Combining biologics with corticosteroids can enhance efficacy while reducing steroid doses. This presents an opportunity area.
Impact Of COVID-19 On Polymyalgia Rheumatica Drugs Market Growth
The outbreak of COVID-19 pandemic has significantly impacted the growth of polymyalgia rheumatica drugs market globally. During the pandemic, the focus of healthcare professionals and resources shifted majorly towards managing COVID-19 patients. This led to postponement of various non-critical medical procedures and outpatient department visits. The postponement and cancellation of routine doctor consultations and elective surgeries resulted in reduced diagnosis and treatment rates of polymyalgia rheumatica. Moreover, lockdowns and social distancing measures imposed by various governments restricted the movement of people as well as disrupted the supply chain of drugs manufacturing. This caused shortage of essential drugs used for treatment of polymyalgia rheumatica in different regions. However, with eased lockdowns and restrictions in 2021, the market is recovering slowly as diagnosis and treatments have resumed under strict safety guidelines. The key manufacturers are focusing on developing new drugs and treatment options to cater to the growing needs. They are also working on strengthening the supply chain to avoid future disruptions.
European Region Dominates The Polymyalgia Rheumatica Drugs Market
The European region currently dominates the Polymyalgia Rheumatica Drugs Market in terms of value. This is majorly attributed to high prevalence of polymyalgia rheumatica in the region coupled with advanced healthcare infrastructure and high healthcare spending by governments as well as patients. Within Europe, countries such as Germany, United Kingdom, Italy, and France collectively account for over 50% of the regional market revenue due to their strong economies and large patient pool affected by the disease. The rising geriatric population which is highly susceptible to polymyalgia rheumatica further supports the market growth in the region. Moreover, active government support for research and manufacturing of innovative treatment options also contributes to Europe's leading position in the global market.
Asia Pacific Emerges As The Fastest Growing Region In The Global Market
The polymyalgia rheumatica drugs market in the Asia Pacific region is estimated to witness the fastest growth during the forecast period. This can be attributed to increasing healthcare expenditure, improving access to diagnosis and treatment, rapidly growing geriatric population, and rising incidence of polymyalgia rheumatica in Asia Pacific countries. Additionally, strategic partnerships between international manufacturers and local players are helping in technology transfer and increasing availability of advanced drugs. Countries like China, India, Japan and South Korea are expected to be the major revenue generators for the APAC market owing to their huge patient bases and emerging economies. The APAC polymyalgia rheumatica drugs market is projected to expand at a CAGR of over 15% until 2031.
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What Are The Key Data Covered In This Polymyalgia Rheumatica Drugs Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Polymyalgia Rheumatica Drugs Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Polymyalgia Rheumatica Drugs Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Polymyalgia Rheumatica Drugs Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Polymyalgia Rheumatica Drugs Market vendors
FAQ’s
Q.1 What are the main factors influencing the Polymyalgia Rheumatica Drugs Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Polymyalgia Rheumatica Drugs Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Polymyalgia Rheumatica Drugs Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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