Rheumatology Therapeutics Market - Future Trends and Forecast upto 2019
Rheumatology Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
With increasing joint and connective tissue problems caused by hectic lifestyles, non-nutritious food habits, and lack of physical workouts, the demand for rheumatology is on an increase on a global scale. Rheumatology is concerned with the therapy of rheumatic diseases and problems involving joints, soft tissues, autoimmune diseases, heritable connective tissue disorders, and vasculitis. Some of the major rheumatic conditions are neck pain, back pain, osteoarthritis, and bursitis.
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From 2005 to 2011, the rheumatology therapeutics market has grown at an encouraging rate, but during the period from 2012 to 2018, it is expected to grow at a slow pace. Some of the key drivers of the rheumatology therapeutics market are increasing population with joint problems, the improving technology in the medical field, increased research and development expenditure on healthcare, and the growing willingness of people to stay fit.
The market can be segmented on the basis of drugs used in rheumatology therapeutics into Enbrel (etanercept), Humira (adalimumab) and Remicade (infliximab) Enbrel (etanercept). Humira (adalimumab) and Remicade (infliximab) are the major shareholders of the drugs used in rheumatology therapeutics, out of which Enbrel and Humira have the majority of the market share in the U.S. while Remicade holds its roots in the European Union. Pfizer’s Celebrex, a major drug used for the treatment of osteoarthritis, saw high sales during 2010-11 and is expected to be demanded more during the period from 2012 to 2016.
The market of rheumatology therapeutics suffers restraints due to the entry of biosimilars despite healthy sales and the positive impact of the expanding geriatric population. The entry of biosimilars will slow the growth of the rheumatology therapeutics market. During the period from 2012 to 2018, the annual growth rate of the rheumatology therapeutics market is expected to fall. The opportunities that the market has are a growing aging population which leads to an increase in the number of joint problems, a rise in the disposable income of individuals, and increased concerns regarding health.
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Nov 21, 2016