In rheumatoid arthritis, the nature of the disease is either symmetrical or bilateral. The knees and legs are the first areas affected by this condition. Extra-articular areas, including the mouth, eyes, lungs, and heart can be affected by this condition. As diagnostic and healthcare infrastructure improves in underdeveloped nations, more cases are expected to be diagnosed. The aging population and expanding public and medical understanding of arthritis and ways to prevent it are also projected to propel the global market forward. As per Business Research Insights, the market for drugs for rheumatoid arthritis is expected to grow at 8.87% CAGR during 2022-2027.
Post COVID-19 Outlook: Vigorous Demand for Treatment Procedures to Bolster Market Growth
The COVID-19 pandemic had a negative impact on numerous industries. The market growth is projected to speed up significantly due to increasing infections and surging demand for the rheumatoid arthritis monitoring application, which helps individuals connect with the doctor to receive details of treatment for autoimmune and inflammatory diseases. Market procedures are being adopted due to rising healthcare spending and an increase in the pace of infrastructure development. Medical equipment, machines, and professionals are in high demand as many suffer from arthritis and other chronic diseases.
Business Research Insights highlights the top 8 companies in the drugs for rheumatoid arthritis industry.
1. Mitsubishi Tanabe Pharma Corp (Osaka, Japan)
Mitsubishi Tanabe Pharma Corp is a Japanese company that was founded in 1678. The company diligently develops techniques that assist various healthcare providers in offering and finding solutions that are safe and offering effective treatments for devastating illness.
2. Hoffman-La Roche AG (Basel, Switzerland)
Hoffman-La Roche, also known as Roche, is a multinational healthcare company headquartered in Switzerland and founded in 1896. The company is well known for developing drugs for rheumatoid arthritis and accurate diagnosis by continuously emphasizing discoveries to improve patients' lives and advancing better health for people at an effective cost.
3. Johnson & Johnson (New Jersey, U.S.)
Johnson & Johnson is an American firm that was founded in 1886. The company expanded its digital technology to help individuals track their skin's health. It uses artificial intelligence and 3D printing artificial joint technology to discover life-saving drugs in pharmaceuticals.
4. UCB Biosciences Inc (North Carolina, U.S.)
UCB Biosciences is headquartered in the U.S. and was founded in 1928. To become the preferred biopharmaceutical leader by patients, UCB is committing to providing life-improving medicines and solutions, such as drugs for rheumatoid arthritis, at a reasonable cost. The company has collaborated with a project management institute to apply agile practices in drug development to provide better healthcare facilities.
5. Biogen Inc (Massachusetts, U.S.)
Biogen Inc is an American biotechnology company that was founded in 1978. In Biogen, drug developers utilize an ever-expanding set of methods to tackle every aspect of a disease. Using cutting-edge technology and medicine, Biogen develops new drugs for rheumatoid arthritis for patients with significant neurological conditions worldwide.
6. Bristol-Myers Squibb Co (Gothenburg, Switzerland)
Bristol-Myers Squibb Co is headquartered in New York, U.S. and was founded in 1887. To prevail over serious diseases, the R&D team develops and delivers innovative medicines in oncology, immunoscience, and cardiovascular to address the disease at the right time.
7. Amgen Inc (California, U.S.)
Amgen Inc is headquartered in California, U.S. and was founded in 1980. The company offers a wide approach and tools, such as advanced human genetics, to transform new ideas and discoveries into medicines for patients, improve health outcomes, and recover individual lives.
8. Merck & Co (New Jersey, U.S.)
Merck & Co is headquartered in New Jersey, U.S. and was founded in 1981. The company joined hands with the global scientific community and offers high-quality solutions for manufacturing chemical and biological drugs to better understand biological function and research.
Integration of R&D and Digital Strategies Fuel the Adoption of Drugs for Rheumatoid Arthritis to Facilitate Market Development
Attributed to the advancement of digital technology, manufacturers may now sell their products online and expand their global footprints. Also, digital consultation forums in hospitals and online retailers increase efficiency while decreasing costs. As their products are safe and have no side effects, they boost their sales drastically. To improve product quality, prominent companies invested heavily in R&D to meet consumers’ requirements and improve operational efficiency.