China Antirheumatic Drugs Market was valued at US$19.081 billion in 2020. The market is projected to grow at a CAGR of 3.73% to attain a value of US$24.654 billion by 2027.
A growing number of patients suffering from arthritis in China is the major driver of the antirheumatic drugs market in the country. According to the data from the Osteoarthritis Research Society International, its 2018 report showed that more than 8 percent of the Chinese population is living with physician-diagnosed symptomatic knee OA, while the prevalence of any type of arthritis/rheumatism was around 32.3 percent. As such, changing lifestyles will continue this trend during the next five years, thus positively impacting the market growth of antirheumatic drugs in China. High R&D investments in developing generic drugs are also a driving factor for the market growth of antirheumatic drugs in China. The country is the leading exporter of generic drugs across the globe. With a burgeoning middle-class and rapidly-ageing society, China’s pharmaceutical industry will continue to grow during the next five years, thereby bolstering the antirheumatic drugs market growth.
The recent COVID-19 global pandemic outbreak has also impacted the growth of the antirheumatic drug market in China. Pharmaceutical companies are testing existing drugs that can effectively treat symptoms in patients infected with this novel coronavirus. In March 2020, China’s National Health Commission approved Roche’s Actemra to treat serious coronavirus patients with lung damage. The drug is usually for rheumatoid arthritis, first approved by the U.S. FDA in 2010. With a continuous rise in the number of COVID-19 patients, the demand for this drug is increasing, thus positively impacting the market growth.
China’s Antirheumatic Drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis, rheumatoid arthritis, gout, lupus, and others. By type of molecule, China's Antirheumatic Drugs market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).
Key Developments in the Market
COVID-19 Insights:
COVID-19 had a significant impact on China's antirheumatic drugs market. The growing prevalence of rheumatic patients led to the increased demand for drugs in the country. However, the mandated lockdown and social distancing measures resulted in the closure of many production facilities and low staffing, slowing down productivity. The travel restrictions also affected the imports and exports in China, creating a gap in the supply and demand chain. The reasons mentioned above slowed down the market's growth.
Segmentation