The European antirheumatic drugs market was valued at US$8,038.148 million in 2019. The antirheumatic drugs market in the European region is expected to grow substantially over the course of the next five years. The major factors that are driving the market growth throughout the region include the moderate incidence of numerous rheumatic diseases in various countries of the region. Furthermore, the presence of the state-of-art pharmaceutical industry in major countries of the European region is also anticipated to be one of the key factors driving market growth throughout the forecast period. The booming investments in the pharmaceutical R&D in the region is further widening up the opportunities for the market to grow in the coming years. For instance, according to the reports from the European Federation of Pharmaceutical Industries and Association, R&D expenditure in the pharma industry reached €36,500 million by 2018 from €27,920 million in 2010. The pharmaceutical sector is considered one of the most important assets of the European economy. However, the intense outbreak of the deadly coronavirus disease throughout the world has resulted in a shifting focus of the major companies of the region towards the R&D of medicines and drugs to meet the response of the disease is projected to moderately impact the market during the short run.
Furthermore, the market is also poised to grow on account of the increase in the approval of drugs by the authorities for the treatment of rheumatoid arthritis along with the participation of key players in the form of product launches that further shows the potential for the market to grow in Europe. For example, in December 2019, AbbVie announced that it has the European Commission has approved RINVOQ™ (upadacitinib) for the treatment of moderate to severe active rheumatoid arthritis among the adults. Similarly in February 2017, Eli Lilly and Company and Incyte Corporation were granted the authorization for baricitinib — as 2-mg and 4-mg once-daily tablets for the treatment of severe to moderate rheumatoid arthritis specifically for the patients who are intolerant to disease-modifying anti rheumatic drugs.
Europe antirheumatic drugs market has been segmented on the basis of the type of disease, type of molecule, and sales channel. On the basis of the type of disease, the market has been classified on the basis of osteoarthritis, rheumatoid arthritis, gout, lupus, and others.By the type of molecule, the market has been segmented on the basis of pharmaceuticals and biopharmaceuticals. By the sales channel, the segmentation has been done on the basis of prescription and over-the-counter (OTC). On the basis of the country, the segmentation has been done on the basis of Germany, France, UK, Spain, and Others.