The United States antirheumatic drugs market was valued at US$115.485 billion in 2020. The market is projected to grow at a CAGR of 3.40% to attain a value of US$145.905 billion by 2027. As per the data from the World Bank Group, the population aged 65 and above has increased from 40,156,009 in 2010 to 51,717,496 by 2018. With the booming geriatric population in the U.S, the demand for antirheumatic drugs in the country is poised to grow during the forecast period. Moreover, the rising number of adults with arthritis is also driving the market growth of the antirheumatic drug market in the country. According to the U.S Department of Health and Human Services, almost half of the U.S adults who suffer from arthritis have persistent pain. Furthermore, it is projected that the number of adults with doctor-diagnosed arthritis will reach around 78 million by 2040.
The presence of major market players in the country also contributes to the market growth of antirheumatic drugs in the U.S. The U.S. FDA (Food and Drug Administration) has approved many antirheumatic drugs in recent years, particularly in 2017, which is also boosting the country’s market growth. For example, abaloparatide was approved in April 2017 for post-menopausal women with osteoporosis and a high risk of fracture. Sarilumab was approved in May 2017 to be used by patients with moderate to severe rheumatoid arthritis who have not responded well to one or more disease-modifying antirheumatic drugs (DMARDs). In August 2019, the FDA approved AbbVie’s RINVOQ®, 15 mg, once-daily oral JAK (Janus Kinase) inhibitor for the treatment of moderate to severe rheumatoid arthritis in adults with zero tolerance or inadequate response to methotrexate (MTX-IR).
COVID-19 SCENARIO
The pandemic of COVID-19 has an adverse impact on the market for antirheumatic drugs in the United States. According to the Lancet Rheumatology 2020, are at significant risk of developing severe symptoms and consequences. Many COVID-19 cases have been seen in worldwide countries such as India, U.S, U.K which has altered the healthcare sector's focus on COVID-19 patients. Non-COVID patients had less access to hospitals. As a result, there was a decline in rheumatic diagnoses, resulting in lower demand for antirheumatic drugs in the region. As a result, market growth has been slower than planned. With the loss of health insurance coverage, fewer hospital visits, and reduced diagnostic rates, the product is selling well.
KEY DEVELOPMENT
The United States 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, the United States market for Antirheumatic Drugs has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).
Segmentation