The global Disease-Modifying Antirheumatic Drug (DMARD) Market is estimated to be valued at US$ 21.42 Bn or Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2028 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Disease-modifying antirheumatic drugs (DMARDs) are medications that help reduce symptoms, slow disease progression, and prevent joint/tissue damage in patients suffering from rheumatoid arthritis and other types of arthritis. DMARDs work by suppressing the immune system and reducing inflammation.
Market key trends:
One of the major trends in the DMARD market is the shift from conventional DMARDs to biologic DMARDs. Biologic DMARDs have gained popularity due to their ability to target specific molecules involved in inflammation, thus providing better efficacy and safety. Furthermore, the availability of biosimilar biologic DMARDs has increased market access and enabled more patients to avail advanced treatment options. Growing prevalence of rheumatoid arthritis and other arthritic conditions worldwide is also fueling the demand for DMARDs.
Market key trends:
One of the key trends in the DMARD market is the rising adoption of biosimilars. Biosimilars are similar to original biologics in terms of efficacy, safety and quality. They offer cost savings compared to biologics and expanding access to biologic therapies. Many biosimilars of blockbuster biologics used for arthritis like Humira, Remicade and Enbrel are expected to lose patent protection in the coming years. This is anticipated to significantly drive the adoption of biosimilars and fuel the growth of the DMARD market during the forecast period.
SWOT Analysis
Strength: Growing prevalence of rheumatoid arthritis and other autoimmune disorders is driving the demand for DMARD drugs.
Weakness: High development and manufacturing costs of biologics limit their usage.
Opportunity: Patent expiry of blockbuster biologics and entry of biosimilars offers new opportunities for growth.
Threats: Risk of severe side effects associated with long term usage of DMARDs and strict regulatory guidelines for approval.
Key Takeaways
The global Disease-Modifying Antirheumatic Drug (DMARD) Market is expected to witness high growth, exhibiting CAGR of 3.6% over the forecast period, due to increasing geriatric population suffering from arthritis.
Regional analysis: North America dominates the global DMARD market currently due to presence of well-established healthcare infrastructure and higher adoption of costly biologic drugs. However, Asia Pacific is anticipated to witness highest growth during the forecast period driven by availability of affordable biosimilars, increasing healthcare spending and rising cases of arthritis in China and India.
Key players operating in the Disease-Modifying Antirheumatic Drug (DMARD) market are Sanofi., Pfizer, F. Hoffman-La Roche AG, Johnson & Johnson, AbbVie Inc., Eli Lilly & Company, Amgen Inc., Swedish Orphan Biovitrum AB, Bristol-Myers Squibb Company, UCB S.A., Gilead Sciences, Inc., and Cumberland Pharmaceuticals Inc