July 13, 2024

Disease-Modifying Antirheumatic Drug Market Spurs as Demand from Various End-Use Industries Grows

Disease-Modifying Antirheumatic Drug market

Healthcare to Boost the Growth of Disease-Modifying Antirheumatic Drug (DMARD) Market The global Disease-Modifying Antirheumatic Drug (DMARD) Market is estimated to be valued at US$ 21.42 Bn 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 a class of drugs that suppress the immune system and help reduce symptoms of certain rheumatologic diseases, primarily rheumatoid arthritis. The main types of DMARDs available are conventional synthetic DMARDs such as methotrexate, hydroxychloroquine, sulfasalazine, and leflunomide and biological DMARDs including tumor necrosis factor (TNF) inhibitors such as infliximab, adalimumab, golimumab, certolizumab pegol, and biosimilars. DMARDs play a vital role in managing diseases like rheumatoid arthritis by reducing inflammation, relieving joint pain and stiffness, preventing further joint damage, and improving mobility and quality of life.

Market key trends: The disease-modifying antirheumatic drug (DMARD) market is expected to exhibit significant growth due to increasing prevalence of rheumatoid arthritis worldwide. For instance, according to the Arthritis Foundation, around 54 million Americans suffer from doctor-diagnosed arthritis and by 2040, an estimated 78 million Americans are projected to have doctor-diagnosed arthritis. Growing geriatric population is another major driver as arthritis is more common in older adults. Furthermore, the availability of various innovative products with higher efficacy and novel methods of drug delivery through the pipeline is expected to present lucrative opportunities. However, high costs associated with biologics may restrain market growth to some extent. Ongoing research for developing oral formulations of biologics can further create new opportunities over the forecast period.
Porter’s Analysis

Threat of new entrants: The pharmaceutical industry requires extensive R&D and clinical trials to develop new DMARD drugs, which makes the entry barrier high for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate as DMARD drugs are prescribed by physicians. However, presence of generic alternatives provides some bargaining power.

Bargaining power of suppliers: Major players have strong bargaining power over suppliers of raw materials and packaging due to their large procurement volumes.

Threat of new substitutes: Threat of new substitutes is low as DMARDs target specific diseases, but biologics are emerging as alternatives.

Competitive rivalry: The DMARD market is highly competitive with major players investing heavily in R&D and targeted therapy developments.

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 prevalence of rheumatoid arthritis and other autoimmune diseases.

North America is expected to dominate the global DMARD market during the forecast period. This is attributed to growing geriatric population, rising healthcare expenditure, and presence of major players in the region. Europe is also among the lucrative markets for DMARDs due to increasing research support for rare diseases.

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. Major players are focusing on developing biosimilars and targeted therapies to strengthen their market position.