The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global market for biologic and biosimilar rheumatoid arthritis (RA) drugs is poised for significant growth, with projections indicating a rise from $12.08 billion in 2022 to $12.65 billion in 2023, marking a compound annual growth rate (CAGR) of 4.8%. This trajectory is anticipated to persist, reaching $15.19 billion by 2027 at a CAGR of 4.7%. In this blog, we explore the factors fueling this growth and strategies for businesses to capitalize on these opportunities.

Driving Forces:

The surge in the elderly population, aged 60 and above, coupled with a rising incidence of rheumatoid arthritis, propels the market forward. As the immune system weakens with age, the likelihood of developing rheumatoid arthritis increases. Biologics and biosimilar RA drugs emerge as pivotal solutions, especially when compared to conventional treatments. With approximately 1 billion people aged 60 and above globally in 2020, this demographic is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050. According to the Centers for Disease Control and Prevention, arthritis cases in the USA are projected to soar to 78.4 million by 2040, with 34.6 million individuals facing arthritis-related activity limitations. Consequently, the escalating geriatric population and the surge in RA cases are substantial driving forces behind the burgeoning biologics and biosimilars RA drugs market.

View More On The Biologic and Biosimilar RA Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/biologic-and-biosimilar-ra-drugs-global-market-report

Major Players:
Key industry players contributing to the biologic and biosimilar RA drugs market’s growth include Samsung BioLogics Co. Ltd., Amgen Inc., Novo Nordisk A/S, AbbVie Inc., and others. Their influence in the market underscores the competitive landscape and the strategic importance of innovation.

Innovation as a Catalyst:
A prominent trend in the biologics and biosimilars RA drugs market is the introduction of innovative products. Major companies are leveraging product innovations to maintain their market presence. Notably, in January 2020, Bio-Thera Solutions launched QLETLI, the first adalimumab biosimilar approved by the China National Medical Products Administration. This breakthrough product holds promise for the treatment of rheumatoid arthritis, ankylosing spondylitis, and plaque psoriasis.

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Regional Dynamics:
North America dominated the biologic & biosimilar RA drugs market in 2022, while Asia-Pacific is poised to be the fastest-growing region during the forecast period. The comprehensive market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation:
The global biologic & biosimilar RA drugs market is meticulously segmented across various parameters, including source, disease, manufacturing, mode of purchase, and distribution channel.

• By Source: Microbial, Mammalian, Other Sources
• By Disease: Oncology, Immunological Disorders, Cardiovascular Disorders, Hematological Disorders, Other Diseases
• By Manufacturing: Outsourced, In-House
• By Mode Of Purchase: Prescription Drugs, Over-The-Counter (OTC) Drugs
• By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

The Biologic and Biosimilar RA Drugs Global Market Report 2023  provides a comprehensive overview on the biologic and biosimilar RA drugs market size, biologic and biosimilar RA drugs market trends and biologic & biosimilar RA drugs market drivers, opportunities, strategies, and biologic & biosimilar RA drugs market companies analysis. The countries covered in the biologic and biosimilar RA drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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