Global Rheumatoid Arthritis Drugs Market Expected To Hit US$ 70 Billion By 2030

Provided By PR Newswire

Last update: Dec 30, 2022

Palm Beach, Fla., Dec. 30, 2022 /PRNewswire/ -- According to the Centers for Disease Control and Prevention, arthritis affects approximately one in every four Americans, or 58.5 million people. The global rheumatoid arthritis drugs market is expected to benefit significantly from increased launches of innovative biologics and expanding generic medication penetration. The growth of global rheumatoid arthritis drugs market is also being driven by growing constant efforts for development of rheumatoid arthritis drugs and medications by government agencies. The government is also taking assistance of major market players for development and growth of global rheumatoid arthritis drugs market. In addition, government agencies are also investing in innovative and latest technologies for the development of rheumatoid arthritis drugs in the global market. As a result, all of these aforementioned factors are boosting the growth of global rheumatoid arthritis drugs market. A report from Precedence Research projected that the global rheumatoid arthritis drugs market, which was estimated at US$ 60.02 billion in 2021 is expected to hit US$ 70 billion by 2030 with a registered CAGR of 1.72% from 2022 to 2030. The report said: "One of the significant factors driving the growth of global rheumatoid arthritis drugs market is rising prevalence of rheumatoid arthritis… As a result, more rheumatoid arthritis drugs will be adopted, propelling the rheumatoid arthritis drugs market forward… Another factor driving the growth of global rheumatoid arthritis drugs market is growing patient awareness regarding rheumatoid arthritis disorders… there is a movement in the rheumatoid arthritis drugs market toward combination medicines that deliver better benefits for patients." Active biotechs in the markets today include: Silo Pharma, Inc. (NASDAQ: SILO), Baudax Bio, Inc. (NASDAQ: BXRX), Hoth Therapeutics, Inc. (NASDAQ: HOTH), Kala Pharmaceuticals, Inc. (NASDAQ: KALA), Nuwellis, Inc. (NASDAQ: NUWE).