Arthritis Therapeutics Market: Numerous Product and Novel Drug Launches Leading to New Heights
The arthritis therapeutics market, characterized by healthy growth, is witnessing numerous promising pipeline projects and new product launches in parallel to increasing awareness campaigns run by public and private organizations. The patent expiration of blockbuster drugs is putting more pressure on manufacturers to develop effective versions of these drugs, which is projected to pave the way for the advancements of biosimilar products.
According to the Centers for Disease Control and Prevention (CDC) data published in 2018, ~54 Mn adults in the U.S. have been diagnosed with arthritis, and the number will grow to ~78 Mn by 2040. In this fast-paced era, individuals can’t afford to reduce their range of motion, which pertinently entails that those residing in developed countries are massively partaking in the diagnosis and treatment of arthritis as compared to those in developing countries. In the future, as the success of health awareness campaigns increases in developing countries, manufacturers in the arthritis therapeutics market will scramble towards these countries to leverage the first mover’s advantage.
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Perpetual Increase in Drug Prices to Impact Health of Arthritis Therapeutics Market
Despite the stronghold of disease-modifying antirheumatic drugs (DMARDs) in the arthritis therapeutics market, next gen antibody therapeutics are found to gain ground in recent times, on account of their higher efficiency. However, the efficiency of these drugs comes at a price, indeed a high one, ranging from US$ 1,000 to US$ 3,000 per month, which could hold back the sales potential of these drugs.
The price of Humira - a default drug for the treatment of arthritis - saw a steep increase in its price by 68.7% over the last five years, which equals to US$ 3,700 for a month-long supply. Also, the wholesale cost of the drug Enbrel has risen by 80.3% in the same time period, as found by Alliance of Community Health Plans. What’s more of an adoption concern for patients is the lack of discounts and deals, and the retail price further rises when they are distributed to retailers and pharmacies. Given the recommendation for a long-term course of arthritis treatment, high cost can affect the monthly budgets of patients, which could negatively impact sales in the arthritis therapeutics market space.
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Parenteral Route to Grow as Preferable Drug-consumption Mode
As per the report, in 2019, the parenteral route of drug administration is projected to be used for ~83% cases for arthritis treatment, while in the remaining ~17% cases, the oral and topical route will be preferred. To put this data into perspective, parenteral administration possesses better control over the dose and frequency, thereby ensuring an improved treatment outcome as compared to oral therapeutics. These routes of drug administration, in turn, are also found to offer better bioavailability and metabolism avoidance. On the contrary, patients are liable to maintain a course of oral drugs on their own, and in cases where they miss out on popping a pill, recovery can take a longer time.
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