Pune, May 28, 2020 (GLOBE NEWSWIRE) -- The global anti-inflammatory market size is expected to reach USD 191.42 billion by 2027; on account of increasing investments on the development of biologics for treating autoimmune inflammatory diseases. Anti-inflammatory drugs help to reduce inflammation in the body and treat health conditions such as arthritis, asthma, rheumatoid arthritis, sinusitis, and others. A recently published report by Fortune Business Insights offers a comprehensive overview of the market and its prime growth trajectories.
As per the report titled, “Anti-Inflammatory Drugs Market Size, Share & Industry Analysis, By Drug Class (Anti-inflammatory Biologics, Non-steroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids), By Application (Autoimmune Inflammatory Diseases (Rheumatoid Arthritis Psoriasis, and Others), Respiratory Diseases, and Others), By Route of Administration (Oral, Injection, Inhalation, and Topical), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027,” the value of the market was USD 93.88 billion in 2019 and is expected to rise at a CAGR of 9.3% between 2020 to 2027.
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What are the Objectives of the Report?
The report offers a comprehensive overview of the market and its growth parameters such as drivers, restraints, challenges, and upcoming opportunities. The report also offers interesting insights into the market, current trends, and significant industry developments. It also throws light on key players functioning in the market and the key strategies adopted by them to compete for the top position. The report further discusses the segmentation of the market based on factors such as drug-class, application, route of administration, distribution channel, and geography, and lists the names of the leading segment with attributed factors. The report offers an overall qualitative and quantitative analysis of the market and is available for sale on the company website.
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Increasing Prevalence of Inflammatory Diseases will Add Impetus to Market
The increasing prevalence of inflammatory diseases namely ulcerative colitis, inflammatory bowel, psoriasis, and rheumatoid arthritis, and others are the major anti-inflammatory drugs market growth driver. As per the Centers for Disease Control and Prevention, an estimate of 78 million people in the U.S. will be diagnosed with arthritis by the end of 2040. Apart from this, the increasing uptake of corticosteroids for treating chronic obstructive pulmonary diseases (COPD) and asthma, coupled with the increasing prevalence of atopic dermatitis are likely to aid in the expansion of the market in the long run.
On the contrary, the side effects of using non-steroids anti-inflammatory drugs or NSAIDs such as dizziness, allergic reactions, stomach pain, stomach ulcers, and others may pose a major threat to the market in the coming years. This, coupled with the risk of gastrointestinal bleeding and other complications may hinder the market in the coming years.
North America to Emerge Dominant with Favorable Reimbursement Policies
Geographically, the market is dominated by North America with the rising demand for anti-inflammatory biologics, and government support for their launches. In 2019, North America earned a revenue of USD 41.39 billion, attributed to the massive investments in research and development that further expanded the regional market. The market in Europe, on the other hand, is likely to witness significant growth on account of active government support for launching biosimilars, and favorable health reimbursement policies. Moreover, the market in Asia Pacific will rise at a rapid speed on account of improving healthcare infrastructure and facilities, coupled with the increasing geriatric population, and rising preference for generic corticosteroids and NSAIDs. Furthermore, the Middle East and Latin American markets will gain momentum on account of the growing incidences of rheumatoid arthritis and improving healthcare infrastructure in the respective regions.
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Success Rate of Products will Help Companies Maintain their Position
Many players are operating in the global market for anti-inflammatory drugs out of which Johnson & Johnson and AbbVie are holding the dominant shares. The rise in the number of Humira, a multiple indications monoclonal antibody for multiple indications such as ulcerative colitis, psoriasis arthritis, and rheumatoid arthritis, among others is responsible for AbbVie earning major revenues in the market. As per research analysts at Fortune Business Insights, this company generated a revenue of USD 19.2 billion solely from Humira sales worldwide. Similarly, the sale of Simponi, Sterala, and Remicade by Johnson & Johnson has helped this company enjoy the dominant position in the market. Besides this, other players are engaging in merger and acquisition, contracts and agreements, joint ventures, and other collaborative efforts to gain a competitive edge in the market.
List of Anti-Inflammatory Drugs Market Manufacturers include:
Major Industry Developments of the Market include:
August 2019 – AbbVie declared the launch of a janus kinase inhibitor called RINVOQ for treating rheumatoid arthritis
November 2018 – A wholly owned subsidiary of Novartis AG declared the launch of an infliximab biosimilar called Zessly in Germany.
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