Polymyalgia Rheumatica Drugs Market Poised To Grow At A Robust Pace Due To Rising Geriatric Population



Polymyalgia rheumatica (PMR) is a disorder characterized by pain and stiffness in the neck, shoulders and hip girdle. Symptoms are typically bilateral and symmetrical. PMR often occurs in people over 50 years of age and is more common in women. Symptoms of PMR are inflammation in the connective tissue around muscles and joints. Along with mild swelling and pain in arms, neck or thighs, people with PMR may also experience fatigue and stiffness that is worse in the morning and after inactivity. Nonsteroidal anti-inflammatory drugs (NSAIDs) are often tried first to relieve pain and stiffness in PMR. However, corticosteroids are the most effective treatment for PMR. Steroids like prednisone work to reduce inflammation.

The Polymyalgia Rheumatica Drugs Market is estimated to be valued at US$ 266 Mn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024-2031.

The high growth is attributed to rising geriatric population globally as PMR mostly affects elderly people above 50 years of age.

Key Takeaways

Key players operating in the polymyalgia rheumatica drugs are Sparrow Pharmaceuticals, Novartis Pharmaceuticals, Roche Chugai, Chugai Pharmaceutical, Genentech Inc.

These players are increasingly focusing on developing novel treatment options for effective management of PMR symptoms.

There is high unmet need for development of targeted biologic drugs for polymyalgia rheumatica with better safety and efficacy profiles as compared to corticosteroids which are associated with several adverse effects. Manufacturers are investing in R&D of monoclonal antibodies and other biologics which can provide symptomatic relief without harmful side effects of steroids.

The companies are also exploring opportunities in emerging markets through partnerships and licensing agreements. Roche Holding expanded its polymyalgia rheumatica drugs portfolio in Asia Pacific through a distribution agreement with Chinese pharmaceutical company Innovent Biologics.

Market Drivers

Growing geriatric population: As per WHO, number of people aged 60 years and above is expected to reach 2 billion by 2050 from 900 million currently. Since PMR occurs predominantly in elderly, rising senior population will drive its incidence rates.

Increasing awareness: Initiatives by arthritis foundations and healthcare agencies to educate public and physicians about signs & symptoms of PMR is improving diagnosis rates worldwide. This is a major growth lever for drugs market.

Market Restrains

Higher costs of biologics: Biologic drugs for PMR management have high costs which limits their widespread adoption especially in low and middle-income nations. This acts as a major barrier.

Presence of alternative treatment: NSAIDs and corticosteroids continue to remain first line options for PMR due to their efficacy and affordability. This poses challenge to adoption of newer biologic drugs.

Segment Analysis

The Polymyalgia Rheumatica Drugs Market is dominated by the corticosteroids segment. Corticosteroids are the first line of treatment for polymyalgia rheumatica and are highly effective in relieving symptoms such as pain and stiffness. Prednisone is commonly prescribed corticosteroid and has shown to dramatically reduce symptoms in days. The majority of patients with polymyalgia rheumatica will require corticosteroids either alone or in combination with other drugs for initial treatment and management of active disease.

Global Analysis

The North America region holds the largest share in the polymyalgia rheumatica drugs market owing to strong growth in the US market supported by favorable reimbursement policies and availability of advanced treatment options. Europe is the second largest market and is expected to grow at a steady rate during the forecast period. The Asia Pacific region is identified as the fastest growing market led by increasing healthcare expenditure, rising geriatric population and growing awareness about polymyalgia rheumatica. Japan and China are major countries contributing to market growth in the Asia Pacific region.

Get more insights on this topic: https://www.marketwebjournal.com/polymyalgia-rheumatica-drugs-market-is-estimated-to-witness-high-growth-owing-to-rising-geriatric-population/

 

Author Bio

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. (LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

What Are The Key Data Covered In This Polymyalgia Rheumatica Drugs Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Polymyalgia Rheumatica Drugs Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the Polymyalgia Rheumatica Drugs Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Polymyalgia Rheumatica Drugs Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Polymyalgia Rheumatica Drugs Market vendors

FAQ’s

Q.1 What are the main factors influencing the Polymyalgia Rheumatica Drugs Market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Polymyalgia Rheumatica Drugs Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Polymyalgia Rheumatica Drugs Market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

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