The polymyalgia rheumatica drugs market has gained huge traction over the past few years on account of increasing incidences of autoimmune disorders such as rheumatoid arthritis and lupus. Polymyalgia rheumatica (PMR) is a condition that causes pain and stiffness in the muscles around the neck, shoulders and hips. It generally affects people who are aged 50 years and above. Drugs such as corticosteroids are commonly used to treat PMR symptoms and inflammation.
The polymyalgia rheumatica drugs market is estimated to be valued at USD 266 Mn in 2024 and is expected to reach USD 662 Mn by 2031, growing at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The increasing geriatric population and rising number of autoimmune disease cases is driving the demand for Polymyalgia Rheumatica Drugs Market worldwide. Steroids remain the treatment of choice for PMR given their rapid and effective relief of symptoms. Biologics are also emerging as a promising therapeutic option with fewer side effects compared to long term corticosteroid use. However, factors such as high costs associated with biologics and long term intake risks are challenging the market growth to some extent.
Key players operating in the polymyalgia rheumatica drugs market are Pfizer, AbbVie, Bristol-Myers Squibb, and Novartis. The market offers lucrative opportunities in the form of pipeline drugs portfolio expansion by major companies and geographical expansion into emerging Asian and Latin American countries. Companies are focusing on establishing manufacturing and distribution partnerships in high growth regions to tap the large undiagnosed patient pool. For instance, AbbVie has entered strategic collaborations with Asian pharmaceutical players to commercialize its PMR drugs in key Asian markets.
Market Drivers
The rising prevalence rate of autoimmune disorders globally is anticipated to remain a key growth driver. According to estimates, the global prevalence of autoimmune diseases ranges between 7-9% with women being disproportionately affected more than men. Growing awareness about early diagnosis and availability of various treatment options is positively impacting the market growth. Government and non-profit organizations are undertaking various patient education initiatives to enhance early detection of PMR.
Market Restraints
Side effects associated with long term corticosteroids usage such as osteoporosis, diabetes, and infections poses compliance challenges. This may restrain the demand to some extent. High costs involved in development and regulatory approvals of novel drugs also restricts new market entrants. Biologic drugs for PMR management come with significant high costs which limits wide scale adoption.
Segment Analysis
The polymyalgia rheumatica drugs market is dominated by corticosteroids segment. Corticosteroids such as prednisone are the first line of treatment for polymyalgia rheumatica and account for majority of prescription for the disease. Corticosteroids are effective in providing fast relief from pain and stiffness caused by inflammatory condition. Other segments include disease-modifying anti-rheumatic drugs and nonsteroidal anti-inflammatory drugs. Disease-modifying anti-rheumatic drugs segment is growing rapidly as new targeted drug therapies are being researched and approved to control the disease with less adverse effects compared to corticosteroids used for long term.
Global Analysis
North America region dominates the polymyalgia rheumatica drugs market currently. This is due to high diagnosis and treatment rates in the region. Countries like United States have high awareness about the disease and developed healthcare infrastructure to diagnose and treat patient population effectively. Europe is the second largest market and is poised to witness fastest growth during the forecast period. Increasing geriatric population, government initiatives to enhance healthcare quality, and improving reimbursement policies are some factors boosting the market in the European countries.
Get this Report in Japanese Language: リウマチ性多発筋痛症治療薬市場
Get this Report in Korean Language: 다발성 근육통 류마티스 약물 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Herbal Treatment for Polymyalgia Rheumatica read the Symptoms and Causes.
Natural Remedies for Polymyalgia Rheumatica and Supplement can help reverse immune system.
Natural Remedies for Polymyalgia Rheumatica normally consists of treating the symptoms or complications that can occur from Polymyalgia Rheumatica.
