Polymyalgia Rheumatica Drugs Market To Register Significant Growth Due To Rising Elderly Population

By Author: Ravina Pandya
Total Articles: 28
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Polymyalgia rheumatica (PMR) is a common inflammatory condition characterized by pain and stiffness in the shoulder and pelvic girdle muscles. It usually affects women over 50 years of age. Corticosteroids such as prednisone are commonly used to treat PMR symptoms. The main drugs used for treatment are nonsteroidal anti-inflammatory drugs (NSAIDs) and glucocorticoids. According to recent studies, glucocorticoids are considered the standard of care for PMR treatment.
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.

Key Takeaways

Key players operating in the Polymyalgia Rheumatica Drugs market are Pfizer, AbbVie, Novartis, Bristol-Myers Squibb.

Growing aging population is a major factor driving the demand for PMR drugs. According to estimates, over 10% of the global population will be over 65 years by 2050, significantly boosting the PMR patient pool.

Development of novel biologics and targeted therapies is expected to fuel Polymyalgia ...
... Rheumatica Drugs Market growth. Biologics such as TNF inhibitors are being evaluated for their effectiveness in PMR treatment. Monoclonal antibodies targeting IL-6 are also in the pipeline.

Market Trends
Increasing preference for biologics - Biologics such as anti-TNF drugs and IL-6 inhibitors are expected to gain popularity due to their targeted approach and favorable safety profile over corticosteroids.

Rise in clinical trial activity - Several pharmaceutical companies are conducting clinical trials to evaluate novel biologics such as anakinra, rilonacept and sarilumab for PMR. This will expand treatment options.

Market Opportunities
High unmet needs in developing countries - Awareness and diagnosis rates are still low in developing nations presenting significant entry opportunities.

Combination therapies - Combining biologics with corticosteroids may offer synergistic benefits with lowered corticosteroid doses. This represents an untapped opportunity.

The Polymyalgia Rheumatica Drugs market has strong prospects for growth given the rising geriatric demographic susceptible to PMR and ongoing pipeline development.

Impact Of COVID-19 On Polymyalgia Rheumatica Drugs Market Growth

The outbreak of COVID-19 pandemic has disrupted Polymyalgia Rheumatica Drugs market growth globally. Lockdowns imposed by various governments worldwide resulted in temporary closure of manufacturing facilities and disrupted supply chains. This led to shortage of drugs and delayed production schedules. Hospitals turned their focus towards treatment of COVID patients which impacted diagnosis and treatment of polymyalgia rheumatica cases. Patients avoided hospital visits for fear of contracting infection which negatively impacted demand. However, with progress in vaccination programs and relaxation of restrictions, market is recovering gradually. Major companies are resuming operations and focusing on online healthcare consultations to screen patients and manage treatment. Post pandemic, market is expected to grow steadily driven by increasing disease prevalence associated with aging population.

Geographical Concentration Of Polymyalgia Rheumatica Drugs Market

North America region dominates the global Polymyalgia Rheumatica Drugs market in terms of value. This is because of high disease prevalence, developed healthcare infrastructure and widespread health insurance coverage in countries like United States. According to a report, around 70% of the diagnosed polymyalgia rheumatica cases are in the North America region alone. Awareness levels are also high which aids in early diagnosis and treatment. Presence of leading drug manufacturers also contributes to market concentration in this region. Europe is the second largest market with major demand coming from countries like Germany, United Kingdom and France. Asia Pacific market is growing at a faster rate supported by improving healthcare penetration and rising healthcare spending in countries like China and India.

Fastest Growing Region ForPolymyalgia Rheumatica Drugs Market

Asia Pacific region is expected to witness fastest growth in the global Polymyalgia Rheumatica Drugs market over the forecast period. This is due to rapidly growing aging population that is more susceptible to this age-related condition. Additionally, improved access to healthcare facilities coupled with increasing healthcare expenditures is aiding early detection and management of polymyalgia rheumatica cases. Growing patient awareness about treatment options due to rising health consciousness will further drive the region's market growth. penetration of private insurance, emergence of local drug makers are other favorable factors driving the APAC Polymyalgia Rheumatica Drugs market. Furthermore, international players are also expanding their presence across Asia Pacific through strategic collaborations with regional drug makers which will accelerate the market expansion.
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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.
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