Prohibitive Drug Pricing Continues to Restrict Arthritis Therapeutics Industry

Posted on 2020-02-13 by Mark Hub in Healthcare // 0 Comments

healthcare

Arthritis encompasses around 200 health conditions that affect joints and the tissues in such areas. Osteoarthritis is the most commonly found type of arthritis, and most therapeutics are aimed to combat this condition.

Treatments for arthritis are more prevalent across Europe and North America, which can be attributed to the higher level of patient awareness about the condition in comparison to other places around the world. The global arthritis therapeutics market is expected to grow by around 1.5 times through the forecast period till 2027.

The growth can be largely attributed to the growing transition activity from patients from depending on conventional pharmaceuticals to choosing to biologics, as therapy options related to biologics, with the aim of improving patient life substantially. In addition, the industry is witnessing a number of biologics products, which are indicative of superior commercial prospects that are in clinical trials, which are aldo driving developments in the industry.

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Europe and North America Dominate Consumption

The arthritis therapeutics market is mostly active around the countries in North America and Europe in comparison to other regions around the globe. This trend can be largely be attributed to the presence of major medical businesses in these region, which are driving a high level of research and development activity in the region.

Such activity helps in boosting the availability of drugs, by strengthening production and development networks and widening product portfolios. Further, the addition of biosimilars and biologics to the list of existing arthritis therapeutics, and the rising number of drugs which are due to face patent enquiries are also expected to aid the growth of the market in the region.

In terms of the Asia Pacific region, an increasing number of investments towards incremental changes in the healthcare industry are expected to contribute to the arthritis therapeutics industry in the region, which will be supported by the continuing adoption of biologics alternatives.

Cost and Recovery Benefits Support Parenteral Administration

In comparison to other modes of administration, oral and topical are expected to be surpassed by parenteral options, owing to tests which have revealed improved patient outcomes through these methods. Parenteral methods have proven to reduce recovery time and treatment costs, and is being supported by the easy availability of biosimilar products, which increased the adoption of injected drugs.

On the other hand, in cases where patients are needed to undergo a longer term of treatment, oral administration of therapeutics is expected to remain the preferred option, while topical administration options are expected to stay strong owing to the introduction of NSAIDs, which have become a popular option to treat joint pain issues.

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Drug Costs Challenge Industry

Advances in antibody therapeutics have been have challenged by high prices, despite the better outcomes accounting for up to USD 3000 for each month of treatment. Companies have witnessed up to a 100 per cent rise, which impacts patient budgets, and drives the demand to alternative treatments.

Online pharmacies have been playing a major role in offsetting these issues through heavy discounts which are expected to continue and grow for the foreseeable future.

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