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Global Polymyalgia Rheumatica Treatment Market to Grow at a CAGR of 4.8% During 2021-2026, Aided by the Rising Geriatric Population

According to a new report by EMR titled, ‘Global Polymyalgia Rheumatica Treatment Market Report and Forecast 2021-2026’, the market attained a value of about USD 177 million in 2020. The industry is further expected to grow at a CAGR of 4.8% in the forecast period of 2021-2026 to reach a value of nearly USD 233 million by 2026.

Europe is projected to hold a significant share of the overall market owing to the growing female geriatric population in the region. Moreover, the robust healthcare sector in the region is increasing accessibility to optimal healthcare among the population, hence aiding the market growth. The high prevalence of polymyalgia rheumatica in Scandinavian countries such as Norway is also invigorating the industry growth. In addition, the introduction of favourable government initiatives to aid the treatment of polymyalgia rheumatica in the region is providing further boost to the market growth. Apart from this, North America is witnessing robust growth due to the presence of major companies in the area. Moreover, increasing research and development (R&D) activities for the development of more effective treatment in the region is propelling the market growth.

GlaxoSmithKline plc (NYSE: GSK), one of the leading companies in the market, announced in June 2021 that it would present data from key focus areas within its oncology portfolio at the America Society of Clinical Oncology Annual Meeting and the European Hematology Association Virtual Congress. The company is expected to demonstrate innovative approaches for research and development (R&D) activities in oncology using cutting-edge technology at the meetings. It shared data from a combined analysis of three phases III studies in patients with mutated ovarian cancer. Various immune-mediated adverse reactions occurred in several patients in their musculoskeletal and connective tissue, and polymyalgia rheumatica was observed. This is anticipated to surge the use of polymyalgia rheumatica treatment. Such measures are projected to aid the market growth in the forecast period.

Market Analysis by Diagnostic Method, Drug Class, Route of Administration, End Use and Region:

  • The market, on the basis of diagnostic method, can be divided into blood tests and imaging tests.
  • Based on drug class, the industry can be divided into corticosteroids, disease-modifying anti-rheumatic drugs, and nonsteroidal anti-inflammatory drugs, among others.
  • By route of administration, the market is segmented into oral and parenteral.
  • The end uses of polymyalgia rheumatica treatment include hospitals, homecare, and speciality clinics, among others.
  • The regional markets for polymyalgia rheumatica treatment include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing use of steroids such as corticosteroids in the treatment of polymyalgia rheumatica is propelling the market growth.
  • The market is being driven by the development of drugs that can treat various rheumatological diseases such as polymyalgia rheumatica and rheumatoid arthritis.
  • The introduction of clinical programs by leading companies to evaluate the safety and efficiency of novel drugs is augmenting the growth of the polymyalgia rheumatica treatment.
  • The growing demand for physical therapy for the treatment of polymyalgia rheumatica is invigorating the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global polymyalgia rheumatica treatment market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the diagnostic methods, drug classes, routes of administration, end uses, and regions of polymyalgia rheumatica treatment.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for polymyalgia rheumatica treatment are Sanofi SA, Apotex Corporation, GlaxoSmithKline plc, AbbVie Inc., and Horizon Therapeutics plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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