Actemra is a prescription medicine used alone or with other medications to treat rheumatoid arthritis (RA) and certain types of juvenile idiopathic arthritis (JIA). Actemra helps reduce signs and symptoms such as pain, stiffness and swelling. The drug works by inhibiting the effects of a protein called interleukin-6 (IL-6), which is involved in the inflammatory process of rheumatoid arthritis.
Actemra Drug Market provides advantages like rapid pain relief, reduced progression of joint damage and improved physical function for patients with moderate to severe active RA. The treatment is also well-tolerated with a consistent safety profile. As RA can affect physical functioning and mobility over time, the need for effective drugs like Actemra is surging to control inflammation and protect joints from further damage.
The Actemra drug market is estimated to be valued at USD 3.796 Bn in 2024 and is expected to reach USD 6.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Key Takeaways
Key players operating in the Actemra Drug market are F. Hoffmann-La Roche Ltd, Biocon, Pfizer Inc, Dr. Reddy's Laboratories Ltd.
increasing healthcare expenditure and R&D investments by governments as well as pharmaceutical companies to develop biologics for autoimmune disorders provide lucrative opportunities in the market.
Rising adoption of biosimilars, increasing access to healthcare in emerging markets and collaborations for manufacturing of Actemra will further aid the expansion of the global Actemra drug market during the forecast period.
Market Drivers
The rising prevalence of rheumatoid arthritis globally is the major factor driving the growth of Actemra drug market. As per estimates, around 1% of the worldwide population suffers from RA with women three times more likely to be affected than men. Additionally, growing geriatric population who are at highest risk also supplements the market growth. Other key drivers include favorable government policies to encourage adoption of biologics and increasing healthcare awareness among patients.
PEST Analysis
Political: Regulations regarding prescription and pricing of biologics can impact the sales of Actemra drug. Changes in national healthcare policies may positively or negatively influence the market.
Economic: Rising disposable incomes have led to an increase in healthcare spending. Economic slowdowns can potentially decrease the demand for such treatments.
Social: A growing geriatric population and increasing prevalence of rheumatoid arthritis present a sizable patient pool. Greater health awareness in societies drives the need for effective pharmaceutical solutions.
Technological: Advancements in biologics research aid the development of Actemra biosimilars with similar efficacy. Telehealth and remote monitoring technologies help improve access and management of chronic conditions.
Geographical regions with concentrated market value
North America accounts for the largest share of the Actemra drug market value currently, led by the United States. This is attributed to the high diagnosis and treatment rates for rheumatoid arthritis in the region coupled with strong reimbursement policies. Rising obesity prevalence further drives the market growth.
Fastest growing regional market
The Asia Pacific region is predicted to witness the fastest market growth during the forecast period due to the improving healthcare infrastructure, rapid economic development and growing medical needs of expanding patient populations in China, India and other developing nations. Greater awareness about biologics and increased spending on specialty drugs will support higher demand.
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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)
