Key Market Overview:
Polymyalgia Rheumatica Treatment Market witnessed a valuation of USD 190.06 Million in 2022, with a projected CAGR of 4.2% during the forecast period (2023-2030), the Polymyalgia Rheumatica Treatment Market is expected to reach a value of USD 263.23 Million by 2030
Polymyalgia rheumatica (PMR) refers to a medical condition that causes stiffness, pain, and inflammation in the muscles around the neck, shoulders, and hips. Various types of drug classes are often utilized for the treatment of Polymyalgia rheumatica (PMR) to help relieve the symptoms. The polymyalgia rheumatica (PMR) treatments target at minimizing pain & inflammation along with easing achiness, stiffness, fever, fatigue, and others. Thus, due to the above benefits, the increasing utilization of polymyalgia rheumatica (PMR) drugs is in hospitals, specialty clinics, and others.
For instance, Brigham and Women\'s Hospital, based in the United States is actively utilizing low-dose steroids (glucocorticoids) for the treatment of Polymyalgia rheumatica (PMR). Thus, the increasing adoption of polymyalgia rheumatica (PMR) treatment in hospitals to enable a reduction in inflammation is fostering the growth of the market.
Polymyalgia Rheumatica Treatment Market Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||263.23 Million|
|CAGR (2023-2030)||4.2 %|
|By Drug Class||Corticosteroids, Disease-Modifying Anti-Rheumatic Drugs (DMARDS), Nonsteroidal Anti-Inflammatory Drugs (NSAIDS), and Others|
|By End User||Hospitals, Homecare, Specialty Clinics, Others|
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
|Key Players||Regeneron Pharmaceuticals Inc., Sanofi, GSK plc, Merck & Co., Inc., Pfizer Inc., Centurion Healthcare Private Limited, Hovione, MODASA, Pharmaceuticals Pvt. Ltd., F. Hoffmann-La Roche Ltd., and AbbVie Inc.|
The polymyalgia rheumatica treatment is ideal for the rapid improvement of the condition within a few days. Furthermore, the polymyalgia rheumatica treatment control painful myalgia. For instance, according to the recent statistics published by the National Organization for Rare Disorders, Inc., polymyalgia rheumatica highly affects people over the age of 50 years. The rate of polymyalgia rheumatica disorder is approximately 50 people out of 100,000 with more than 50 years of age. Polymyalgia rheumatica is anticipated to impact 450,000 people in the U.S. Thus, the increasing prevalence of polymyalgia rheumatica among the elderly population is boosting the adoption of polymyalgia rheumatica treatment to improve muscle stiffness, which, in turn, is driving the market growth.
Polymyalgia rheumatica drugs have several side effects including, changes in their mental state, depression, aggression, anxiety, confusion, and others. For instance, according to the United Kingdom National Health Service, approximately 1 in 20 patients taking take prednisolone for the treatment of polymyalgia rheumatica experience changes in their mental state. Thus, the several side effects associated with polymyalgia rheumatica drugs are a major concern for patients and healthcare providers and can limit adoption, for this reason, adverse side effects associated with polymyalgia rheumatica drugs are hampering the demand of the market.
The increasing process of clinical trials for the testing of polymyalgia rheumatica drugs is increasing in countries such as the United Kingdom, and the United States. The prime factor for the growth of the clinical trials of polymyalgia rheumatica drugs to increasing the commercialization of polymyalgia rheumatica drugs in the global market. For instance, in September 2022, Sparrow Pharmaceuticals commenced the Phase 2 clinical trial of SPI-62 for the treatment of polymyalgia rheumatica. As a result of the increasing clinical trials for polymyalgia rheumatica drugs, the product offering for polymyalgia rheumatica treatment will increase in future years, thereby creating a prominent growth outlook for the polymyalgia rheumatica treatment market.
Polymyalgia Rheumatica Treatment Market Segmentation:
By Drug Class
The drug class segment is classified into corticosteroids, disease-modifying anti-rheumatic drugs (DMARDS), nonsteroidal anti-inflammatory drugs (NSAIDS), and Others. In 2022, the corticosteroids segment accounted for the highest market share in the polymyalgia rheumatica treatment market. Corticosteroids are an efficient drug treatment for the polymyalgia rheumatica condition as corticosteroids blocks the effects of certain chemicals that result in inflammation inside the body. Thus, corticosteroids effectively relieve the symptoms of polymyalgia rheumatica. For illustration, in August 2021, GSK received FDA approval for JEMPERLI (dostarlimab-gxly), a product that can be utilized as corticosteroids for the potential treatment of polymyalgia rheumatica condition. Thus, the increasing developments associated with corticosteroids to enable superior treatment of polymyalgia rheumatica are proliferating the market growth.
However, nonsteroidal anti-inflammatory drugs (NSAIDS) are expected to grow at the fastest CAGR during the forecast period due to the increasing research and development activities for the commercialization of nonsteroidal anti-inflammatory drugs (NSAIDS).
By End User:
The end user segment is categorized into hospitals, homecare, specialty clinics, others. In 2022, hospitals segment accounted for the highest market share in the polymyalgia rheumatica treatment market. In hospitals, the utilization of polymyalgia rheumatica treatment enables vital treatment of polymyalgia rheumatica conditions by reducing the constitutional features of the disease. For instance, various hospitals in Germany such as Hôpital de La Tour à Meyrin (Genève), Hirslanden Clinique La Colline, and others are some of the prominent hospitals that are providing treatment for the polymyalgia rheumatica. These players are actively investing to form strategic collaborations with major polymyalgia rheumatica players to increase the product offering in hospitals. Hence, the increasing deployment of polymyalgia rheumatica treatments in hospitals to reduce pain and stiffness among patients is fostering market growth.
However, the homecare segment is expected to be the fastest-growing segment over the forecast period owing to the increasing adoption of polymyalgia rheumatica treatment so that patients can conveniently consult with doctors and get their medications easily.
By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, Asia Pacific accounted for the highest market share in the polymyalgia rheumatica treatment market. Polymyalgia rheumatica highly impacts the elderly population with an age of more than 50 years and since the elderly population is gradually increasing in the Asia Pacific region. For illustration, according to Asian Development Bank, approximately 1 out of 4 people in the Asia Pacific region will be more than 60 years old by 2050. Hence, the steady growth of the elderly population in the Asia Pacific region is expected to lead to increase in the prevalence of polymyalgia rheumatica cases, thereby driving the market growth in the upcoming years.
Nevertheless, North America is expected to be the fastest-growing region over the forecast period due to the presence of major players in the market, the development of new healthcare facilities for the treatment of polymyalgia rheumatica, and others.
Polymyalgia Rheumatica Treatment Market Competitive Landscape:
The polymyalgia rheumatica treatment market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
• Regeneron Pharmaceuticals Inc.
• GSK plc
• Merck & Co., Inc.
• Pfizer Inc.
• Centurion Healthcare Private Limited
• MODASA Pharmaceuticals Pvt. Ltd.
• F. Hoffmann-La Roche Ltd.
• AbbVie Inc.
• In February 2023, the U.S. Food and Drug Administration (FDA) approved Kevzara (sarilumab), manufactured by Sanofi for the treatment of polymyalgia rheumatica (PMR). Thus, the increasing development of a new range of polymyalgia rheumatica (PMR) drugs will accelerate market growth in the upcoming years.