by Actemra drug is used to treat moderate to severe rheumatoid arthritis. It is a prescription medicine called an interleukin-6 (IL-6) receptor inhibitor. Actemra works by blocking the action of a protein called IL-6, which is involved in the inflammatory process of rheumatoid arthritis. By blocking IL-6, Actemra reduces inflammation, pain, and tenderness, and may help to prevent further joint damage. The increasing prevalence of rheumatoid arthritis and growing geriatric population is driving up the demand for Actemra drug across the globe.
The Global Actemra Drug Market is estimated to be valued at US$ 6.8 Billion in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024-2031.
Key Takeaways
Key players: Key players operating in the Actemra Drug market are Genentech, Biogen, Janssen, AbbVie and Amgen.
Key opportunities: Increasing research funding for rheumatoid arthritis and growing awareness about early diagnosis and treatment presents lucrative opportunities for players in this market.
Technological advancements: Advancements in antibody engineering has enabled development of more effective drugs like Actemra that specifically target IL-6 to offer relief from rheumatoid arthritis.
Market drivers:
Rising geriatric population:
Growing geriatric population worldwide is a major driver as rheumatoid arthritis is more common in older adults. People over the age of 65 years have four times higher prevalence of RA as compared to the general population
Increasing healthcare expenditure:
Rising disposable incomes in developing nations has increased healthcare spending which is facilitating greater adoption of expensive biologic drugs like Actemra for rheumatoid arthritis treatment.
Current challenges in Actemra drug industry
The Actemra drug industry is facing various challenges currently. The major challenges include patent expiration of some blockbuster drugs leading to revenue losses, increasing price pressure from generic competitors, stringent regulatory approvals for new drugs and indications. Furthermore, research and development of novel drugs requires huge investments and there is no assurance of commercial success. The industry also faces challenges related to drug development and manufacturing such as delay in clinical trials, failure of drug candidates in late stages and ensuring continuous supply of drugs.
SWOT Analysis
Strength: Actemra is approved for various indications like rheumatoid arthritis, giant cell arteritis which increases its market potential. It is one of the top selling drugs of Roche with multi-billion dollar annual sales.
Weakness: Patent expiry of some major drugs will impact future sales and profits of the company. Further R&D requires huge capital investments.
Opportunity: Unmet medical need in autoimmune and inflammatory diseases provide scope for market expansion. Emerging markets offer future growth opportunities.
Threats: Price control measures and drug price regulation policies can reduce profit margins. Increased generic competition post patent expiry is a major threat.
Geographical regions of concentration
Currently, North America accounts for the largest share of the global Actemra drug market, both in terms of value and volume. This is attributed to the high adoption of biologic drugs for treatment of various autoimmune disorders in the region coupled with favorable reimbursement policies.
Fastest growing region
Asia Pacific region is slated to be the fastest growing market for Actemra drug during the forecast period. This is due to rising geriatric population, growing burden of chronic diseases, increasing healthcare investments and improvement in accessibility of novel drugs in emerging countries of the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
