Arthritis Monoclonal Antibodies Market Slows Due to COVID-19, Expected to Recover and Reach $56.05 Billion in 2023

Strategic Insights -

The arthritis monoclonal antibodies market is experiencing a decline in growth due to the COVID-19 pandemic, but it is expected to recover and reach $56.05 billion in 2023. The market was valued at $46.48 billion in 2019 and is expected to decline to $45.18 billion in 2020 at a compound annual growth rate (CAGR) of -2.8%. The decline is mainly due to the pandemic's impact on the supply chain and operational challenges. However, the market is expected to recover and reach $56.05 billion in 2023 at a CAGR of 7.45%.

The high cost of monoclonal antibodies is a major restraint on the market growth, with an average annual price of $96,731 for a one-year treatment. The development of therapeutic monoclonal antibody products is becoming an essential tool in the treatment of arthritis, with improved treatment options available with the launch of a greater number of monoclonal antibody drugs. The increasing prevalence of arthritis globally has contributed to the growth of the arthritis monoclonal antibody market, with the key players including Johnson & Johnson, Roche, Novartis, Pfizer Inc, AbbVie Inc., Amgen Inc., Genentech, GSK, AstraZeneca PLC, and Mylan N.V.

Key Takeaways:

  • The arthritis monoclonal antibodies market is expected to decline from $46.48 billion in 2019 to $45.18 billion in 2020 at a CAGR of -2.8%.
  • The market is expected to recover and reach $56.05 billion in 2023 at a CAGR of 7.45%.
  • The high cost of monoclonal antibodies is a restraint on the market growth, with an average annual price of $96,731 for a one-year treatment.
  • The development of therapeutic monoclonal antibody products is becoming an essential tool in the treatment of arthritis, with improved treatment options available with the launch of a greater number of monoclonal antibody drugs.
  • The key players in the market include Johnson & Johnson, Roche, Novartis, Pfizer Inc, AbbVie Inc., Amgen Inc., Genentech, GSK, AstraZeneca PLC, and Mylan N.V.

Statistics:

  • The global arthritis monoclonal antibodies market was valued at $46.48 billion in 2019.
  • The market is expected to decline to $45.18 billion in 2020 at a CAGR of -2.8%.
  • The market is expected to recover and reach $56.05 billion in 2023 at a CAGR of 7.45%.
  • The average annual price of a one-year treatment with monoclonal antibodies is $96,731.
  • The prevalence of arthritis varies by country, with adult percentages ranging from 11.2% to 42.7%.

Sources:

  • "Arthritis Monoclonal Antibodies Global Market Report 2020-30: COVID-19 Growth and Change"
  • ResearchAndMarkets.com
  • American Journal of Managed Care (AJMC)
  • Centre for Disease Control and Prevention (CDC)
  • World Health Organization (WHO)
  • GlobeNewswire
  • GlobeNewswire, Inc.