The Polymyalgia Rheumatica Drugs Market is growing rapidly due to increasing aging population trends

Polymyalgia Rheumatica (PMR) is a medical condition characterized by pain and stiffness in the shoulders, neck and hip along with other systemic symptoms. Drugs used in treatment of Polymyalgia Rheumatica help in reducing inflammation and relieving symptoms of pain and stiffness. Steroid medication and immuno-suppressants are commonly used for Polymyalgia Rheumatica treatment. The global Polymyalgia Rheumatica drugs market offers wide range of therapeutics which include corticosteroids such as prednisone and nonsteroidal anti-inflammatory drugs (NSAIDs) such as naproxen. 

The polymyalgia rheumatica drugs market is estimated to be valued at USD 266 Mn in 2024 and is expected to reach USD 662 Mn by 2031, growing at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.

Key players: Key players operating in the Polymyalgia Rheumatica drugs are Pfizer, AbbVie, Novartis, Eli Lilly and Company, Merck & Co. Pfizer offers a generic drug called prednisone for Polymyalgia Rheumatica treatment. AbbVie provides Humira which is an immunosuppressant commonly used for Polymyalgia Rheumatica.

Growing demand: The rising prevalence of Polymyalgia Rheumatica Drugs Market mainly among elderly population aged above 50 years is a major factor driving the demand of drugs in the market. As per estimates, nearly 1-2% of population aged above 50 suffers from Polymyalgia Rheumatica globally increasing the uptake of treatment drugs.

Global expansion: Leading players in the market are expanding their production facilities and distribution networks globally especially in emerging regions of Asia Pacific and Latin America to tap the business opportunities. Companies are also strengthening their brand presence through promotional activities to increase product awareness.

Market key trends
Availability of biosimilars: Introduction of biosimilar drugs of blockbuster brands offers more treatment alternatives to patients at lower costs. For instance, Pfizer launched a biosimilar version of Humira named Automilra in Europe in 2022. This is expected to lower treatment expenditure for Polymyalgia Rheumatica patients globally in coming years.

Focus on combination therapies: Pharmaceutical companies are focusing on development of fixed dose combination therapies with an aim to improve therapeutic efficacy and treatment adherence. Some formulations in pipeline combines steroids with NSAIDs.

Porter’s Analysis
Threat of new entrants: The entry barrier for biosimilar drug development is high due to the requirement of high investment and longer development timeline.
Bargaining power of buyers: The bargaining power of buyers is moderate since polymyalgia rheumatica drugs market is dominated by few big players.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of alternative raw material suppliers in the market.
Threat of new substitutes: There is low threat from new substitutes due to limited treatment options available for polymyalgia rheumatica.
Competitive rivalry: The competitive rivalry is high among the existing players to gain higher market share.

The United States accounts for the major share of the global polymyalgia rheumatica drugs market owing to the high prevalence of the disease and availability of advanced healthcare facilities in the country. According to Cleveland Clinic, polymyalgia rheumatica affects around 40 people per 100,000 population in the United States annually, thereby driving the US market growth.

China is expected to witness the fastest growth during the forecast period due to the surge in geriatric population, improving healthcare infrastructure, and increasing disease awareness in the country. As per estimates, polymyalgia rheumatica is considered as a common rheumatic disease in China with annual incidence rate of 40-100 cases per 100,000 people aged over 50 years.

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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)