Global Methotrexate Drugs Market, by Treatment Type (Psoriasis, Rheumatoid Arthritis, Cancer), by Route of Administration (Oral, Injection), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 590.2 Million in 2022 and is expected to exhibit a CAGR of 2.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Global methotrexate drugs market is expected to witness significant growth over the forecast period, owing to gaining marketing authorization approval from regulatory bodies. For instance, in September 2021, Nordic Pharma AAP, a privately owned, medium-size, fully integrated Pharma company announced that the Nordixate Methotrexate Pre-filled Syringe has been issued market authorization by Instituto Nacional de Vigilancia de Medicamentos y Alimentos, or INVIMA, the Colombian National Food and Drug Surveillance Institute in Colombia.
Increase in awareness campaigns by key market players is expected to boost the growth of global methotrexate drugs market over the forecast period. For instance, in September 2020, UCB, a global biopharmaceutical company, partnered with world-renowned tennis champion Caroline Wozniacki to launch Advantage Hers, a major new global health initiative. Inspired from Caroline’s rheumatoid arthritis, the campaign will raise funds from awareness to meet the unmet needs of millions of women across the world living with chronic inflammatory diseases, such as rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis and psoriasis, and provide information and support to empower them to take more active roles in their care.
Global Methotrexate Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic is expected to hamper the growth of global methotrexate drugs market over the forecast period.
The COVID-19 outbreak was first reported in December 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 418.65 million cases and 5.8 million deaths due to coronavirus (COVID-19) were reported up till February 22, 2022, across the globe. The COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; 3) through its financial impact on companies and financial markets. Furthermore, in August 2020, there were 24,922 confirmed cases of COVID-19 among health workers in the public sector in Peru, representing 9.8% of public sector health resources for health (HRH) in the same month. In April 2021, the country reported 57,901 confirmed cases in the public sector HRH (PAHO/WHO, 2021), i.e. an increase of 22.48%, relative to the public-sector HRH data from December 2020.
Moreover, increasing inorganic growth strategies such as collaboration by key market players is expected to drive the growth of global methotrexate drugs market. For instance, on March 31, 2022, Assertio Holdings, Inc., and BlinkRx, the leading patient access solution, announced a collaboration to support healthcare professionals and their patients undergoing treatment with Otrexup. This prescription medication is a drug device combination single-dose, once-weekly, auto-injector containing methotrexate for subcutaneous injections.
Global Methotrexate Drugs Market: Key Developments
Increasing government initiatives for setting up better healthcare infrastructure in the region, is expected to drive the growth of global methotrexate drugs market over the forecast period. For instance, in April 2018, Clinigen Group plc., the global pharmaceutical and services company, announced that TREXJECT subcutaneous methotrexate pre-filled syringes, are now listed on the Pharmaceutical Benefits Scheme (PBS), in Australia for the treatment of rheumatoid arthritis and psoriasis. Pharmaceutical Benefits Scheme (PBS) is an Australian Government program that benefits all Australians by subsidizing medicines to make them more affordable.
Browse 26 Market Data Tables and 32 Figures spread through 178 Pages and in-depth TOC on “Global Methotrexate Drugs Market”- Forecast to 2030, Global Methotrexate Drugs Market, by Treatment Type (Psoriasis, Rheumatoid Arthritis, Cancer), by Route of Administration (Oral, Injection), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in The Global Methotrexate Drugs Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/methotrexate-drugs-market-5276
Moreover, increasing number of research and development by key market players for the development of methotrexate drugs is expected to boost the growth of global methotrexate drugs market over the forecast period. For instance, on January 11, 2022, Aclaris Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, provided an update on the status of certain of its clinical programs and on its research and development (R&D) operations. Zunsemetinib, an Investigational Oral MK2 Inhibitor,
- Aclaris initiated study activities and began activating sites in December 2021 in the following two studies:
- ATI-450-RA-202: Phase 2b clinical trial of zunsemetinib in subjects with moderate to severe rheumatoid arthritis (RA). This is Aclaris’ second Phase 2 clinical trial of zunsemetinib in subjects with moderate to severe RA, and is primarily designed to assess the efficacy of multiple doses of zunsemetinib to aid in the selection of an optimal dose to progress in future development.
Key Takeaways of the Global Methotrexate Drugs Market:
- Global methotrexate drugs market is expected to exhibit a CAGR of 2.6% during the forecast period due to increasing research and development activities for development of chronic obstructive pulmonary disease treatment. For instance, in June 2021, Novartis announced Phase II primary endpoint data showing investigational iptacopan (LNP023) – a first-in-class, oral, targeted factor B inhibitor – reduced protein in the urine (proteinuria), an increasingly recognized surrogate marker correlating with progression to kidney failure, and showed promise in stabilizing kidney function in patients with IgA nephropathy (IgAN).
- Increasing inorganic growth strategies such as collaborations and agreements is expected to drive the growth of global methotrexate drugs market. For instance, in August 2020, AstraZeneca Plc. entered into a collaboration with Renalytix AI plc., a commercial-stage artificial intelligence-enabled in vitro diagnostics company to develop and launch precision medicine strategies for cardiovascular, renal, and metabolic diseases.
- Among regions, North America is estimated to account for the largest market share in the global methotrexate drugs market over the forecast period, owing to increasing number of product approvals from regulatory bodies. For instance, on July 08, 2022, Horizon Therapeutics plc., announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) expanding the labeling to include KRYSTEXXA (pegloticase) injection co-administered with methotrexate, which will help more people with uncontrolled gout achieve a complete response to therapy.
- Major players operating in the global methotrexate drugs market include LEO Pharma A/S, Bristol Myers Squibb, Nordic Pharma, Eli Lilly and Company, Horizon Therapeutics plc., Cumberland Pharmaceuticals Inc., Azurity Pharmaceuticals, Inc., Pfizer Inc., Hikma Pharmaceuticals PLC., and Onco Therapies Limited (Strides Arcolab Limited)
