Anti-Rheumatic Drugs - Algeria

Algeria

The Anti-Rheumatic Drugs market in Algeria is anticipated to witness a considerable increase in revenue, with projections indicating a surge to US$25.09m in 2024.
This growth is expected to continue at a steady pace, with a projected compound annual growth rate (CAGR 2024-2029) of -0.14%.
As a result, the market volume is estimated to reach US$24.91m by 2029.
In comparison to other countries around Worldwide, United States is anticipated to generate the highest revenue in the Anti-Rheumatic Drugs market, with an estimated revenue of US$34,700.00m in 2024.
Algeria's anti-rheumatic drug market is witnessing a growing demand for biologic agents due to an increasing prevalence of rheumatoid arthritis in the country.

Key regions: Germany, United States, India, Japan, United Kingdom

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Analyst Opinion

The Anti-Rheumatic Drugs market in Algeria has been witnessing steady growth in recent years.

Customer preferences: Customers in Algeria prefer Anti-Rheumatic Drugs that are cost-effective and have minimal side effects. They also prefer drugs that are easily available and can be purchased without a prescription.

Trends in the market: The Anti-Rheumatic Drugs market in Algeria is witnessing an increasing demand for biologic therapies. This trend is driven by the growing awareness about the benefits of biologic therapies and the increasing availability of these drugs in the market. The market is also witnessing a shift towards combination therapies, as these therapies have been found to be more effective in treating rheumatoid arthritis.

Local special circumstances: Algeria has a high prevalence of rheumatoid arthritis, which is driving the demand for Anti-Rheumatic Drugs. The country has a large population of elderly individuals, who are more prone to developing rheumatoid arthritis. The government of Algeria is also taking steps to improve the healthcare infrastructure in the country, which is expected to further boost the demand for Anti-Rheumatic Drugs.

Underlying macroeconomic factors: The Algerian economy has been experiencing steady growth in recent years, which has led to an increase in disposable income among the population. This has resulted in an increase in healthcare spending, which is driving the growth of the Anti-Rheumatic Drugs market. The government of Algeria has also been taking steps to promote the development of the pharmaceutical industry, which is expected to further boost the growth of the market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.