Key regions: Germany, United States, India, Japan, United Kingdom
The demand for Anti-Rheumatic Drugs in Armenia has been increasing over the past few years.
Customer preferences: Armenian customers prefer Anti-Rheumatic Drugs that are affordable and effective. They are more inclined towards generic drugs rather than branded ones. Customers also prefer drugs that have fewer side effects and are easily available in the market.
Trends in the market: The Anti-Rheumatic Drugs market in Armenia has been growing due to the increasing prevalence of rheumatic diseases in the country. The market has also been driven by the growing awareness among people about the availability of drugs and the importance of early diagnosis and treatment. The market has seen the entry of new players, which has increased competition and led to a decrease in prices.
Local special circumstances: Armenia has a high prevalence of rheumatic diseases, which has led to an increase in demand for Anti-Rheumatic Drugs. The country has a high burden of rheumatic diseases due to its geographical location and climate. The cold winters and high altitude make it a high-risk area for the development of rheumatic diseases.
Underlying macroeconomic factors: The Armenian economy has been growing steadily over the past few years, which has led to an increase in the purchasing power of the people. This has led to an increase in demand for healthcare services, including Anti-Rheumatic Drugs. The government has also been taking steps to improve the healthcare infrastructure in the country, which has led to an increase in the availability of drugs.In conclusion, the Anti-Rheumatic Drugs market in Armenia has been growing due to the increasing prevalence of rheumatic diseases in the country, growing awareness among people about the availability of drugs, and the entry of new players. Customers in Armenia prefer drugs that are affordable, effective, and have fewer side effects. The high burden of rheumatic diseases in Armenia is a local special circumstance that has led to an increase in demand for Anti-Rheumatic Drugs. The growing economy and improving healthcare infrastructure are underlying macroeconomic factors that have contributed to the growth of the market.
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.
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