Key regions: Germany, United States, India, Japan, United Kingdom
The Anti-Rheumatic Drugs market in Australia & Oceania has been experiencing notable growth in recent years.
Customer preferences: Patients in Australia & Oceania are increasingly opting for biologic drugs due to their efficacy and reduced side effects. Additionally, there is a growing demand for biosimilars due to their lower cost compared to the originator biologics.
Trends in the market: The Anti-Rheumatic Drugs market in Australia has been experiencing steady growth due to the increasing prevalence of rheumatoid arthritis and other autoimmune diseases. The market is expected to continue to grow due to the launch of new drugs and the increasing availability of biosimilars. In New Zealand, the market is expected to see growth due to the increasing availability of biologic drugs and the government's focus on improving access to healthcare.
Local special circumstances: In Australia, the government's Pharmaceutical Benefits Scheme (PBS) provides subsidies for a range of anti-rheumatic drugs, making them more affordable for patients. Additionally, the government has implemented a biosimilar switching program to encourage the use of biosimilars. In New Zealand, the government's Pharmaceutical Management Agency (PHARMAC) negotiates with drug manufacturers to provide cost-effective treatments for patients.
Underlying macroeconomic factors: The aging population in Australia & Oceania has contributed to the increasing prevalence of rheumatoid arthritis and other autoimmune diseases, driving demand for anti-rheumatic drugs. Additionally, the improving healthcare infrastructure and increasing healthcare expenditure in the region have made these drugs more accessible to patients. The growing focus on research and development in the pharmaceutical industry has led to the launch of new drugs and biosimilars, further driving market growth.
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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