Anti-Rheumatic Drugs - Austria

Austria

The Anti-Rheumatic Drugs market in Austria is expected to witness a remarkable growth in the coming years.
According to projections, the revenue in this market is projected to reach US$90.59m in 2024.
Furthermore, an annual growth rate (CAGR 2024-2029) of 0.90% is expected, leading to a market volume of US$94.73m by 2029.
When compared to other countries globally, it is worth noting that United States is expected to generate the highest revenue in the Anti-Rheumatic Drugs market.
In 2024, the projected revenue for the United States is estimated to be US$34,700.00m.
Austria's market for anti-rheumatic drugs is experiencing a surge in demand due to the country's aging population and increasing prevalence of rheumatic diseases.

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

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Analyst Opinion

Anti-Rheumatic Drugs market in Austria has been experiencing growth in recent years.

Customer preferences: Patients with rheumatoid arthritis, ankylosing spondylitis, and other related disorders are the primary customers of anti-rheumatic drugs. These patients prefer drugs that provide them with relief from inflammation, pain, and stiffness in their joints. They also look for drugs that have minimal side effects and can be taken orally.

Trends in the market: The Anti-Rheumatic Drugs market in Austria has been growing due to the increasing prevalence of rheumatoid arthritis and other related disorders. The market is also being driven by the introduction of new drugs that are more effective and have fewer side effects. In addition, the government's efforts to improve healthcare infrastructure and increase access to healthcare services have also contributed to the growth of the market.

Local special circumstances: Austria has a high prevalence of rheumatoid arthritis and other related disorders, which has led to an increase in the demand for anti-rheumatic drugs. The country also has a well-developed healthcare system, which has made it easier for patients to access these drugs. In addition, the government has implemented policies to encourage the development of new drugs and to improve the affordability of healthcare services.

Underlying macroeconomic factors: The growth of the Anti-Rheumatic Drugs market in Austria can be attributed to several macroeconomic factors. The country has a stable economy, with a high GDP per capita and a low unemployment rate. This has led to an increase in disposable income, which has made it easier for patients to afford these drugs. In addition, the government's efforts to improve healthcare infrastructure and increase access to healthcare services have also contributed to 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.