Anti-Rheumatic Drugs - Belarus

Belarus

in Belarus, a country Eastern_Europe, is expected to contribute to the revenue in the Anti-Rheumatic Drugs market.
It is projected that by 2024, the revenue in this market will reach US$6.68m in Belarus.
Looking ahead, the market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 0.39%, resulting in a market volume of US$6.81m in Belarus by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in this market, with a projected revenue of US$34,700.00m in 2024.
Belarus is experiencing an increasing demand for anti-rheumatic drugs due to the rising prevalence of rheumatic diseases in the country.

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

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Analyst Opinion

Belarus, a landlocked country in Eastern Europe, has been witnessing a steady growth in the Anti-Rheumatic Drugs market over the years.

Customer preferences: Patients suffering from rheumatic disorders in Belarus prefer medications that offer quick relief from pain and inflammation. They also prefer drugs that are affordable and easily accessible. As a result, nonsteroidal anti-inflammatory drugs (NSAIDs) and disease-modifying antirheumatic drugs (DMARDs) are the most commonly prescribed medications in the country.

Trends in the market: The Anti-Rheumatic Drugs market in Belarus has been growing due to the increasing prevalence of rheumatic disorders in the country. The market is also witnessing a shift towards biologic drugs, which offer better outcomes and fewer side effects than traditional drugs. However, the high cost of biologics is a major barrier to their widespread adoption in the country. As a result, biosimilars are gaining popularity in Belarus as they offer similar efficacy and safety profiles at a lower cost.

Local special circumstances: Belarus has a well-developed healthcare system that provides universal coverage to its citizens. The government heavily regulates drug prices in the country, which has led to lower prices for medications compared to other European countries. However, the government's budget constraints have limited its ability to fund expensive biologic drugs, which has resulted in limited access to these drugs for patients.

Underlying macroeconomic factors: The Belarusian economy has been growing steadily over the years, which has led to an increase in healthcare spending in the country. The government has been investing in the development of its healthcare infrastructure to improve the quality of care provided to its citizens. However, the country's political situation and its strained relationship with some Western countries have limited its ability to access new drugs and technologies. This has resulted in a slower adoption of biologic drugs in the country compared to other European countries.In conclusion, the Anti-Rheumatic Drugs market in Belarus is witnessing a shift towards biologic drugs, which offer better outcomes and fewer side effects than traditional drugs. However, the high cost of biologics is a major barrier to their widespread adoption in the country. Biosimilars are gaining popularity in Belarus as they offer similar efficacy and safety profiles at a lower cost. The government's budget constraints have limited its ability to fund expensive biologic drugs, which has resulted in limited access to these drugs for patients.

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.