Anti-Rheumatic Drugs - Belgium | Statista Market Forecast

The market for Anti-Rheumatic Drugs market in Belgium is anticipated to witness a substantial growth in the coming years.
According to projections, the revenue in this market is expected to reach US$145.10m by 2024.
Furthermore, it is estimated that the market will experience a steady annual growth rate of 0.20% (CAGR 2024-2029), ultimately leading to a market volume of US$146.50m by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in this market, with an estimated value of US$34.70bn in 2024.
Belgium's demand for anti-rheumatic drugs is steadily increasing due to a growing elderly population and rising awareness about rheumatic disorders.

Definition:
The market Anti-Rheumatic Drugs includes medication for the treatment of the inflammatory disease rheumatism. Due to the high prevalence of rheumatism and the large size of the market, this section of immune diseases is treated as a separate market. Both steroidal and non-steroidal anti-rheumatics are included. Disease-modifying rheumatic drugs (DMARDs), such as tumor necrosis factor inhibitors (a type of biologic DMARD), are particularly important in terms of commerciality.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: AbbVie, Johnson & Johnson, Pfizer, Amgen, Roche

Drugs to treat rheumatism
Steroidal (corticosteroids) and non-steroidal anti-rheumatics
Disease-modifying antirheumatic drugs (DMARDs)
Tumor necrosis factor (TNF) inhibitors

Drugs to treat other autoimmune diseases (such as multiple sclerosis or psoriasis)
Analgetics for general use (such as paracetamol)
Treatment of osteoarthritis

Belgium, a country known for its medieval towns, chocolate, and waffles, has a growing Anti-Rheumatic Drugs market.

Customer preferences: Belgium has a high prevalence of rheumatoid arthritis, which is a key driver of the Anti-Rheumatic Drugs market. Patients with rheumatoid arthritis prefer biologic drugs due to their effectiveness in managing the disease. However, the high cost of these drugs has led to a preference for biosimilars, which are cheaper alternatives to biologics.

Trends in the market: The Anti-Rheumatic Drugs market in Belgium is witnessing a shift towards biosimilars due to their cost-effectiveness. The Belgian government has introduced policies to encourage the use of biosimilars, which has led to an increase in their adoption. Additionally, the market is witnessing an increase in the use of combination therapies, which involve the use of two or more drugs to manage rheumatoid arthritis.

Local special circumstances: Belgium has a well-established healthcare system that provides universal coverage to its citizens. The healthcare system is funded through a combination of social security contributions and taxes. The government plays a significant role in regulating the healthcare system, which has led to the introduction of policies to encourage the use of biosimilars.

Underlying macroeconomic factors: Belgium has a stable economy and a high standard of living, which has led to an increase in healthcare spending. The government has allocated a significant portion of its budget towards healthcare, which has led to an increase in the availability of healthcare services. Additionally, Belgium has a highly educated population, which has led to an increase in awareness about rheumatoid arthritis and the available treatment options.In conclusion, the Anti-Rheumatic Drugs market in Belgium is witnessing a shift towards biosimilars due to their cost-effectiveness. The government's policies to encourage the use of biosimilars have led to an increase in their adoption. Additionally, the use of combination therapies is increasing in the market. Belgium's well-established healthcare system and stable economy have contributed to the growth of the Anti-Rheumatic Drugs 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.