Anti-Rheumatic Drugs - Benin

Benin

In the country of Benin, the revenue in the Anti-Rheumatic Drugs market is forecasted to reach US$0.86m in 2024.
It is expected to display a yearly growth rate (CAGR 2024-2029) of 0.91%, leading to a market volume of US$0.90m by 2029.
When compared to other countries worldwide, United States is projected to generate the highest revenue in this market, amounting to US$34,700.00m in 2024.
Benin has seen a growing demand for anti-rheumatic drugs due to an increase in the prevalence of rheumatic diseases in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Rheumatic Drugs market in Benin is showing signs of steady growth in recent years.

Customer preferences: As in many other countries, the demand for Anti-Rheumatic Drugs in Benin is driven by an aging population and the rising prevalence of chronic diseases. Additionally, there is a growing awareness among the population about the benefits of early diagnosis and treatment of rheumatic diseases, which is leading to an increase in the number of patients seeking medical attention.

Trends in the market: One of the main trends in the Anti-Rheumatic Drugs market in Benin is the shift towards biologic drugs. While traditional drugs such as non-steroidal anti-inflammatory drugs (NSAIDs) and corticosteroids continue to be widely used, more and more patients are opting for biologic drugs due to their higher efficacy and lower risk of side effects. This trend is expected to continue in the coming years, as more biologic drugs become available in the market.Another trend in the market is the increasing use of combination therapies. Rheumatic diseases are often complex and require a combination of drugs to manage symptoms effectively. As a result, healthcare providers in Benin are increasingly prescribing combination therapies that include both traditional and biologic drugs.

Local special circumstances: One of the challenges in the Anti-Rheumatic Drugs market in Benin is the lack of access to healthcare in rural areas. While the country has made significant strides in improving healthcare infrastructure in recent years, many rural areas still lack basic medical facilities and trained healthcare professionals. This makes it difficult for patients in these areas to access the drugs they need to manage their conditions.

Underlying macroeconomic factors: Benin is one of the fastest-growing economies in West Africa, with a GDP growth rate of around 6% in recent years. This has led to an increase in disposable income, which has, in turn, led to an increase in healthcare spending. Additionally, the government has been investing heavily in healthcare infrastructure, which has helped to improve access to healthcare services in the country.In conclusion, the Anti-Rheumatic Drugs market in Benin is expected to continue to grow in the coming years, driven by an aging population, the rising prevalence of chronic diseases, and increasing access to healthcare services. However, the market still faces challenges such as the lack of access to healthcare in rural areas. Overall, the trend towards biologic drugs and combination therapies is expected to continue, as patients become more aware of their benefits.

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.