Anti-Rheumatic Drugs - Bhutan

Bhutan

The projected revenue in the Anti-Rheumatic Drugs market in Bhutan is expected to reach US$160.10k by the year 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 0.54%, leading to a market volume of US$164.50k by 2029.
In comparison to other countries worldwide, United States is projected to generate the highest revenue, amounting to US$34,700.00m in 2024.
The demand for anti-rheumatic drugs in Bhutan is increasing due to the rising incidence of rheumatic diseases in the country.

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

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Analyst Opinion

The Anti-Rheumatic Drugs market in Bhutan has been experiencing steady growth in recent years.

Customer preferences: Bhutanese patients suffering from rheumatoid arthritis and other rheumatic diseases have been increasingly seeking medical treatment and medication to manage their conditions. As a result, the demand for Anti-Rheumatic Drugs has been steadily increasing in the country.

Trends in the market: One of the major trends in the Anti-Rheumatic Drugs market in Bhutan is the shift towards biologic drugs. Biologic drugs have been gaining popularity due to their higher efficacy and lower side effects compared to traditional non-biologic drugs. This trend is in line with the global market trend towards biologic drugs.

Local special circumstances: Bhutan's unique geography and demographics have contributed to the growth of the Anti-Rheumatic Drugs market. The country's high altitude and cold climate can worsen rheumatic conditions, leading to a higher demand for medication. Additionally, Bhutan has an aging population, which is more susceptible to rheumatic diseases.

Underlying macroeconomic factors: Bhutan's growing economy and increasing healthcare expenditure have also contributed to the growth of the Anti-Rheumatic Drugs market. The government's focus on improving healthcare infrastructure and services has led to better access to medication for patients. Furthermore, Bhutan's membership in the World Trade Organization has opened up opportunities for international pharmaceutical companies to enter 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.