Key regions: Germany, United States, India, Japan, United Kingdom
The Anti-Rheumatic Drugs market in BRICS is experiencing significant growth due to various underlying factors.
Customer preferences: Patients suffering from rheumatoid arthritis and other autoimmune diseases prefer Anti-Rheumatic Drugs over other treatments due to their effectiveness in reducing inflammation and pain. Moreover, the rising geriatric population in BRICS countries has increased the demand for these drugs as they are more prone to develop such diseases.
Trends in the market: In Brazil, the Anti-Rheumatic Drugs market is growing due to the increasing prevalence of rheumatoid arthritis and the government's initiatives to provide free medication to patients. In Russia, the market is expanding due to the growing awareness among the population and the availability of affordable drugs. In India, the market is witnessing growth due to the rising disposable income, increasing healthcare expenditure, and the launch of new drugs. In China, the market is growing due to the increasing prevalence of rheumatoid arthritis and the government's efforts to improve healthcare infrastructure.
Local special circumstances: In Brazil, the government's initiatives to provide free medication to patients suffering from rheumatoid arthritis have increased the demand for Anti-Rheumatic Drugs. In Russia, the availability of affordable drugs is driving the growth of the market. In India, the launch of new drugs and the increasing healthcare expenditure are contributing to the growth of the market. In China, the government's efforts to improve healthcare infrastructure are increasing the accessibility of Anti-Rheumatic Drugs to patients.
Underlying macroeconomic factors: The rising geriatric population, increasing prevalence of rheumatoid arthritis, and the growing awareness among the population about the benefits of Anti-Rheumatic Drugs are the major macroeconomic factors driving the growth of the market in BRICS countries. Moreover, the increasing healthcare expenditure and the launch of new drugs are also contributing to the growth of the market. However, the high cost of these drugs and the side effects associated with them may hinder the growth of the market in the future.
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.
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