Anti-Rheumatic Drugs - Burkina Faso

Burkina Faso

The Anti-Rheumatic Drugs market in Burkina Faso is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is forecasted to reach US$2.20m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 1.41%, resulting in a market volume of US$2.36m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the global Anti-Rheumatic Drugs market, with an estimated value of US$34,700.00m in 2024.
Burkina Faso's market for anti-rheumatic drugs is experiencing a growing demand 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

The demand for Anti-Rheumatic Drugs in Burkina Faso is on the rise, with a growing number of patients seeking treatment for rheumatic diseases.

Customer preferences: Patients in Burkina Faso prefer Anti-Rheumatic Drugs that are affordable and effective in managing their symptoms. They are also increasingly interested in alternative therapies such as traditional medicine and herbal remedies.

Trends in the market: The Anti-Rheumatic Drugs market in Burkina Faso is experiencing growth due to several factors. Firstly, the population is aging, and rheumatic diseases are more prevalent among older adults. Secondly, there is a growing awareness of rheumatic diseases and their symptoms, leading to more patients seeking treatment. Thirdly, the government is investing in healthcare infrastructure, making it easier for patients to access treatment.

Local special circumstances: Burkina Faso is a low-income country, and many patients cannot afford expensive medications. This has led to a demand for affordable generic versions of Anti-Rheumatic Drugs. Additionally, traditional medicine is widely used in Burkina Faso, and some patients may prefer to use herbal remedies instead of Western medications.

Underlying macroeconomic factors: Burkina Faso's economy is heavily dependent on agriculture, and the country has a high poverty rate. This means that many patients cannot afford expensive medications and may turn to traditional medicine or herbal remedies instead. However, the government is investing in healthcare infrastructure, which is expected to improve access to healthcare and increase demand for Anti-Rheumatic Drugs.

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.