Anti-Rheumatic Drugs - Central Asia

Central Asia

The Central Asian market for Anti-Rheumatic Drugs market is anticipated to witness a substantial increase in revenue, with projections indicating that it will reach a staggering US$30.56m by the year 2024.
Furthermore, this market is expected to display a steady annual growth rate (CAGR 2024-2029) of 1.99%, ultimately culminating in a market volume of US$33.73m by 2029.
When compared to other countries worldwide, it is noteworthy that United States will contribute significantly to the revenue generated in this sector, with an estimated US$34,700.00m projected for the year 2024.
Central Asia is witnessing a growing demand for innovative anti-rheumatic drugs, as the region grapples with increasing cases of rheumatoid arthritis and other related conditions.

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

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Analyst Opinion

The Anti-Rheumatic Drugs market in Central Asia has been steadily growing over the years, with several factors contributing to its development.

Customer preferences: Patients suffering from rheumatoid arthritis and other related conditions are increasingly looking for effective and affordable treatment options. As a result, there is a growing demand for Anti-Rheumatic Drugs in Central Asia. Patients are also seeking medications that have fewer side effects and are more convenient to use.

Trends in the market: One of the major trends in the Anti-Rheumatic Drugs market in Central Asia is the increasing use of biologic drugs. These drugs are more effective in treating rheumatoid arthritis and have fewer side effects than traditional disease-modifying antirheumatic drugs (DMARDs). Another trend is the growing popularity of biosimilars, which are cheaper versions of biologic drugs. Biosimilars are becoming increasingly popular in Central Asia due to their affordability and effectiveness.

Local special circumstances: Central Asia is a region with a high prevalence of rheumatoid arthritis and other related conditions. This has led to a growing demand for Anti-Rheumatic Drugs in the region. However, access to these drugs is limited in many countries in Central Asia due to their high cost. This has led to the emergence of a gray market for these drugs, where patients can purchase them at a lower cost.

Underlying macroeconomic factors: The Anti-Rheumatic Drugs market in Central Asia is also influenced by macroeconomic factors such as healthcare spending and government policies. Governments in Central Asia are increasingly investing in healthcare infrastructure and services, which is driving the growth of the Anti-Rheumatic Drugs market. Additionally, the rise of medical tourism in the region is also contributing to the growth of the market, as patients from neighboring countries are traveling to Central Asia for treatment.In conclusion, the Anti-Rheumatic Drugs market in Central Asia is growing due to the increasing demand for effective and affordable treatment options for rheumatoid arthritis and other related conditions. The market is also being influenced by trends such as the use of biologic drugs and biosimilars, as well as local special circumstances such as the high prevalence of these conditions in the region and limited access to drugs. Finally, underlying macroeconomic factors such as healthcare spending and government policies are also driving the growth of 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.