Anti-Rheumatic Drugs - Egypt

Egypt

In Egypt, the revenue of the Anti-Rheumatic Drugs market is forecasted to reach US$30.89m in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 2.82%, leading to a market volume of US$35.49m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, with US$34,700.00m in 2024.
Egypt's anti-rheumatic drug market is experiencing a surge in demand due to the country's aging population and increasing prevalence of rheumatic diseases.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Egypt has been on the rise in recent years.

Customer preferences: Egypt has a population of over 100 million people, with a significant proportion being elderly citizens. This demographic is more susceptible to rheumatic diseases, which has led to an increase in demand for Anti-Rheumatic Drugs. Additionally, the high prevalence of obesity and sedentary lifestyles has contributed to the rise in rheumatic diseases among the population.

Trends in the market: The Egyptian government has been investing heavily in healthcare infrastructure, which has improved access to healthcare services across the country. This has led to an increase in the number of patients being diagnosed with rheumatic diseases and subsequently, an increase in the demand for Anti-Rheumatic Drugs. Furthermore, the availability of generic drugs in the market has made treatment more affordable for patients.

Local special circumstances: Egypt has a large pharmaceutical industry, with many local manufacturers producing generic Anti-Rheumatic Drugs. This has led to increased competition in the market, resulting in lower prices for consumers. However, the quality of these drugs has been a concern for patients, leading to a preference for branded drugs.

Underlying macroeconomic factors: The Egyptian economy has been growing steadily in recent years, with a focus on diversifying the economy beyond oil and gas. This has led to increased investment in the healthcare sector, which has benefited the Anti-Rheumatic Drugs market. However, the COVID-19 pandemic has had a significant impact on the economy, leading to a decrease in disposable income for many Egyptians. This has resulted in a shift towards more affordable generic drugs, impacting the sales of branded 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.