Anti-Rheumatic Drugs - GCC

The Anti-Rheumatic Drugs market in GCC is anticipated to witness a significant increase in revenue, with projections indicating it will reach US$237.90m by 2024.
Furthermore, experts expect the market to experience a steady annual growth rate (CAGR 2024-2029) of 0.80%, leading to a market volume of US$247.60m by 2029.
When compared to other countries worldwide, United States is projected to generate the highest revenue in this market, with an estimated amount of US$34,700.00m in 2024.
The demand for anti-rheumatic drugs in the GCC region is steadily increasing due to the rising prevalence of rheumatic diseases among the population.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in the GCC region has been steadily increasing over the past few years.

Customer preferences: The GCC region has a high prevalence of rheumatic diseases, which has resulted in a high demand for Anti-Rheumatic Drugs. Patients in the region prefer effective medications that provide quick relief from pain and inflammation. They also prefer medications that have minimal side effects and are affordable.

Trends in the market: The Anti-Rheumatic Drugs market in the GCC region is witnessing a shift towards biologic drugs. Biologic drugs are more effective in treating rheumatic diseases and have fewer side effects compared to traditional disease-modifying antirheumatic drugs (DMARDs). The market is also witnessing an increasing demand for biosimilars, which are cheaper alternatives to biologic drugs. The rise in healthcare spending and the growing awareness of rheumatic diseases are some of the other trends in the market.

Local special circumstances: The GCC region has a high prevalence of rheumatic diseases, which is attributed to the region's genetic makeup, lifestyle, and environmental factors. The region has a high prevalence of consanguineous marriages, which increases the risk of genetic disorders. The hot and dry climate of the region can also trigger rheumatic diseases. The region's sedentary lifestyle and unhealthy eating habits also contribute to the high prevalence of rheumatic diseases.

Underlying macroeconomic factors: The GCC region has a high healthcare expenditure, which is expected to drive the growth of the Anti-Rheumatic Drugs market in the region. The region's growing population and increasing life expectancy are also contributing to the growth of the market. The region's economic diversification and the growing demand for pharmaceuticals are some of the other macroeconomic factors driving the growth of the market.In conclusion, the Anti-Rheumatic Drugs market in the GCC region is witnessing a shift towards biologic drugs and biosimilars. The high prevalence of rheumatic diseases, the region's sedentary lifestyle and unhealthy eating habits, and the hot and dry climate of the region are some of the local special circumstances driving the growth of the market. The region's high healthcare expenditure, growing population, increasing life expectancy, and economic diversification are some of the underlying macroeconomic factors 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.