Anti-Rheumatic Drugs - Ghana

Ghana

The Anti-Rheumatic Drugs market in Ghana is projected to reach a revenue of US$5.23m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 0.90%, leading to a market volume of US$5.47m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue in this market, with a projected amount of US$34,700.00m in 2024.
Ghana's demand for anti-rheumatic drugs is increasing due to rising prevalence of rheumatoid arthritis in the country.

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

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Analyst Opinion

The market for Anti-Rheumatic drugs in Ghana has been developing at a steady pace over the past few years.

Customer preferences: The demand for Anti-Rheumatic drugs in Ghana has been increasing due to the rise in the number of patients suffering from rheumatoid arthritis. Patients are becoming more aware of the benefits of early diagnosis and treatment, which has led to an increase in demand for Anti-Rheumatic drugs.

Trends in the market: The market for Anti-Rheumatic drugs in Ghana is expected to grow at a significant rate in the coming years. This growth can be attributed to the rise in the number of rheumatoid arthritis patients, the increasing awareness of the benefits of early diagnosis and treatment, and the availability of new and innovative drugs.

Local special circumstances: Ghana has a high prevalence of rheumatoid arthritis, with an estimated 1% of the population affected. This has led to an increase in demand for Anti-Rheumatic drugs. However, the market is still relatively small compared to other countries due to the low level of awareness about rheumatoid arthritis and the lack of access to healthcare in some areas.

Underlying macroeconomic factors: The Ghanaian economy has been growing steadily over the past few years, which has led to an increase in the disposable income of the population. This has resulted in an increase in demand for healthcare services, including Anti-Rheumatic drugs. Additionally, the government has been investing in the healthcare sector, which has led to an improvement in healthcare infrastructure and services.

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.