Anti-Rheumatic Drugs - Guinea | Statista Market Forecast

The Anti-Rheumatic Drugs market in Guinea is expected to witness significant growth in the coming years.
According to projections, the revenue of this market is projected to reach US$1.49m in 2024.
Furthermore, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 1.08% from 2024 to 2029, resulting in a market volume of US$1.57m by 2029.
When compared globally, it is noteworthy that United States is anticipated to generate the highest revenue in this market, with an estimated value of US$34.70bn in 2024.
This showcases the significant market potential and economic importance of the Anti-Rheumatic Drugs market in Guinea.
Guinea has seen a surge in demand for anti-rheumatic drugs due to the increasing prevalence of rheumatic diseases in the country.

Definition:
The market Anti-Rheumatic Drugs includes medication for the treatment of the inflammatory disease rheumatism. Due to the high prevalence of rheumatism and the large size of the market, this section of immune diseases is treated as a separate market. Both steroidal and non-steroidal anti-rheumatics are included. Disease-modifying rheumatic drugs (DMARDs), such as tumor necrosis factor inhibitors (a type of biologic DMARD), are particularly important in terms of commerciality.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: AbbVie, Johnson & Johnson, Pfizer, Amgen, Roche

Drugs to treat rheumatism
Steroidal (corticosteroids) and non-steroidal anti-rheumatics
Disease-modifying antirheumatic drugs (DMARDs)
Tumor necrosis factor (TNF) inhibitors

Drugs to treat other autoimmune diseases (such as multiple sclerosis or psoriasis)
Analgetics for general use (such as paracetamol)
Treatment of osteoarthritis

The Anti-Rheumatic Drugs market in Guinea has seen a steady growth in recent years.

Customer preferences: Patients in Guinea suffering from rheumatoid arthritis have shown a preference for biologic drugs due to their effectiveness in treating the disease. Biologics such as TNF inhibitors and interleukin inhibitors have proven to be more effective in reducing inflammation and slowing down the progression of the disease. However, due to their high cost, many patients are unable to afford them.

Trends in the market: The market for Anti-Rheumatic Drugs in Guinea has been growing due to an increase in the prevalence of rheumatoid arthritis in the country. The disease affects a significant proportion of the population, and the demand for effective treatments has been on the rise. The market has also seen a shift towards biologic drugs, which are more effective in treating the disease. However, the high cost of these drugs has limited their availability to a small section of the population.

Local special circumstances: Guinea is a low-income country, and the cost of healthcare is a significant barrier for many patients. The government has limited resources to invest in healthcare, and the burden of healthcare falls largely on the patients themselves. Many patients are unable to afford the high cost of biologic drugs, and this has limited their access to effective treatments.

Underlying macroeconomic factors: The economy of Guinea has been growing steadily in recent years, but it remains one of the poorest countries in the world. The country has a high burden of disease, and the healthcare system is underfunded and poorly equipped. The government has limited resources to invest in healthcare, and this has resulted in a lack of access to essential medicines for many patients. The high cost of biologic drugs has also limited their availability in the country. Despite these challenges, the market for Anti-Rheumatic Drugs in Guinea is expected to continue to grow in the coming years, driven by an increase in the prevalence of rheumatoid arthritis and a growing demand for effective treatments.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.