Anti-Rheumatic Drugs - Iraq

Iraq

The Anti-Rheumatic Drugs market in Iraq is set to witness a significant growth, with projected revenue reaching US$31.10m by 2024.
This growth is anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 0.96%.
As a result, the market volume is expected to reach US$32.62m by 2029.
In the global landscape, United States is poised to generate the highest revenue in the Anti-Rheumatic Drugs market, with a staggering US$34,700.00m forecasted for 2024.
Iraq's demand for anti-rheumatic drugs is growing due to the increasing prevalence of rheumatic diseases in the country.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Iraq has been growing steadily in recent years.

Customer preferences: Patients in Iraq prefer Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) over disease-modifying antirheumatic drugs (DMARDs) due to the high cost and lack of availability of DMARDs. Additionally, traditional medicine is still widely used in Iraq, which affects the demand for Anti-Rheumatic Drugs.

Trends in the market: The Anti-Rheumatic Drugs market in Iraq is expected to grow due to the increasing prevalence of rheumatoid arthritis and other autoimmune diseases. The market is also expected to benefit from the growing awareness of the benefits of early diagnosis and treatment of these conditions. Moreover, the government's efforts to improve healthcare infrastructure and increase access to healthcare services are expected to drive growth in the market.

Local special circumstances: The ongoing political instability and security concerns in Iraq have had a negative impact on the healthcare sector, including the Anti-Rheumatic Drugs market. The lack of investment in healthcare infrastructure and the shortage of skilled healthcare professionals have also hindered the growth of the market. Moreover, the high cost of imported drugs has made them unaffordable for many Iraqis.

Underlying macroeconomic factors: The Iraqi economy heavily relies on oil exports, and the recent decline in oil prices has had a significant impact on the country's economy. The economic downturn has led to a decrease in government spending on healthcare, which has affected the availability and affordability of Anti-Rheumatic Drugs in the country. Additionally, the ongoing conflict in the region has disrupted supply chains and made it difficult to import drugs into the country.

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.