Anti-Rheumatic Drugs - Ireland | Statista Market Forecast

In Ireland, the revenue in the Anti-Rheumatic Drugs market is expected to reach US$59.16m in 2024.
Looking ahead, the market is projected to grow at an annual growth rate (CAGR 2024-2029) of 0.33%.
This will result in a market volume of US$60.14m by 2029.
When compared globally, it is noteworthy that United States will generate the majority of revenue in this market.
In 2024, United States is expected to generate US$34.70bn in revenue.
Ireland's pharmaceutical industry is experiencing a rising demand for innovative anti-rheumatic drugs, driving significant research and development activities 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 Ireland has been displaying some interesting trends in recent years.

Customer preferences: Patients in Ireland who suffer from rheumatoid arthritis, ankylosing spondylitis, and other related conditions, are increasingly opting for biologic drugs. This is because these drugs have been found to be more effective in managing symptoms and preventing joint damage as compared to traditional disease-modifying anti-rheumatic drugs (DMARDs). Patients are also showing a preference for self-administered biologics, which allow them to take the medication in the comfort of their own homes.

Trends in the market: The Anti-Rheumatic Drugs market in Ireland has been witnessing a shift towards biologics and biosimilars. According to recent reports, the sales of biologics have been growing at a faster rate than those of traditional DMARDs. This trend is expected to continue as more biologics and biosimilars are introduced into the market. Another trend that has been observed is the increasing use of combination therapies, where two or more drugs are used together to manage symptoms. This approach has been found to be more effective in many cases as compared to using a single drug.

Local special circumstances: One of the factors driving the growth of the Anti-Rheumatic Drugs market in Ireland is the high prevalence of rheumatoid arthritis and related conditions. According to the Irish Society for Rheumatology, around 40,000 people in Ireland suffer from rheumatoid arthritis, making it the most common inflammatory arthritis in the country. This high prevalence has led to a greater demand for effective treatments, which has in turn contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Anti-Rheumatic Drugs market in Ireland is also being driven by the overall growth of the healthcare sector in the country. The Irish government has been investing heavily in the healthcare sector in recent years, and this has led to the development of new treatment options and the expansion of existing facilities. Another factor contributing to the growth of the market is the aging population in Ireland. As people age, they are more likely to develop conditions such as rheumatoid arthritis, which has led to an increase in demand for anti-rheumatic drugs.

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.