Anti-Rheumatic Drugs - Lithuania

Lithuania

The Anti-Rheumatic Drugs market in Lithuania is expected to witness a significant growth in revenue, projected to reach US$9.36m by the year 2024.
This growth is anticipated to continue with an annual growth rate of 0.92% from 2024 to 2029, resulting in a market volume of US$9.80m by the end of 2029.
When compared globally, United States is expected to generate the highest revenue in the Anti-Rheumatic Drugs market, with an estimated revenue of US$34,700.00m in 2024.
Lithuania is experiencing a growing demand for innovative anti-rheumatic drugs, driven by an aging population and an increasing prevalence of rheumatic diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Rheumatic Drugs market in Lithuania has been experiencing steady growth in recent years.

Customer preferences: Lithuanian customers have been showing an increased preference for Anti-Rheumatic Drugs due to the rising prevalence of rheumatic diseases in the country. Additionally, the aging population in Lithuania has also contributed to the growth of the market, as older individuals are more likely to develop rheumatic conditions.

Trends in the market: The Anti-Rheumatic Drugs market in Lithuania has seen a trend towards the use of biologic drugs, which are more effective in treating rheumatic diseases than traditional drugs. This trend is in line with the global market, which has also seen a shift towards biologics. However, due to the high cost of biologics, the Lithuanian government has been implementing cost-containment measures, which may slow down the growth of the market.

Local special circumstances: One of the unique factors affecting the Anti-Rheumatic Drugs market in Lithuania is the country's healthcare system. While healthcare in Lithuania is publicly funded, patients are required to pay out-of-pocket for a portion of their medication costs. This has led to some patients opting for cheaper, less effective drugs, which may impact the growth of the market for more expensive biologics.

Underlying macroeconomic factors: The Lithuanian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has contributed to the growth of the Anti-Rheumatic Drugs market in the country. Additionally, the Lithuanian government has been implementing policies to improve access to healthcare, which may also contribute to the growth of the market. However, the recent COVID-19 pandemic may impact the growth of the market, as healthcare spending may be redirected towards pandemic response efforts.

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.