Key regions: Germany, United States, India, Japan, United Kingdom
The Anti-Rheumatic Drugs market in NAFTA has been experiencing a steady growth in recent years.
Customer preferences: The increasing prevalence of rheumatoid arthritis and other autoimmune diseases has led to a rise in demand for anti-rheumatic drugs in the NAFTA region. Patients are also seeking more effective and convenient treatment options, which has led to a shift towards biologic drugs over traditional disease-modifying antirheumatic drugs (DMARDs).
Trends in the market: The United States dominates the Anti-Rheumatic Drugs market in NAFTA, accounting for the majority of the region's revenue. However, Mexico is expected to experience the highest growth rate in the market due to an aging population and increasing healthcare expenditure. Biologic drugs are also expected to continue their dominance in the market, with newer drugs such as JAK inhibitors and biosimilars gaining traction.
Local special circumstances: In Canada, the government's strict drug pricing regulations have led to slower market growth compared to the US and Mexico. However, the recent implementation of the Biosimilar Initiative is expected to increase the use of biosimilars and reduce healthcare costs. In Mexico, the availability of biosimilars has been limited due to regulatory hurdles, but recent regulatory changes are expected to increase their availability and usage.
Underlying macroeconomic factors: The increasing prevalence of autoimmune diseases, particularly in an aging population, is a key driver of the Anti-Rheumatic Drugs market in NAFTA. The rising healthcare expenditure and increasing demand for effective treatment options are also contributing to the market's growth. The ongoing COVID-19 pandemic has had a mixed impact on the market, with disruptions in supply chains and reduced patient visits to healthcare facilities leading to a temporary slowdown in market growth. However, the pandemic has also highlighted the importance of managing autoimmune diseases, which is expected to contribute to the market's long-term growth.
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.
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