Anti-Rheumatic Drugs - Nepal

Nepal

In Nepal, the revenue in the Anti-Rheumatic Drugs market is predicted to reach US$4.61m in 2024.
It is anticipated that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 1.56%, leading to a market volume of US$4.98m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$34,700.00m in 2024.
Nepal's growing demand for affordable anti-rheumatic drugs is driving local pharmaceutical companies to innovate and expand their product offerings.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Nepal has been on the rise in recent years.

Customer preferences: Patients with rheumatoid arthritis and other rheumatic diseases in Nepal have been increasingly seeking medical attention and treatment. With the growing awareness of the benefits of early diagnosis and treatment, patients are more likely to seek medical help at an earlier stage of the disease. As a result, the demand for anti-rheumatic drugs has been increasing.

Trends in the market: The Nepalese market for anti-rheumatic drugs has been growing at a steady pace. The market is dominated by multinational pharmaceutical companies that offer a wide range of products. In recent years, there has been a trend towards the use of biologic drugs, which are more effective in treating rheumatic diseases. These drugs are expensive, but the increasing affordability of medical care in Nepal has made them more accessible to patients.

Local special circumstances: Nepal is a developing country with a relatively low GDP per capita. Despite this, the country has made significant progress in improving access to healthcare in recent years. The government has been investing in healthcare infrastructure and increasing funding for medical research. Additionally, there has been a growing trend towards medical tourism in Nepal, with patients from neighboring countries seeking treatment in Nepalese hospitals.

Underlying macroeconomic factors: The Nepalese economy has been growing at a steady pace in recent years. The country has a young and growing population, which is expected to drive demand for healthcare services in the coming years. Additionally, the government has been implementing policies to promote foreign investment and economic growth. These factors are likely to contribute to the continued growth of the anti-rheumatic drugs market in Nepal.

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.