Anti-Rheumatic Drugs - Nordics

Nordics

The Anti-Rheumatic Drugs market in the Nordics is anticipated to achieve a significant revenue of US$0.34bn by the year 2024.
Furthermore, this market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 0.00%, ultimately leading to a market volume of US$0.34bn by 2029.
In terms of global comparison, United States will generate the highest revenue, amounting to US$34,700.00m in 2024.
In the Nordics, there is a growing trend towards the use of biologic anti-rheumatic drugs for the treatment of rheumatoid arthritis.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Rheumatic Drugs market in Nordics has been experiencing significant growth in recent years.

Customer preferences: Patients in the Nordics have a strong preference for biological drugs over traditional disease-modifying antirheumatic drugs (DMARDs). This is due to the higher efficacy of biological drugs in treating rheumatoid arthritis and other autoimmune diseases.

Trends in the market: The Nordics have seen a rise in the use of biosimilars, which are less expensive versions of biological drugs. This is due to the increasing pressure from healthcare authorities to reduce costs and increase access to treatment. Additionally, there has been a shift towards personalized medicine, with the use of genetic testing to determine the most effective treatment for individual patients.

Local special circumstances: The Nordics have a well-developed healthcare system that provides universal access to healthcare. This has led to a high demand for rheumatology services, which has in turn contributed to the growth of the Anti-Rheumatic Drugs market. Additionally, the Nordics have a high prevalence of rheumatoid arthritis, which has further driven demand for these drugs.

Underlying macroeconomic factors: The Nordics have a strong economy, with high levels of government spending on healthcare. This has allowed for the development of a well-funded healthcare system and the availability of advanced medical technologies. Additionally, the Nordics have a high level of healthcare literacy among their population, which has contributed to the demand for effective treatments for autoimmune diseases.

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.