Anti-Rheumatic Drugs - Papua New Guinea

The revenue in Papua New Guinea's Anti-Rheumatic Drugs market is projected to reach US$1.45m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -0.03%, resulting in a market volume of US$1.45m by 2029.
In global comparison, United States will generate the most revenue, with US$34.70bn in 2024.
Papua New Guinea has seen an increasing demand for affordable anti-rheumatic drugs due to the rising prevalence of rheumatic diseases 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

Anti-Rheumatic Drugs have been gaining popularity in Papua New Guinea as a result of the increasing prevalence of rheumatoid arthritis and other autoimmune disorders.

Customer preferences: Patients in Papua New Guinea are increasingly seeking out Anti-Rheumatic Drugs due to the debilitating nature of rheumatoid arthritis and other autoimmune disorders. These patients are looking for drugs that can alleviate their symptoms and improve their quality of life. Additionally, physicians in the country are prescribing these drugs more frequently due to their effectiveness in treating these conditions.

Trends in the market: The Anti-Rheumatic Drugs market in Papua New Guinea has been growing steadily due to the increasing prevalence of rheumatoid arthritis and other autoimmune disorders. As the population ages and lifestyles change, the incidence of these conditions is expected to continue to rise. This will drive demand for Anti-Rheumatic Drugs and lead to further growth in the market. Additionally, the availability of new drugs and treatments is expected to further drive growth in the market.

Local special circumstances: Papua New Guinea is a developing country with a relatively low level of healthcare infrastructure. This presents challenges for the Anti-Rheumatic Drugs market, as patients may have difficulty accessing treatment due to a lack of healthcare facilities and trained medical professionals. Additionally, the cost of these drugs may be prohibitive for some patients, further limiting access to treatment.

Underlying macroeconomic factors: The growth of the Anti-Rheumatic Drugs market in Papua New Guinea is driven by several underlying macroeconomic factors. These include the increasing prevalence of rheumatoid arthritis and other autoimmune disorders, as well as the availability of new drugs and treatments. Additionally, the country's growing population and changing lifestyles are contributing to the growth of the market. However, challenges related to healthcare infrastructure and affordability may limit the growth potential of the market in the coming years.

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.