Anti-Rheumatic Drugs - Peru

Peru

Peru's Anti-Rheumatic Drugs market is expected to witness a promising growth trajectory in the coming years.
By 2024, the projected revenue is estimated to reach US$30.04m, displaying a positive outlook for the market.
This growth is further anticipated to continue with an annual growth rate (CAGR 2024-2029) of 0.70%.
Consequently, the market volume is projected to reach US$31.11m by 2029.
When compared globally, it is noteworthy that United States is set to dominate the revenue generation in the Anti-Rheumatic Drugs market.
In 2024, United States is expected to generate a substantial revenue of US$34,700.00m, further highlighting its significance in the global market.
Peru faces a growing demand for biologic anti-rheumatic drugs due to an increasing prevalence of rheumatic diseases in the country.

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

Market

Region

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Currency

Analyst Opinion

The demand for Anti-Rheumatic Drugs in Peru has been steadily increasing over the past few years, driven by several factors.

Customer preferences: Peruvian customers have shown a growing preference for Anti-Rheumatic Drugs due to the rising incidence of rheumatoid arthritis and other autoimmune diseases. Additionally, the availability of a wide range of affordable generic drugs has also contributed to the growth of the market.

Trends in the market: One of the major trends in the Peruvian Anti-Rheumatic Drugs market is the increasing use of biologic drugs. Biologics have gained popularity due to their efficacy in treating autoimmune diseases and their ability to target specific areas of the immune system. Another trend is the growing use of combination therapy, where two or more drugs are used together to achieve better outcomes.

Local special circumstances: Peru has a high prevalence of rheumatoid arthritis, which is a key driver of demand for Anti-Rheumatic Drugs. Additionally, the Peruvian government has implemented policies to increase access to healthcare, which has led to an increase in the number of patients seeking treatment for rheumatic diseases.

Underlying macroeconomic factors: The Peruvian economy has been growing steadily over the past few years, which has led to an increase in disposable income and healthcare spending. Additionally, Peru has a large population of aging individuals, who are more susceptible to rheumatic diseases. These factors have contributed to the growth of the Anti-Rheumatic Drugs market in Peru.

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.