Anti-Rheumatic Drugs - Sierra Leone

Sierra Leone

Sierra Leone is expected to witness a significant growth in revenue within the Anti-Rheumatic Drugs market.
By 2024, the projected revenue is estimated to reach US$1.33m.
This would be followed by an annual growth rate of 0.74% (CAGR 2024-2029), resulting in a market volume of US$1.38m by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue, with an estimated amount of US$34,700.00m in 2024.
Sierra Leone's market for anti-rheumatic drugs is growing steadily, driven by an increasing prevalence of rheumatic diseases in the country.

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

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Analyst Opinion

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

Customer preferences: Sierra Leoneans are increasingly becoming aware of the importance of early diagnosis and treatment of rheumatoid arthritis, which is driving the demand for anti-rheumatic drugs. Patients are also seeking more effective and safer treatment options that can help manage the symptoms of the disease and improve their quality of life.

Trends in the market: The market for anti-rheumatic drugs in Sierra Leone is expected to grow steadily over the next few years due to an increase in the prevalence of rheumatoid arthritis. The introduction of new drugs with better efficacy and safety profiles is also expected to fuel market growth. However, the high cost of these drugs may limit their uptake in the country.

Local special circumstances: Sierra Leone is a low-income country with limited healthcare infrastructure and resources. The country has a high burden of infectious diseases, which has historically led to a neglect of chronic non-communicable diseases like rheumatoid arthritis. However, there is a growing recognition of the need to address the burden of non-communicable diseases in the country.

Underlying macroeconomic factors: The Sierra Leonean economy has been recovering from the effects of the Ebola outbreak in 2014-2015, which severely impacted the country's healthcare system. The government has been investing in healthcare infrastructure and expanding access to essential medicines, including anti-rheumatic drugs. However, the country still faces significant challenges in terms of healthcare access and affordability, which may limit the uptake of these drugs.

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.