Anti-Rheumatic Drugs - Slovakia

Slovakia

In Slovakia, the revenue in the Anti-Rheumatic Drugs market is estimated to reach US$17.32m by 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 0.42%, leading to a market volume of US$17.69m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$34,700.00m in 2024.
Slovakia is witnessing a growing demand for biologic anti-rheumatic drugs, with increasing emphasis on personalized treatment plans.

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

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Analyst Opinion

The Anti-Rheumatic Drugs market in Slovakia has been showing a steady growth in recent years.

Customer preferences: Patients suffering from rheumatoid arthritis and other autoimmune diseases are the primary customers of Anti-Rheumatic Drugs in Slovakia. These drugs are prescribed by rheumatologists and general practitioners. The preference for these drugs is due to their efficacy in reducing inflammation and pain associated with these diseases.

Trends in the market: The Anti-Rheumatic Drugs market in Slovakia has been growing due to the increasing prevalence of autoimmune diseases. The aging population is also a contributing factor to the growth of this market. Patients are opting for biologic drugs due to their higher efficacy and lower side effects compared to traditional disease-modifying antirheumatic drugs (DMARDs). However, the high cost of biologics is a major constraint for patients and the healthcare system.

Local special circumstances: Slovakia has a universal healthcare system, which covers the cost of Anti-Rheumatic Drugs for eligible patients. However, the reimbursement system for biologics is complex and varies based on the type of drug and the patient's condition. This has resulted in unequal access to biologics for patients across the country.

Underlying macroeconomic factors: The Slovakian economy has been growing steadily in recent years, which has resulted in increased healthcare spending. The government has been investing in the healthcare system to improve access and quality of care. However, the high cost of biologics is a challenge for the healthcare system and patients. The government is exploring various options to reduce the cost of biologics, including biosimilars and international price referencing.

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.