Anti-Rheumatic Drugs - South Africa

South Africa

The Anti-Rheumatic Drugs market in South Africa is forecasted to achieve a revenue of US$82.10m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 0.18%, leading to a market volume of US$82.83m by 2029.
When compared globally, United States is projected to generate the most revenue in this market, with an estimated value of US$34,700.00m in 2024.
Despite the rising prevalence of rheumatic diseases in South Africa, access to affordable anti-rheumatic drugs remains a challenge for many patients.

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

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Analyst Opinion

The Anti-Rheumatic Drugs market in South Africa has been steadily growing over the past few years.

Customer preferences: Patients suffering from rheumatoid arthritis and other autoimmune diseases are the primary customers for anti-rheumatic drugs. These customers are looking for drugs that can effectively manage their symptoms and improve their quality of life. They prefer drugs that have minimal side effects and are affordable.

Trends in the market: The market for anti-rheumatic drugs in South Africa is being driven by the increasing prevalence of autoimmune diseases in the country. The aging population is also contributing to the growth of the market as the incidence of these diseases increases with age. The market is dominated by biologic drugs, which are more effective than traditional disease-modifying anti-rheumatic drugs (DMARDs). However, biosimilars are gaining popularity due to their lower cost.

Local special circumstances: One of the major challenges in the South African market is the high cost of biologic drugs, which are often not covered by medical aids. This makes them unaffordable for many patients. As a result, biosimilars are becoming increasingly popular as they are more affordable. The South African government is also taking steps to improve access to these drugs by negotiating lower prices with manufacturers.

Underlying macroeconomic factors: The South African economy has been struggling in recent years, with high unemployment and low economic growth. This has had an impact on the healthcare sector, with many patients struggling to afford the high cost of healthcare. However, the government is committed to improving access to healthcare, and this is likely to drive growth in the anti-rheumatic drugs market. The increasing prevalence of autoimmune diseases is also likely to drive growth in the market.

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.