Key regions: Germany, United States, India, Japan, United Kingdom
The Anti-Rheumatic Drugs market in South America has seen steady growth in recent years.
Customer preferences: Patients suffering from rheumatic diseases in South America have shown a preference for biologic drugs over traditional disease-modifying anti-rheumatic drugs (DMARDs). This is due to the perception that biologics are more effective in managing symptoms and have fewer side effects.
Trends in the market: Brazil is the largest market for anti-rheumatic drugs in South America, accounting for a significant portion of the region's sales. The market in Brazil is expected to continue growing due to the increasing prevalence of rheumatic diseases and the government's efforts to improve access to healthcare. Other countries in the region, such as Argentina and Chile, are also seeing growth in the anti-rheumatic drugs market, albeit at a slower pace. The increasing availability of biosimilars is expected to drive down prices and increase competition in the market.
Local special circumstances: In Brazil, the government has implemented several programs to improve access to healthcare, including the provision of free medication for certain chronic diseases. This has helped to increase demand for anti-rheumatic drugs in the country. In Argentina, the economic crisis has led to a devaluation of the currency, making imported drugs more expensive. This has resulted in a shift towards locally produced drugs, which are more affordable.
Underlying macroeconomic factors: The prevalence of rheumatic diseases in South America is increasing due to factors such as an aging population and changes in lifestyle. Economic growth in the region has also resulted in an increase in healthcare spending, which has contributed to the growth of the anti-rheumatic drugs market. However, the high cost of biologics remains a barrier to access for many patients, particularly in countries with weaker economies.
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.
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