Anti-Rheumatic Drugs - South Korea

The Anti-Rheumatic Drugs market in South Korea is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$332.70m.
This growth is further expected to continue with an annual growth rate (CAGR 2024-2029) of 1.26%, resulting in a market volume of US$354.20m by 2029.
In global comparison, United States is anticipated to generate the highest revenue in the Anti-Rheumatic Drugs market, with an estimated revenue of US$34.70bn in 2024.
In South Korea, there is a growing demand for innovative and personalized anti-rheumatic drugs to cater to the diverse needs of the population.

Definition:
The market Anti-Rheumatic Drugs includes medication for the treatment of the inflammatory disease rheumatism. Due to the high prevalence of rheumatism and the large size of the market, this section of immune diseases is treated as a separate market. Both steroidal and non-steroidal anti-rheumatics are included. Disease-modifying rheumatic drugs (DMARDs), such as tumor necrosis factor inhibitors (a type of biologic DMARD), are particularly important in terms of commerciality.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: AbbVie, Johnson & Johnson, Pfizer, Amgen, Roche

Drugs to treat rheumatism
Steroidal (corticosteroids) and non-steroidal anti-rheumatics
Disease-modifying antirheumatic drugs (DMARDs)
Tumor necrosis factor (TNF) inhibitors

Drugs to treat other autoimmune diseases (such as multiple sclerosis or psoriasis)
Analgetics for general use (such as paracetamol)
Treatment of osteoarthritis

The Anti-Rheumatic Drugs market in South Korea has been experiencing significant growth in recent years.

Customer preferences: South Korean customers have been showing a growing interest in Anti-Rheumatic Drugs due to the increasing prevalence of rheumatoid arthritis in the country. Additionally, the aging population has also contributed to the growth of the market as older individuals are more susceptible to developing rheumatoid arthritis.

Trends in the market: One of the major trends in the Anti-Rheumatic Drugs market in South Korea is the increasing use of biologic drugs. Biologic drugs have been gaining popularity due to their effectiveness in treating rheumatoid arthritis and other autoimmune diseases. Additionally, the market has been witnessing the introduction of new drugs with improved efficacy and safety profiles.

Local special circumstances: South Korea has a well-developed healthcare system with a high level of government support. The government has been actively promoting the use of generic drugs to reduce healthcare costs. This has led to an increase in the use of generic Anti-Rheumatic Drugs in the country.

Underlying macroeconomic factors: The South Korean economy has been growing steadily in recent years, which has led to an increase in healthcare spending. Additionally, the country has a high level of healthcare infrastructure and a well-educated population, which has contributed to the growth of the Anti-Rheumatic Drugs market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.