Anti-Rheumatic Drugs - Taiwan

Taiwan

In Taiwan, the revenue in the Anti-Rheumatic Drugs market is estimated to reach US$98.94m in 2024.
It is projected that the market will experience a steady annual growth rate of 0.61% during the period of 2024-2029, leading to a market volume of US$102.00m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$34,700.00m in 2024.
Taiwan's demand for anti-rheumatic drugs has surged due to an aging population and increasing prevalence of rheumatic diseases.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Taiwan has been growing steadily in recent years.

Customer preferences: Taiwan has an aging population, with a high prevalence of rheumatoid arthritis (RA) among the elderly. This has led to a high demand for Anti-Rheumatic Drugs as a treatment option. Patients in Taiwan tend to prefer biologics over traditional disease-modifying antirheumatic drugs (DMARDs) due to their efficacy and faster onset of action. However, the high cost of biologics has led to a growing interest in biosimilars, which offer a more affordable alternative.

Trends in the market: The Anti-Rheumatic Drugs market in Taiwan has been growing at a moderate pace, driven by an increase in the prevalence of rheumatoid arthritis and the introduction of new drugs. Biologics continue to dominate the market, with a growing number of biosimilars entering the market. In addition, there is a trend towards combination therapy, where biologics are used in combination with DMARDs to achieve better outcomes.

Local special circumstances: Taiwan has a well-established healthcare system, with a strong emphasis on universal healthcare coverage. This has led to a high level of access to healthcare services and medications, including Anti-Rheumatic Drugs. In addition, the government has implemented a number of policies to encourage the use of biosimilars, which has helped to drive down the cost of treatment for patients.

Underlying macroeconomic factors: Taiwan has a stable economy with a high level of healthcare expenditure. The government has made significant investments in healthcare infrastructure and research, which has helped to drive innovation in the pharmaceutical industry. In addition, Taiwan has a strong manufacturing base, which has enabled the country to become a major player in the production of biosimilars. These factors have contributed to the growth of the Anti-Rheumatic Drugs market in Taiwan.

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.