Anti-Rheumatic Drugs - Turkey

Turkey

Turkey is expected to experience significant growth in the Anti-Rheumatic Drugs market.
By 2024, the projected revenue for this market in Turkey is US$47.31m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 0.44%, leading to a market volume of US$48.36m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Anti-Rheumatic Drugs market, with an estimated revenue of US$34,700.00m in 2024.
However, Turkey's market potential should not be overlooked, as it shows promising growth in this sector.
Turkey's growing healthcare sector has seen a surge in demand for innovative anti-rheumatic drugs, paving the way for advanced treatment options in the country.

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

Market

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Turkey has been on a steady rise in recent years, with a growing number of patients seeking treatment for rheumatoid arthritis and other related conditions.

Customer preferences: Patients in Turkey tend to prefer traditional non-steroidal anti-inflammatory drugs (NSAIDs) over biologic drugs due to their lower cost and wider availability. However, there has been a shift towards biologic drugs in recent years, particularly among patients who do not respond well to traditional treatments.

Trends in the market: The Turkish government has been increasing its investment in healthcare, which has led to the expansion of healthcare facilities and an increase in the number of healthcare professionals. This has contributed to the growth of the Anti-Rheumatic Drugs market in Turkey, as more patients are able to access treatment.

Local special circumstances: Turkey has a high prevalence of rheumatoid arthritis, which is a major driver of demand for Anti-Rheumatic Drugs. In addition, the country has a relatively young population, which is more likely to develop rheumatoid arthritis and related conditions.

Underlying macroeconomic factors: The Turkish economy has been growing steadily in recent years, which has led to an increase in disposable income and a greater ability to pay for healthcare. This has contributed to the growth of the Anti-Rheumatic Drugs market in Turkey, as more patients are able to afford treatment. However, the country has also faced economic challenges in recent years, which may impact the growth of the market in the future.

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.