Anti-Rheumatic Drugs - Vietnam

Vietnam

The Anti-Rheumatic Drugs market in Vietnam is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$52.56m , making it a lucrative market within the country.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 1.74% from 2024 to 2029.
This growth trajectory is predicted to result in a market volume of US$57.29m by 2029.
When comparing the global market, United States is expected to generate the highest revenue in the Anti-Rheumatic Drugs market.
In 2024 alone, United States is projected to generate a staggering US$34,700.00m , solidifying its dominance in the global market.
Vietnam's demand for anti-rheumatic drugs is increasing due to the rising prevalence of rheumatic diseases in the aging population.

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

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Analyst Opinion

The Anti-Rheumatic Drugs market in Vietnam has been experiencing steady growth in recent years.

Customer preferences: Vietnam has a high prevalence of rheumatoid arthritis, which has led to an increasing demand for anti-rheumatic drugs. Patients are also becoming more aware of the benefits of early diagnosis and treatment, leading to a higher demand for these drugs.

Trends in the market: The Anti-Rheumatic Drugs market in Vietnam has been growing steadily due to the increasing prevalence of rheumatoid arthritis in the country. The market is expected to continue growing as the population ages and the incidence of rheumatoid arthritis increases. Additionally, the market has seen an increase in the availability of biologic drugs, which are becoming more popular among patients due to their effectiveness.

Local special circumstances: Vietnam has a large population of older adults, who are at a higher risk of developing rheumatoid arthritis. Additionally, the country has a large number of people living with disabilities, many of whom suffer from rheumatoid arthritis. This has led to an increasing demand for anti-rheumatic drugs in the country.

Underlying macroeconomic factors: Vietnam's healthcare sector has been growing rapidly in recent years, with the government increasing investment in healthcare infrastructure and services. This has led to an improvement in healthcare access and quality, which has in turn increased demand for anti-rheumatic drugs. Additionally, Vietnam's economy has been growing steadily, leading to an increase in disposable income and healthcare spending. This has also contributed to the growth of the Anti-Rheumatic Drugs market in the country.

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.