Anti-Rheumatic Drugs - Western Africa

Western Africa

The market for Anti-Rheumatic Drugs market in Western Africa is expected to witness significant growth in the coming years.
By 2024, revenue in this market is projected to reach a substantial amount of US$63.78m.
Furthermore, it is anticipated that the revenue will continue to grow at a steady pace, with an annual growth rate (CAGR 2024-2029) of 2.25%.
This growth trajectory is expected to result in a market volume of US$71.28m by the end of 2029.
In global comparison, it is worth noting that United States is projected to generate the highest revenue in this market.
In 2024 alone, the revenue United States is expected to reach a staggering amount of US$34,700.00m.
In Western Africa, there is a growing demand for affordable and accessible anti-rheumatic drugs to address the rising prevalence of rheumatic diseases in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Rheumatic Drugs market in Western Africa has been experiencing significant growth in recent years.

Customer preferences: There has been a growing demand for Anti-Rheumatic Drugs in Western Africa due to the increasing prevalence of rheumatic diseases in the region. Patients suffering from rheumatic diseases such as rheumatoid arthritis, lupus, and osteoarthritis are seeking effective treatment options.

Trends in the market: The Anti-Rheumatic Drugs market in Western Africa has been witnessing a shift towards biologic drugs. Biologic drugs offer more targeted treatment options and have fewer side effects compared to traditional disease-modifying anti-rheumatic drugs (DMARDs). However, biologic drugs are expensive and are not easily accessible to all patients in the region. As a result, there has been a growing demand for more affordable biosimilar drugs.

Local special circumstances: The lack of healthcare infrastructure and resources in Western Africa has been a major challenge for the Anti-Rheumatic Drugs market. The region has a shortage of healthcare professionals and limited access to healthcare facilities. This has resulted in poor diagnosis rates and limited access to treatment options for patients suffering from rheumatic diseases.

Underlying macroeconomic factors: The economic growth in Western Africa has been a major driver of the Anti-Rheumatic Drugs market. The region has been experiencing a steady increase in GDP, which has led to an increase in healthcare spending. Governments in the region have been investing in healthcare infrastructure and resources to improve access to healthcare for their citizens. This has created opportunities for pharmaceutical companies to expand their operations in the region and offer more treatment options for patients suffering from rheumatic diseases.

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.