Immunosuppressants - Sri Lanka

Sri Lanka

Highlights

The Immunosuppressants market in Sri Lanka is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach a staggering US$7.53m by the year 2024.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 12.68% between 2024 and 2029, resulting in a market volume of approximately US$13.67m by the end of 2029.
When compared to other countries globally, United States is expected to generate the highest revenue in the Immunosuppressants market.
It is estimated that the revenue United States will reach an astonishing US$35.47bn by 2024.
The demand for immunosuppressants in Sri Lanka has been steadily increasing due to the rising prevalence of organ transplantation surgeries in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Immunosuppressants in Sri Lanka has been on the rise in recent years.

Customer preferences: Patients in Sri Lanka suffering from autoimmune diseases such as lupus, rheumatoid arthritis, and psoriasis require immunosuppressants to manage their conditions. Additionally, patients who have undergone organ transplants also require these medications to prevent their immune systems from rejecting the transplanted organs.

Trends in the market: The immunosuppressants market in Sri Lanka is growing due to the increasing prevalence of autoimmune diseases and the rising number of organ transplants. The market is dominated by branded drugs, but there has been an increase in the availability of generic versions of these medications. This has led to increased competition and lower prices, making the drugs more accessible to patients.

Local special circumstances: One of the major challenges in the Sri Lankan market is the lack of awareness and education about autoimmune diseases and the importance of immunosuppressants in managing them. This has led to a delay in diagnosis and treatment, which can have serious consequences for patients. Additionally, there are limited resources for organ transplants in the country, which means that patients often have to travel abroad for these procedures.

Underlying macroeconomic factors: Sri Lanka's healthcare system is still developing, and there are significant disparities in access to healthcare between urban and rural areas. The government has made efforts to improve the healthcare system, but there are still challenges in terms of funding and infrastructure. The country's economy has also been affected by political instability and natural disasters in recent years, which has had an impact on the healthcare sector. Despite these challenges, the immunosuppressants market in Sri Lanka is expected to continue growing as the government invests in healthcare and the population becomes more aware of the importance of managing autoimmune diseases.

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.