Anti-Rheumatic Drugs - Africa

Africa

The Anti-Rheumatic Drugs market in Africa is expected to experience significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach €0.27bn.
This positive trend is expected to continue, with an annual growth rate (CAGR 2024-2029) of 0.73%.
As a result, the market volume is projected to reach €0.28bn by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Anti-Rheumatic Drugs market.
In 2024, the revenue generated United States alone is projected to be €31,850.00m.
This highlights the significant contribution of the United States to the global market in this market.
In 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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Africa has been on the rise in the past few years due to several factors.

Customer preferences: In Africa, the majority of the population is affected by rheumatoid arthritis, which has led to an increased demand for Anti-Rheumatic Drugs. Patients are now more aware of the importance of early diagnosis and treatment, leading to an increase in demand for these drugs.

Trends in the market: The Anti-Rheumatic Drugs market in Africa is growing at a steady pace. The market is witnessing a shift towards biologic drugs, which are more effective in treating rheumatoid arthritis. The market is also witnessing a trend towards combination therapy, where two or more drugs are used together to treat rheumatoid arthritis.

Local special circumstances: The lack of awareness about rheumatoid arthritis and its treatment options in some African countries is hindering the growth of the Anti-Rheumatic Drugs market. Moreover, the high cost of biologic drugs is a major challenge for many patients who cannot afford them.

Underlying macroeconomic factors: The economic growth in some African countries has led to an increase in healthcare spending and the availability of healthcare facilities. This has led to an increase in the diagnosis and treatment of rheumatoid arthritis, leading to an increase in demand for Anti-Rheumatic Drugs. However, the lack of healthcare infrastructure in some African countries is a major challenge for the growth of the Anti-Rheumatic Drugs market.In conclusion, the Anti-Rheumatic Drugs market in Africa is witnessing a steady growth due to the increase in awareness about rheumatoid arthritis and the availability of healthcare facilities. However, the high cost of biologic drugs and the lack of healthcare infrastructure in some African countries are hindering the growth of the market.

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.