Anti-Rheumatic Drugs - Australia

Australia

In Australia, the Anti-Rheumatic Drugs market is anticipated to witness a substantial growth in revenue, with projections estimating it to reach €0.24bn in 2024.
The market is expected to display a steady annual growth rate (CAGR 2024-2029) of 0.82%, leading to a market volume of €0.25bn by 2029.
When compared globally, United States is predicted to generate the highest revenue in the Anti-Rheumatic Drugs market, with an impressive figure of €31,850.00m in 2024.
Australia is experiencing a growing demand for biologic anti-rheumatic drugs due to an aging population and increasing prevalence of rheumatic diseases.

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

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Analyst Opinion

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

Customer preferences: Patients suffering from rheumatoid arthritis and other autoimmune diseases are increasingly seeking out more effective treatments that can help them manage their symptoms and improve their quality of life. As a result, there is a growing demand for anti-rheumatic drugs that can provide relief from pain, inflammation, and other symptoms associated with these conditions.

Trends in the market: One of the key trends in the Anti-Rheumatic Drugs market in Australia is the increasing popularity of biologic drugs. These drugs are designed to target specific molecules in the immune system that are responsible for causing inflammation and other symptoms of rheumatoid arthritis. Biologics are generally more effective than traditional disease-modifying anti-rheumatic drugs (DMARDs) and have fewer side effects. As a result, they are becoming the preferred treatment option for many patients.Another trend in the market is the growing use of combination therapy. Many patients are now being treated with a combination of biologic and non-biologic drugs in order to achieve better outcomes. This approach has been shown to be particularly effective in patients who have not responded well to biologic monotherapy.

Local special circumstances: One of the unique features of the Anti-Rheumatic Drugs market in Australia is the country's Pharmaceutical Benefits Scheme (PBS). The PBS is a government-funded program that subsidizes the cost of prescription medications for all Australian citizens. This program has helped to make anti-rheumatic drugs more affordable and accessible to patients, which has contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Anti-Rheumatic Drugs market in Australia can be attributed to several underlying macroeconomic factors. These include the country's aging population, which is more susceptible to rheumatoid arthritis and other autoimmune diseases. In addition, the increasing prevalence of these conditions worldwide has led to a growing demand for effective treatments. Finally, advances in medical research and technology have led to the development of new and more effective anti-rheumatic drugs, which has further fueled 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.