Anti-Rheumatic Drugs - Thailand

Thailand

The Anti-Rheumatic Drugs market in Thailand is expected to witness a significant growth in the coming years.
By 2024, the projected revenue is estimated to reach €43.42m.
This suggests a positive outlook for the market in Thailand.
Furthermore, the market is anticipated to showcase a Compound Annual Growth Rate (CAGR) of 1.15% between 2024 and 2029.
This steady growth is expected to result in a market volume of €45.97m by 2029.
When compared to other countries globally, United States is predicted to generate the highest revenue in the Anti-Rheumatic Drugs market.
In 2024, United States is forecasted to generate a revenue of €32,180.00m.
This highlights the dominant position of the United States in the global market for Anti-Rheumatic Drugs market.
Thailand's growing healthcare industry is driving demand for innovative anti-rheumatic drugs, offering opportunities for pharmaceutical companies to expand their presence in the market.

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

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Analyst Opinion

The demand for Anti-Rheumatic Drugs in Thailand has been on the rise in recent years.

Customer preferences: The increase in demand for Anti-Rheumatic Drugs in Thailand can be attributed to the growing elderly population in the country. As people age, they become more prone to rheumatic diseases, which has led to a surge in demand for these drugs. Additionally, there has been a growing awareness among the Thai population about the importance of early diagnosis and treatment of rheumatic diseases, which has further fueled the demand for these drugs.

Trends in the market: One of the key trends in the Anti-Rheumatic Drugs market in Thailand is the shift towards biologic drugs. Biologic drugs are increasingly becoming popular due to their effectiveness in treating rheumatic diseases. These drugs are designed to target specific parts of the immune system, which makes them more effective than traditional drugs. Moreover, biologic drugs have fewer side effects than traditional drugs, which has made them more appealing to patients.

Local special circumstances: Thailand has a well-established pharmaceutical industry, which has made it easier for pharmaceutical companies to introduce new drugs into the market. Additionally, the Thai government has been actively promoting the use of generic drugs, which has made it easier for patients to access affordable drugs. This has also led to increased competition among pharmaceutical companies, which has resulted in lower prices for Anti-Rheumatic Drugs.

Underlying macroeconomic factors: Thailand has a rapidly aging population, which has led to an increase in demand for healthcare services, including Anti-Rheumatic Drugs. Moreover, the Thai government has been investing heavily in healthcare infrastructure, which has made it easier for people to access healthcare services. Additionally, the country has a growing middle class, which has led to increased spending on healthcare services. These factors have contributed to the growth of the Anti-Rheumatic Drugs market in Thailand.

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.