Key regions: Germany, United States, India, Japan, United Kingdom
Belgium, a country known for its medieval towns, chocolate, and waffles, has a growing Anti-Rheumatic Drugs market.
Customer preferences: Belgium has a high prevalence of rheumatoid arthritis, which is a key driver of the Anti-Rheumatic Drugs market. Patients with rheumatoid arthritis prefer biologic drugs due to their effectiveness in managing the disease. However, the high cost of these drugs has led to a preference for biosimilars, which are cheaper alternatives to biologics.
Trends in the market: The Anti-Rheumatic Drugs market in Belgium is witnessing a shift towards biosimilars due to their cost-effectiveness. The Belgian government has introduced policies to encourage the use of biosimilars, which has led to an increase in their adoption. Additionally, the market is witnessing an increase in the use of combination therapies, which involve the use of two or more drugs to manage rheumatoid arthritis.
Local special circumstances: Belgium has a well-established healthcare system that provides universal coverage to its citizens. The healthcare system is funded through a combination of social security contributions and taxes. The government plays a significant role in regulating the healthcare system, which has led to the introduction of policies to encourage the use of biosimilars.
Underlying macroeconomic factors: Belgium has a stable economy and a high standard of living, which has led to an increase in healthcare spending. The government has allocated a significant portion of its budget towards healthcare, which has led to an increase in the availability of healthcare services. Additionally, Belgium has a highly educated population, which has led to an increase in awareness about rheumatoid arthritis and the available treatment options.In conclusion, the Anti-Rheumatic Drugs market in Belgium is witnessing a shift towards biosimilars due to their cost-effectiveness. The government's policies to encourage the use of biosimilars have led to an increase in their adoption. Additionally, the use of combination therapies is increasing in the market. Belgium's well-established healthcare system and stable economy have contributed to the growth of the Anti-Rheumatic Drugs market.
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.
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