Key regions: Australia, Germany, United Kingdom, United States, France
Belgium, a country known for its chocolates, waffles, and exquisite beers, has a rapidly growing market for immunosuppressants.
Customer preferences: The growing prevalence of autoimmune diseases and organ transplantations has led to an increase in demand for immunosuppressants in Belgium. Patients with autoimmune diseases like rheumatoid arthritis, lupus, and multiple sclerosis require immunosuppressants to prevent their immune system from attacking their own body. Similarly, patients undergoing organ transplantation require immunosuppressants to prevent their immune system from rejecting the transplanted organ.
Trends in the market: The immunosuppressants market in Belgium is witnessing a shift towards biologic drugs. Biologic drugs are derived from living cells and are more targeted in their approach. They are preferred over traditional immunosuppressants as they have fewer side effects and are more effective in treating autoimmune diseases. The market is also witnessing an increase in the number of biosimilars, which are cheaper versions of biologic drugs. The availability of biosimilars is expected to increase the affordability of biologic drugs, thereby increasing their adoption.
Local special circumstances: Belgium has a well-established healthcare system that provides universal healthcare coverage to its citizens. The government regulates drug prices, which has led to a decrease in the prices of immunosuppressants. The country also has a high penetration of generic drugs, which has further increased the affordability of immunosuppressants.
Underlying macroeconomic factors: Belgium has a high life expectancy and an aging population. The prevalence of autoimmune diseases increases with age, which has led to an increase in the demand for immunosuppressants. The country also has a high rate of organ donation, which has led to an increase in the number of organ transplantations. Additionally, the country has a high per capita income, which has increased the affordability of immunosuppressants.
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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