Brazil Anti-Rheumatic Drug Market Forecasts Report 2022: A $2.83 Billion Market by 2027 - Aging Populations Driving Demand
Dublin, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The "Brazil Anti-Rheumatic Drug Market - Forecasts from 2022 to 2027" report has been added to * ResearchAndMarkets.com's* offering.
The Brazilian anti-rheumatic drugs market was valued at US$2,400.050 million in 2020. The market is projected to grow at a CAGR of 2.41% to attain a value of US$2,836.140 million by 2027.
The growing ageing population in Brazil is the major factor that is driving the demand for antirheumatic drugs in the country. The recovery of the Brazilian economy can be witnessed by increasing purchasing power and a corresponding shift towards a fast-food diet, leading to rising cases of obesity and diabetes in the country.
According to the World Health Organization (WHO), the prevalence of diabetes has increased steadily since 1980, with 7.4% of males and 8.8% of females suffering from diabetes in Brazil. Moreover, half of the Brazilian population is overweight, while 20% are obese. As such, the number of cases of arthritis is increasing in the country, thereby driving the market growth of antirheumatic drugs.
The rise in the sales of generic drugs in Brazil owing to the Generic Medicines Policy passed in 1999 by the Brazilian government is another factor that is boosting the growth of the country's antirheumatic drug market. Since many Brazilians still cannot afford medications, the development of low-cost generic drugs is helping to expand access to more underserved populations.
Furthermore, the Brazilian Institute of Geography and Statistics estimated that the senior population of Brazil will surpass its young population over the next two decades, which further drives the need for a variety of affordable medicines for age-related diseases in order to maintain the overall healthcare expenditure.
The Brazilian Antirheumatic Drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis, rheumatoid arthritis, gout, lupus, and others. By type of molecule, the Brazilian antirheumatic drugs market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).
*Key Developments in the Market:*
In April 2022, South Korean-based Cellitron announced that it has won a tender from Brazilian Federal Government for purchasing Infliximab biosimilar, Remsima. Infliximab is used to treat multiple conditions related to rheumatic conditions, including psoriatic arthritis and rheumatic conditions, among many others.
According to the firm, this winning bid was a significant milestone, widening the patient's access to affordable and effective biosimilar drugs in countries like Mexico and Brazil, the two largest pharmaceutical markets in South America.
*COVID-19 Insights:*
COVID-19 had a significant impact on the Brazilian antirheumatic drugs market. The growing prevalence of arthritis-related conditions among all ages of the population has augmented the demand for the drugs.
However, mandated lockdown and social distancing measures enforced in Brazil led to the closure of multiple production facilities and witnessed low staffing, reducing productivity. The travel restrictions also affected the exports and imports of the market, creating a gap in the supply and demand chain. Similar factors had slowed down the market's growth.
*Key Metrics*
*Report Attribute* *Details*
No. of Pages 76
Forecast Period 2020 - 2027
Estimated Market Value (USD) in 2020 $2400.05 million
Forecasted Market Value (USD) by 2027 $2836.14 million
Compound Annual Growth Rate 2.4%
Regions Covered Brazil
*Companies Mentioned*
· AbbVie Inc.
· Amget Inc.
· Johnson and Johnson
· Pfizer Inc.
· GlaxoSmithKline plc
· Merck & Co., Inc.
· Eli Lilly and Company
· Novartis AG
· Celgene Corporation (Bristol-Myers Squibb)
· Eisai Co., Ltd.
*Segmentation*
*By Type of Disease*
· Osteoarthritis
· Rheumatoid Arthritis
· Gout
· Lupus
*By Drug Class*
· Disease-modifying Anti-Rheumatic Drugs (DMARDs)
· Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
· Corticosteroids
· JAK inhibitor
*By Sales Channel*
· Prescription
· Over-The-Counter (OTC)
For more information about this report visit https://www.researchandmarkets.com/r/synwac
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*Attachment*
· Brazilian Anti-Rheumatic Drug Market
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