The demand for Anti-Rheumatic Drugs in Hungary has been on a steady rise in recent years.
Customer preferences: Hungary has an aging population, with a high prevalence of rheumatoid arthritis and other autoimmune diseases. This has led to an increased demand for Anti-Rheumatic Drugs, as these are the primary treatment options for such conditions. Patients in Hungary prefer to use biologic drugs, which are more effective in managing symptoms and preventing joint damage. This has led to a shift in the market from traditional disease-modifying antirheumatic drugs (DMARDs) to biologic drugs.
Trends in the market: The Anti-Rheumatic Drugs market in Hungary has been growing at a steady pace, driven by the increasing prevalence of rheumatoid arthritis and other autoimmune diseases. The market has witnessed a shift towards biologic drugs, which are more effective in managing symptoms and preventing joint damage. The market is also witnessing the entry of new drugs, which are more targeted and have fewer side effects. Biosimilars are also gaining popularity in Hungary, as they are cheaper alternatives to biologic drugs.
Local special circumstances: The Hungarian government has implemented measures to control healthcare spending, which has impacted the Anti-Rheumatic Drugs market. The government has set price caps on drugs, which has led to a decrease in prices. This has made it difficult for pharmaceutical companies to maintain profit margins, leading to a decrease in investment in research and development. The government has also introduced a tender system for drug procurement, which has led to increased competition among pharmaceutical companies.
Underlying macroeconomic factors: The Hungarian economy has been growing at a steady pace, with a focus on export-oriented industries. This has led to an increase in disposable income, which has enabled patients to afford expensive biologic drugs. However, the healthcare system in Hungary is still underfunded, which has led to a lack of access to healthcare services in rural areas. The government has implemented measures to address this, such as increasing funding for healthcare and improving access to healthcare services in rural areas.
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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