France’s antirheumatic drugs market was valued at US$5,459.428 million in 2020. The market is projected to grow at a CAGR of 3.34% to attain a value of US$6,870.348 million by the year 2027. The antirheumatic drugs market in France is anticipated to witness significant growth owing to the high government support and poised to grow on account of the high government support in the country. The majority of the health expenditure in the country is government-funded, which further enables the citizens to afford costly treatments and medicines, which is also one of the key factors bolstering the market growth in the country. On account of growing concerns regarding the burden of rising out-of-pocket expenditure, particularly among people without any complementary health insurance, around 79% of total health expenditure is funded by the government.
Furthermore, the growing geriatric population is also one of the prime factors driving the demand for these drugs, as people in old age are more inclined toward these types of diseases. The government funding regarding healthcare also provides support to the elderly to pay for costly medicines and treatments, thus positively impacting the market growth during the next five years. The population aged 65 and above reached 13,418,612 by 2018 from 10,623,736 in 2008.
France’s antirheumatic drug market has been segmented on the basis of the type of disease, type of molecule, and sales channel. On the basis of the type of disease, the market has been classified into osteoarthritis, rheumatoid arthritis, gout, lupus, and others. The market has been segmented based on molecule type; the market has been segmented based on pharmaceuticals and biopharmaceuticals. By the sales channel, the segmentation has been done on the basis of prescription and over-the-counter (OTC).
Key Developments in the Market:
COVID-19 Insights:
COVID-19 had a significant impact on the French antirheumatic drugs market. The increasing prevalence of arthritis patients led to increased drug demand in France. However, mandated lockdown and social distancing measures enforced in France 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. The aforementioned factors slowed down the market's growth.
Segmentation