Germany antirheumatic drugs market as valued at US$1,382.401 million in 2019. The antirheumatic drug market in Germany is projected to show a nominal growth over the course of the next five years due to the growing geriatric population along with the presence of a well-established healthcare sector in the country. The booming healthcare expenditure in the country is also bolstering the anti-rheumatic drug market growth in the country throughout the forecast period. As per the data from the Federal Statistical Office (Destatis), in 2018 the healthcare expenditure in Germany reached 387.7 billion euros with an increase of 3.1% from the previous year. Furthermore, the country is also a well-known location for pharma companies in the field of research for medicines related to various chronic diseases, which is also anticipated to positively impact the market growth in the coming years.
Moreover, the growing geriatric population also plays a crucial role in driving the market growth in Germany owing to the fact that old people are more susceptible to various rheumatic diseases. According to the data from the World Bank Group, the percentage of geriatric population in the country reached to 21.642% by 2018 from 20.024% in 2008. Furthermore, the high consumption of generic drugs in the country owing to cheaper costs associated with these types of drugs further acts as a contributing factor for the market to grow in the coming years. For instance, according to the reports from the German Trade and Invest, the share of generic medicines in Germany reached 77% in volume terms during the year 2015 and was projected to grow in the coming years, thereby providing an impetus for the market to grow in the coming years.
Germany antirheumatic drugs 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 on the basis of osteoarthritis, rheumatoid arthritis, gout, lupus, and others.By the type of molecule, the market has been segmented on the basis of pharmaceuticals and biopharmaceuticals. By the sales channel, the segmentation has been done on the basis of prescription and over-the-counter (OTC).