Israel antirheumatic drugs market was valued at US$143.570 million in 2019. The market in Israel is poised to show decent growth over the course of the next five years due to rapid growth in the private healthcare spending of the country which is further anticipated to drive the demand for numerous treatments, medical services, and medicines among others. According to data by the Israel Central Bureau of Statistics, the proportion of private spending reached 40%, thus indicating a rise in the demand for better healthcare services, which would also lead to an increase in the demands more advanced treatments and testing procedures which is anticipated to positively impact the growth of the market throughout the forecast period. Furthermore, universal healthcare is provided by the Israeli government to the entire population of the country and also spends more than 7% of the country’s GDP on healthcare.
Additionally, the continuously growing geriatric population in the country is also one of the key drivers for the antirheumatic drugs market growth in Israel during the next five years. The geriatric population of the country reached around 11.997% by the year 2018 from 10.147% during the year 2008. Old people suffer from various types of diseases that include chronic back pain, joint pains, and other inflammatory disorders which is anticipated to significantly drive the demand for numerous types of drugs in the country and further add up to the market growth.
Israel 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).