Japan antirheumatic drugs market was valued at US$1,353.154 million in 2019. The market growth is majorly being driven by the continuously increasing elderly population in this country. According to the World Bank Group data, the percentage of the total population, age 65 and above, has increased from 16.98% in 2000 to 27.58% in 2018 in this country. The state-of-the-art healthcare system in this country is contributing to this growing number, which, as a result, is increasing the burden of diseases among this age group. According to data from the OECD, the country’s aging population will continue to exert pressure on public spending on health, while spending on long-term care has continued to remain strong. Since the onset of rheumatoid arthritis is more likely to happen in this age group, and even if this happens earlier, symptoms usually begin to surface during this age, the rising geriatric population in Japan will continue to drive with it the cases of rheumatoid arthritis, thus boosting the market growth of antirheumatic drugs in the country.
Furthermore, since Japan is one of the most developed economies in the world, the affordability of healthcare services among people is already high. Although people tend to follow a healthy lifestyle, in order to shield themselves from diseases that are chronic in nature, the incidence of rheumatoid arthritis in this country is significantly high. A high incidence of this disease is driving with it the consumption of anti-rheumatic drugs among people affected by it, thus propelling the market growth. However, increasing awareness among people regarding the efficacy and safety of generic drugs in this country is steering some of them towards these drugs. As these drugs cost a fraction of what the branded drugs cost, the market size of anti-rheumatic drugs is witnessing some slump. Yet, we expect good market growth for these drugs over the forecast period.
Japan 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, Japan 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).