The Middle East and Africa (MEA) anti-rheumatic drug market was valued at US$3,774.467 million in 2020. The market is projected to grow at a CAGR of 1.96% to attain a value of US$4,562.505 million by 2027. The market in the Middle East and Africa region is poised to show healthy growth throughout the forecast period, primarily on account of the presence of a well-established and state-of-the-art pharmaceutical industry in the region. The presence of a vast number of domestic pharmaceutical manufacturing companies is also considered to be a major factor driving the growth of the antirheumatic drug market in the Middle East and Africa region during the next five years. Furthermore, the governments of various Gulf countries are increasingly focusing on the development of a non-oil economy and increasing investments in other key areas. This, in turn, is projected to propel the opportunities for the market to grow in the near future as an increase in investments in R&D across the pharmaceutical sector of the region is anticipated in the coming years. Furthermore, the increasing focus of the government on enhancing healthcare services for the well-being of the growing population is further leading to the timely delivery of medical equipment and a constant supply of medicines, which is anticipated to be a major factor for the promising growth of the pharmaceutical sector of this region.
Moreover, the presence of well-established healthcare facilities in many developed countries in the region, coupled with the higher purchasing power of their people, further increases the demand for costly medical treatments and services, which is expected to positively drive the market growth in the region during the next five years. Additionally, a promising demographic shift and an increase in the life expectancy rate have significantly increased the geriatric population of the Middle East and Africa region. This, in turn, is expected to significantly drive the demand for various drugs for the treatment of various age-associated diseases that include inflammatory disorders, chronic backaches, and joint pains, among others, and further positively impact the market growth.
COVID-19 SCENARIO
The COVID-19 Pandemic has an adverse impact on the market for antirheumatic drugs in MEA. Many COVID-19 cases have been seen in Asian countries such as India, which has altered the healthcare sector's focus to COVID-19 patients. Non-COVID patients had less access to hospitals. As a result, there was a decline in rheumatic diagnoses, resulting in lower demand for antirheumatic drugs in the region. As a result, market growth has been slower than planned. Because of the loss of health insurance coverage, fewer hospital visits, and reduced diagnostic rates, the product is selling well. During the lockdown, a few procedures are considered urgent, but many have been rescheduled. COVID-19 had a negative influence on the rheumatic illnesses sector because of the widespread postponement as hospital visits plummeted and the drugs were also not available as when required.
KEY DEVELOPMENT
The Middle East and Africa (MEA) 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). On the basis of country, the segmentation has been done on the basis of Saudi Arabia, Israel, Nigeria, Ethiopia, Egypt, Iran, Turkey, and South Africa.
Segmentation