Spain antirheumatic drug market was valued at US$800.242 million in 2019. Spain is the 14th largest economy in the world and the 5th in the European Union, even after years of economic recession Spain marked the third straight year of at least 3% of GDP growth becoming one of the fastest-growing economies in the European Union and recently country is developed into one of the top players in the European pharmaceutical industry. The pharmaceutical industry has been increasing its investment commitment in the market and taking advantage of the country's public healthcare system. The increase in the per capita government health spending in the country is also significantly driving the market growth throughout the forecast period. The government/compulsory health spending in Spain reached US$2,341.4 by 2018 from US$1,957.2 in 2008 (Source: Organisation for Economic Co-operation and Development) as the increasing government support further enables the citizens to afford numerous treatments and avail various medical services, thus positively impacting the demand for antirheumatic drugs in the country.
Furthermore, with the rise in the geriatric population, the market is continuing to grow at a significant pace in order to treat the diseases related to old age. As per the World Bank estimates, the geriatric population in Spain, 65 years of age or older grew from a population size of 8,660,491 to a population size of 9,054,365 from 2015 to 2018.
Spain 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).
Eli Lilly and Company
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