The Spain antirheumatic drug market is expected to grow at a compound annual growth rate of 2.12% over the forecast period to reach a market size of US$4,011.904 million in 2028, from US$3,463.331 million in 2021.
Anti-rheumatic drugs are substances that are administered to treat rheumatoid arthritis, among other diseases like gout, lupus, osteoarthritis, and so on. The market in the region is expected to see growth due to the growing geriatric population along with the presence of a fair share of pharmaceutical companies in the region.
Growth factors:
The anti-rheumatic drugs market in Spain is expected to be considerably driven due to the prevalence of rheumatic diseases in the region.
Rise in rheumatoid arthritis in Spain is expected to drive the market growth of the anti-rheumatic drug market. Rheumatoid arthritis is considered one of the most common types of autoimmune arthritis. It is a chronic inflammatory disorder that not only affects the joints but is also capable of damaging a wide variety of body systems. According to a study published in the Journal of Rheumatology, the prevalence of rheumatic diseases in Spain is around 18.9%, which is higher than the European average.
The rising old-age population in the country is expected to be one of the key factors contributing to the market growth in the region.
Over the past few years, there has been an increase in the geriatric population of Spain. The rising aging population is boosting the demand for these drugs as the demographic shift towards an older population is putting a higher burden on various age-associated diseases worldwide. Factors such as increased life expectancy and declining fertility are the key factors behind the growing aging population. As per the United Nations Population Division, the geriatric population in Spain, 65 years of age or older, grew from a population size of 9,31 8,013 to 9,437,101 from 2020 to 2021. Since aged people are the most susceptible to suffering from these diseases, the demand for rheumatic drugs is growing significantly, thus positively impacting the growth of the anti-rheumatic drug market.
Key development:
Anti-rheumatic drugs are medications that are used in the treatment of autoimmune conditions such as rheumatoid arthritis, and psoriatic arthritis for decreasing inflammation, and pain and preventing joint damage Besides rheumatoid arthritis, anti-rheumatic drugs are further used in the treatment of other autoimmune diseases such as lupus where the immune system attacks the healthier cells and organs of the body, thereby causing inflammation in joints, kidneys, heart, and lungs.
Substantial investment by Spain towards drugs and healthcare is thus expected to drive growth for DMARDs as well.
Based on drug class, the Spain anti-rheumatic drug market is segmented into disease-modifying anti-rheumatic drugs (DMARDs), nonsteroidal anti-inflammatory drugs (NSAIDs), corticosteroids, JAK inhibitors, and others. DMARDs are used for the treatment of chronic diseases like rheumatoid arthritis and psoriatic arthritis. These types of anti-rheumatic drugs target the underlying clinical condition instead of targeting the actual symptoms. Adding to this, the vast investments by healthcare companies in drugs are expected to further boost the market growth. According to data published by the Ministry of Health of Spain, in December 2022, EUR 90.3 billion was allocated towards public health with EUR 12.8 billion out of that allocated towards prescription drugs.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$3,463.331 million |
| Market Size Value in 2028 | US$4,011.904 million |
| Growth Rate | CAGR of 2.12% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Type Of Disease, Drug Class, and Sales Channel |
| Companies Covered | AbbVie Inc., Amget Inc., Johnson and Johnson, Pfizer Inc., GlaxoSmithKline plc, Merck & Co., Inc., Eli Lilly and Company, Novartis AG, Celgene Corporation (Bristol-Myers Squibb) |
| Customization Scope | Free report customization with purchase |
Market Segmentation: