Asia Pacific Anti-rheumatic Market Forecast 2020-2028
The Asia Pacific anti-rheumatics market is estimated to record a CAGR of 2.38% during the forecast period of 2020-2028. A surge in healthcare expenditure, and the rise in awareness related to the use of anti-rheumatics, are boosting the growth of the market in the region.
The Asia Pacific anti-rheumatics market is further surveyed on the basis of the markets situated in countries such as Indonesia, Japan, China, India, Australia & New Zealand, Vietnam, Thailand, and the rest of Asia Pacific. In South Korea, the prevalence of RA increased annually from 0.28% in 2009 to 0.32% in 2012, according to the NCBI data. The surging prevalence of RA is driving market growth. In countries like Thailand, the market is anticipated to grow at a moderate rate. The prevalence of the medical condition is less as compared to other countries.
In Indonesia, the IRA was established in 1972 in Solo, Central Java, due to the increasing number of rheumatic patients. In August 1982, IRA introduced the first rheumatology course in Indonesia, and has been a pioneer for the development of rheumatology theory, education, research, and practice in Indonesia. DMARDs therapy is expected to modify the continuation of the disease. In Latin America, the market is in its emerging stage, owing to low buying power, inadequate health expenditure, lack of advanced healthcare facilities, and insufficient health coverage in the region. In Brazil, the healthcare system constitutes a large public component, a small paid health insurance, and the patients pay personally for medical services, which hinder the market growth. In Argentine, the prevalence of the disease in the QOM community is among the highest in the world. An increase in the burden of RA in the region is leading to a rise in demand for quicker healthcare services, thereby propelling the market growth.
Abbott Laboratories, Eli Lilly and Company, Bio-Rad Laboratories Inc, Becton, Dickinson, and Company, Lupin Ltd, etc. are some of the well-established companies operating in the region.
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