Israel Antirheumatic Drug Market Size study, by Type of Disease (Osteoarthritis, Rheumatoid Arthritis, Gout, Lupus), by Drug Class (DMARDs, NSAIDs, Corticosteroids, JAK Inhibitor), by Sales Channel (Prescription, Over the Counter), and Forecasts 2022-2032

Israel Antirheumatic Drug Market Size study, by Type of Disease (Osteoarthritis, Rheumatoid Arthritis, Gout, Lupus), by Drug Class (DMARDs, NSAIDs, Corticosteroids, JAK Inhibitor), by Sales Channel (Prescription, Over the Counter), and Forecasts 2022-2032

The Israel Antirheumatic Drug Market is valued approximately at USD 285.56 million in 2023 and is anticipated to grow with a healthy growth rate of more than 2.5% over the forecast period 2024-2032. The market was initially valued at USD 272.657 million in 2020 and projected to grow at a CAGR of 2.03%, attaining USD 313.567 million by 2027. This growth trajectory reflects increasing private healthcare spending in Israel, which drives the demand for treatments, medical services, and advanced medications.

According to data from the Israel Central Bureau of Statistics, private healthcare spending reached 40%, indicating a heightened demand for superior healthcare services and advanced treatments. The Israeli government's provision of universal healthcare, accounting for over 7% of the country’s GDP, further bolsters the healthcare sector. This robust healthcare infrastructure is complemented by a growing geriatric population, which increased from 10.147% in 2008 to approximately 11.997% in 2018, driving the demand for antirheumatic drugs.

The market segmentation encompasses types of diseases, types of molecules, and sales channels. The types of diseases include osteoarthritis, rheumatoid arthritis, gout, and lupus. On the basis of the type of molecule, the market is divided into pharmaceuticals and biopharmaceuticals. The sales channel segmentation includes prescription-based and over-the-counter (OTC) drugs.

Recent developments in the market highlight significant advancements. In February 2020, Can-Fite, an Israel-based biopharmaceutical firm, announced substantial progress in its Phase III ACRobatTM trial for Piclidenoson, aimed at treating rheumatoid arthritis. The independent data monitoring committee (IDMC) oversees the trial's interim analysis, underscoring the ongoing innovation in the sector.

The COVID-19 pandemic significantly impacted Israel's antirheumatic drug market. The rising prevalence of rheumatic disorders among adolescents and adults spurred drug demand. However, lockdowns, social distancing measures, and industrial facility closures disrupted productivity and supply chains, slightly slowing the market.

Major market players included in this report are:
• Teva Pharmaceutical Industries Ltd.
• Can-Fite BioPharma Ltd.
• Pfizer Inc.
• AbbVie Inc.
• Johnson & Johnson
• Roche Holding AG
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Novartis AG
• Amgen Inc.
• Merck & Co., Inc.
• Sanofi S.A.
• GlaxoSmithKline plc
• AstraZeneca PLC
• UCB S.A.

The detailed segments and sub-segment of the market are explained below:

By Type of Disease
• Osteoarthritis
• Rheumatoid Arthritis
• Gout
• Lupus

By Drug Class
• Disease-modifying Anti-Rheumatic Drugs (DMARDs)
• Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
• Corticosteroids
• JAK Inhibitor

By Sales Channel
• Prescription
• Over-The-Counter (OTC)

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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