Pharmaceuticals - Algeria

Algeria

The Pharmaceuticals market in Algeria is expected to achieve a revenue of US$1,006.00m in 2024.
Among the various markets, the largest one is Oncology Drugs, which is projected to have a market volume of US$174.30m in 2024.
Over the period from 2024 to 2029, the revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.20%, resulting in a market volume of US$1,236.00m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, amounting to US$630.30bn in 2024.
Algeria's pharmaceutical market is experiencing a surge in demand for generic drugs due to government efforts to reduce healthcare costs.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

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Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Algeria has been experiencing significant growth in recent years.

Customer preferences: Algerian consumers have been showing a growing preference for locally produced pharmaceuticals, as they tend to be more affordable than imported brands. This trend has been driven by the government's efforts to increase domestic production and reduce reliance on imports. Additionally, there is a growing demand for generic drugs, which are seen as more cost-effective alternatives to branded medications.

Trends in the market: One of the key trends in the Algerian Pharmaceuticals market is the increasing focus on research and development. Local companies are investing heavily in R&D to develop new drugs and improve existing ones, in order to meet the growing demand for high-quality pharmaceuticals. Another trend is the increasing adoption of digital technologies, such as telemedicine and e-prescriptions, which are helping to improve access to healthcare services in remote areas.

Local special circumstances: Algeria has a large and growing population, which is driving demand for healthcare services and pharmaceuticals. However, the country's healthcare infrastructure is still relatively underdeveloped, particularly in rural areas. This has created opportunities for companies to invest in the development of healthcare facilities and services, as well as the production and distribution of pharmaceuticals.

Underlying macroeconomic factors: Algeria's economy has been growing steadily in recent years, driven by strong performance in the oil and gas sector. This has led to increased government spending on healthcare and social services, which has helped to support the growth of the Pharmaceuticals market. Additionally, the government has implemented a number of policies aimed at promoting domestic production and reducing reliance on imports, which has created opportunities for local companies to expand their operations.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.