Pharmaceuticals - Angola

Angola

The Pharmaceuticals market in Angola is expected to achieve a revenue of US$335.90m in the year 2024.
Among the various markets, Oncology Drugs holds the largest market share, with a projected volume of US$47.17m in 2024.
Looking ahead, the revenue is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 2.10%, resulting in a market volume of US$372.60m by the year 2029.
It is worth noting that in a global context, United States is expected to generate the highest revenue, amounting to US$630.30bn in 2024.
Angola's pharmaceutical market is experiencing a surge in demand for generic drugs due to their affordability and accessibility.

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. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. 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.

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Currency

Analyst Opinion

The pharmaceuticals market in Angola has been experiencing significant growth in recent years due to various factors.

Customer preferences: Angolan customers are increasingly demanding high-quality pharmaceutical products that are effective and affordable. With a growing middle class, there is an increasing demand for branded drugs, which are perceived to be of better quality than generic drugs. However, the majority of the population still prefers generic drugs due to their affordability.

Trends in the market: The pharmaceuticals market in Angola has been growing due to the increasing prevalence of chronic diseases such as diabetes, hypertension, and cancer. This has led to increased demand for drugs to manage these conditions. Additionally, there has been an increase in government spending on healthcare, which has led to increased access to healthcare services and medication.

Local special circumstances: The pharmaceuticals market in Angola faces various challenges, including a lack of local manufacturing capacity, which has led to a heavy reliance on imports. Additionally, there is a lack of regulatory oversight, which has led to the proliferation of counterfeit drugs in the market. However, the government has been taking steps to address these challenges, including investing in local manufacturing capacity and strengthening regulatory oversight.

Underlying macroeconomic factors: Angola is one of the fastest-growing economies in Africa, with a rapidly expanding middle class. This has led to increased demand for healthcare services and medication. Additionally, the government has been investing heavily in infrastructure development, which has led to increased access to healthcare services and medication. However, the country is heavily dependent on oil exports, which has led to significant fluctuations in the economy due to changes in oil prices. This has led to challenges in maintaining a stable healthcare system.

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.