Anti-Fibrinolytic Drugs - Tanzania

Tanzania

The Anti-Fibrinolytic Drugs market in Tanzania is expected to witness a significant increase in revenue, reaching a projected amount of US$3.34m by the year 2024.
Furthermore, it is anticipated that the market will continue to grow steadily with an annual growth rate of 5.62% (CAGR 2024-2029), resulting in a market volume of US$4.39m by 2029.
When compared to other countries globally, it is noteworthy that United States is projected to generate the highest revenue in the Anti-Fibrinolytic Drugs market, amounting to US$9,858.00m in the year 2024.
Tanzania's demand for anti-fibrinolytic drugs is rising due to an increasing prevalence of bleeding disorders in the country.

Key regions: United Kingdom, Brazil, Europe, France, Canada

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Analyst Opinion

Anti-Fibrinolytic Drugs are a vital part of the global pharmaceutical industry. In Tanzania, the market for these drugs has been steadily growing.

Customer preferences: The demand for Anti-Fibrinolytic Drugs in Tanzania is driven by the increasing prevalence of bleeding disorders such as hemophilia and trauma-related bleeding. The drugs are also used during surgeries to prevent excessive bleeding. Patients with these conditions require regular medication, which has led to a steady increase in demand for Anti-Fibrinolytic Drugs.

Trends in the market: The Anti-Fibrinolytic Drugs market in Tanzania is experiencing a shift from brand-name drugs to generic drugs. This shift is driven by the high cost of brand-name drugs and the availability of cheaper generic alternatives. The Tanzanian government has also been promoting the use of generic drugs to reduce healthcare costs. This trend is expected to continue as more generic drugs become available in the market.

Local special circumstances: Tanzania has a high burden of diseases such as malaria, HIV/AIDS, and tuberculosis, which has resulted in a significant strain on the healthcare system. The government has been investing in the healthcare sector to improve access to healthcare services, including medication. The country's healthcare infrastructure is still developing, and there is a need to increase the availability of healthcare services in rural areas.

Underlying macroeconomic factors: Tanzania's economy has been growing steadily over the past few years, with a focus on developing industries such as agriculture, mining, and tourism. The growth of these industries has led to an increase in disposable income, which has resulted in an increase in demand for healthcare services, including medication. The government has also been investing in the healthcare sector to improve access to healthcare services, which has led to an increase in demand for Anti-Fibrinolytic Drugs.

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.