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Key regions: United States, China, Germany, Japan, Europe
The Pharmaceuticals market in Bahrain has been evolving over the years, driven by global trends and local factors.
Customer preferences: Bahrain has a high demand for pharmaceutical products due to its growing population and the increasing prevalence of chronic diseases. Patients in Bahrain prefer branded drugs over generic alternatives, which is a trend observed in many other countries in the region. Additionally, the government's healthcare policy provides universal healthcare coverage to all citizens and residents, which has contributed to the growth of the pharmaceutical market.
Trends in the market: The pharmaceutical market in Bahrain is expected to grow at a steady pace, driven by factors such as an aging population, increasing healthcare expenditure, and the rising prevalence of chronic diseases. The government's efforts to improve the healthcare infrastructure and attract foreign investment in the sector are also expected to contribute to the growth of the market. Additionally, the increasing focus on research and development in the pharmaceutical industry is expected to lead to the introduction of innovative drugs in the market.
Local special circumstances: Bahrain has a small domestic market, which has led to the government's efforts to attract foreign investment in the pharmaceutical sector. The Bahrain Economic Development Board has been actively promoting the country as a hub for healthcare and life sciences, offering incentives such as tax exemptions and streamlined regulatory processes. Additionally, the country's strategic location and well-developed infrastructure make it an attractive destination for pharmaceutical companies looking to expand their operations in the region.
Underlying macroeconomic factors: Bahrain's economy is heavily dependent on the oil and gas sector, which has been facing challenges in recent years due to the global drop in oil prices. However, the government has been implementing economic diversification initiatives to reduce the country's reliance on oil revenues. The pharmaceutical industry is one of the sectors identified for growth under these initiatives, which is expected to provide opportunities for local and foreign investors. Additionally, Bahrain's stable political environment and business-friendly policies make it an attractive destination for foreign investment.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)