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Key regions: United States, China, Germany, Japan, Europe
Belarus, a country located in Eastern Europe, has been experiencing a significant growth in its pharmaceuticals market.
Customer preferences: Belarusian customers have been demanding more affordable and accessible medicines, which has led to an increase in the consumption of generic drugs. In addition, there has been a growing demand for medicines that treat chronic diseases such as cardiovascular diseases, diabetes, and cancer.
Trends in the market: One of the major trends in the Belarusian pharmaceuticals market is the increasing focus on research and development. Domestic companies are investing more in R&D to develop new drugs and improve the quality of existing ones. This has led to a rise in the number of clinical trials conducted in the country. Another trend is the growing popularity of e-pharmacies, which offer online ordering and delivery of medicines. This has made it easier for customers to access medicines, especially in rural areas.
Local special circumstances: Belarus has a state-controlled healthcare system, which means that the government plays a significant role in regulating the pharmaceuticals market. The government sets prices for medicines and also provides subsidies for certain categories of medicines. In addition, the government has been implementing policies to promote the local production of medicines, which has led to the growth of domestic pharmaceutical companies.
Underlying macroeconomic factors: Belarus has a stable economy with a high level of human development. The country has a well-educated workforce and a good infrastructure, which has made it an attractive destination for foreign investment in the pharmaceuticals sector. In addition, the country's membership in the Eurasian Economic Union has facilitated the trade of pharmaceuticals with other member states, which has boosted the growth of the market.In conclusion, the Belarusian pharmaceuticals market has been growing due to the increasing demand for affordable and accessible medicines, the focus on research and development, the popularity of e-pharmacies, the state-controlled healthcare system, and the underlying macroeconomic factors.
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)