Bronchodilator Drugs - Ghana

Ghana

The projected revenue for the Bronchodilator Drugs market in Ghana is expected to reach US$5.81m in 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of 3.83%, resulting in a market volume of US$7.01m by 2029.
In comparison to other countries globally, United States is expected to generate the highest revenue in the Bronchodilator Drugs market, reaching US$17,340.00m in 2024.
Despite the high prevalence of respiratory diseases in Ghana, the demand for bronchodilator drugs remains low due to limited access to healthcare facilities and affordability issues.

Key regions: United States, Europe, Brazil, Japan, United Kingdom

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Analyst Opinion

Bronchodilator drugs are widely used in Ghana to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). This market has been steadily growing due to various factors.

Customer preferences: Customers in Ghana generally prefer bronchodilator drugs that are affordable and easily accessible. They also tend to opt for drugs that have fewer side effects and are effective in treating their respiratory conditions. As a result, generic drugs are more popular than branded drugs in this market.

Trends in the market: One of the major trends in the bronchodilator drugs market in Ghana is the increasing prevalence of respiratory diseases. This is due to factors such as air pollution, smoking, and poor living conditions. As a result, the demand for bronchodilator drugs has been steadily increasing.Another trend is the increasing availability of bronchodilator drugs in Ghana. Many pharmaceutical companies have entered the market, leading to increased competition and lower prices. This has made these drugs more accessible to the general population.

Local special circumstances: Ghana has a high burden of respiratory diseases, with asthma and COPD being among the leading causes of morbidity and mortality. This has led to increased awareness of these conditions and the need for effective treatment options. Additionally, the government has implemented various policies to improve access to healthcare, including the availability of essential medicines such as bronchodilator drugs.

Underlying macroeconomic factors: Ghana's economy has been growing steadily in recent years, with a focus on developing the healthcare sector. This has led to increased investment in healthcare infrastructure and the availability of essential medicines. Additionally, the country has a large and growing population, which has contributed to the increasing demand for bronchodilator 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.