Pharmaceuticals - Burundi

Burundi

The Pharmaceuticals market in Burundi is expected to witness a substantial increase in revenue, reaching US$23.65m in 2024.
Among the various markets, Oncology Drugs stands out as the largest, with a projected market volume of US$3.22m in the same year.
Furthermore, this sector is anticipated to experience a steady annual growth rate of 6.56% from 2024 to 2029 (CAGR 2024-2029), culminating in a market volume of US$32.50m by the end of the forecast period.
It is worth noting that, in terms of global comparison, United States is expected to generate the highest revenue of US$630.30bn in 2024.
Burundi's pharmaceutical market is experiencing growth due to increased government investment in healthcare infrastructure.

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. 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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Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Burundi has experienced significant growth in recent years, driven by a variety of factors.

Customer preferences: Burundian consumers have become increasingly health-conscious in recent years, leading to a greater demand for pharmaceutical products. Additionally, the country's growing population and rising income levels have contributed to increased demand for healthcare services, including pharmaceuticals.

Trends in the market: One of the key trends in the Burundian pharmaceuticals market is the increasing availability of generic drugs. This has been driven by a number of factors, including the expiration of patents on several major drugs and the efforts of the government and international organizations to promote the use of generic drugs.Another trend in the market is the growing focus on preventive healthcare. This has led to increased demand for products such as vitamins, supplements, and other over-the-counter products that can help consumers maintain good health.

Local special circumstances: One of the major challenges facing the Burundian pharmaceuticals market is the lack of adequate infrastructure and resources. This has made it difficult for pharmaceutical companies to distribute their products effectively, particularly in rural areas where access to healthcare services is limited.Another challenge is the high cost of healthcare services in the country, which has made it difficult for many consumers to access the products they need. This has led to a growing demand for affordable healthcare solutions, including generic drugs and other low-cost alternatives.

Underlying macroeconomic factors: The Burundian pharmaceuticals market is influenced by a range of macroeconomic factors, including the country's political stability, economic growth, and investment climate. In recent years, the government has implemented a number of reforms aimed at improving the business environment and attracting foreign investment, which has helped to support the growth of the pharmaceuticals sector.Overall, the Burundian pharmaceuticals market is expected to continue to grow in the coming years, driven by a range of factors including changing consumer preferences, growing demand for generic drugs, and efforts to improve access to healthcare services. However, challenges such as the lack of adequate infrastructure and high healthcare costs will need to be addressed in order to ensure continued growth and development in the sector.

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.