Pharmaceuticals - Central Asia

Central Asia

The Pharmaceuticals market in Central Asia is expected to achieve a revenue of US$1,550.00m by the year 2024.
Among the various markets, the largest one is Oncology Drugs, which is projected to reach a market volume of US$211.90m in 2024.
The revenue in this sector is anticipated to grow at an annual rate of 3.29% (CAGR 2024-2029), resulting in a market volume of US$1,822.00m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$630.30bn in 2024.
The pharmaceutical market in Central Asia is rapidly expanding due to increasing government investments and a growing demand for healthcare.

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. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. 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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Central Asia has been steadily growing in recent years, driven by a number of factors such as increasing demand for healthcare services and rising disposable incomes.

Customer preferences: Customers in Central Asia are increasingly seeking out high-quality pharmaceutical products that are both affordable and effective. They are also looking for products that are easily accessible, with many preferring to purchase medications from local pharmacies rather than ordering them online. As a result, local pharmacies have become a key distribution channel for pharmaceutical companies in the region.

Trends in the market: One of the key trends in the pharmaceuticals market in Central Asia is the growing demand for generic drugs. This is due to the fact that they are often significantly cheaper than branded drugs, making them more accessible to a wider range of consumers. Another trend is the increasing adoption of digital technologies by pharmaceutical companies, which are using these tools to streamline their operations and improve the efficiency of their supply chains.

Local special circumstances: One of the unique challenges facing pharmaceutical companies operating in Central Asia is the region's complex regulatory environment. In many cases, companies are required to navigate a patchwork of different regulations and requirements in order to bring their products to market. Additionally, there is a shortage of trained healthcare professionals in many parts of the region, which can make it difficult for companies to effectively market their products to consumers.

Underlying macroeconomic factors: The growth of the pharmaceuticals market in Central Asia is being driven by a number of underlying macroeconomic factors, including rising disposable incomes and an aging population. As consumers in the region become more affluent, they are increasingly willing to spend money on healthcare services and pharmaceutical products. Additionally, the aging population in many parts of the region is driving demand for medications that treat chronic diseases and other age-related conditions. Finally, the ongoing COVID-19 pandemic has also had an impact on the pharmaceuticals market in Central Asia, with many consumers stocking up on medications and other healthcare products in order to prepare for potential disruptions to supply chains.

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.