Pharmaceuticals - Czechia

Czechia

Czechia is expected to witness a significant growth in revenue within the Pharmaceuticals market, reaching an estimated value of CZK US$2,137.00m by 2024.
Among the different markets, Oncology Drugs is projected to be the largest, with a market volume of CZK US$364.70m in the same year.
Over the forecast period from 2024 to 2029, the market is anticipated to display a steady annual growth rate (CAGR 2024-2029) of 4.40%, resulting in a market volume of CZK US$2,650.00m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue within the Pharmaceuticals market, estimated at US$630.30bn by 2024.
This clearly demonstrates the dominance of the United States in the global pharmaceutical industry.
Czechia's pharmaceutical market is witnessing a surge in demand for innovative biologic drugs, driven by a growing aging population and increasing healthcare expenditure.

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.

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Region

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Currency

Analyst Opinion

The Pharmaceuticals market in Czechia has been experiencing steady growth in recent years.

Customer preferences: Czechia has a well-established healthcare system that provides universal coverage to its citizens. As a result, there is a high demand for pharmaceutical products in the country. Customers in Czechia prefer high-quality and affordable drugs that are easily accessible. They also tend to favor generic drugs over branded ones.

Trends in the market: The pharmaceuticals market in Czechia has been growing steadily over the past few years. This growth can be attributed to several factors, including an increase in the demand for pharmaceutical products, the rise in chronic diseases, and the aging population. The market has also been driven by the increasing number of clinical trials being conducted in the country.

Local special circumstances: Czechia has a well-developed pharmaceutical industry, with several local manufacturers producing a wide range of drugs. The country has a favorable regulatory environment that encourages the development and production of pharmaceutical products. Additionally, the country's central location in Europe makes it an attractive market for pharmaceutical companies looking to expand their operations in the region.

Underlying macroeconomic factors: The Czech economy has been growing steadily over the past few years, with a strong focus on innovation and technology. The country has a highly educated workforce, which has contributed to the growth of the pharmaceutical industry. The government has also been investing in the healthcare sector, which has helped to drive the growth of the pharmaceutical market. Overall, the favorable economic and regulatory environment in Czechia is expected to continue to drive the growth of the pharmaceutical industry in the country.

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.