Pharmaceuticals - EAEU

EAEU

The Pharmaceuticals market in the EAEU is anticipated to witness a significant growth in revenue, with projections suggesting that it will reach US$7.78bn in 2024.
Among the various markets, Oncology Drugs is expected to be the largest, with a projected market volume of US$1.39bn in 2024.
This indicates the importance of this segment in the pharmaceutical industry within the EAEU.
Furthermore, the revenue in this market is expected to exhibit a steady annual growth rate of 4.60%, as measured by the compound annual growth rate (CAGR), between 2024 and 2029.
This growth trajectory is expected to result in a substantial increase in the market volume, reaching US$9.74bn by 2029.
Such growth signifies the potential for further expansion and development within the pharmaceutical sector in the EAEU.
When considering the global perspective, it is worth noting that United States is projected to generate the highest revenue in the Pharmaceuticals market, with an estimated revenue of US$630.30bn in 2024.
This highlights the dominant position of the United States in terms of pharmaceutical market size and revenue generation.
The pharmaceutical industry in the EAEU is experiencing a surge in demand for generic drugs due to cost-conscious consumers.

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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Currency

Analyst Opinion

The Pharmaceuticals market in EAEU has been experiencing steady growth over the years.

Customer preferences: One of the main customer preferences in the EAEU region is the demand for affordable and high-quality pharmaceutical products. Customers are highly sensitive to the price of drugs, and this has been a major factor driving the growth of the market. Additionally, customers in the region prefer to purchase pharmaceutical products that are easily accessible and convenient to use.

Trends in the market: The Pharmaceuticals market in EAEU is experiencing a number of trends. One of the major trends is the increasing demand for generic drugs. This trend is driven by the need for affordable drugs, as well as the expiration of patents on many branded drugs. Another trend in the market is the increasing use of digital technologies to improve healthcare delivery and patient outcomes. This includes the use of telemedicine, mobile health applications, and electronic health records.

Local special circumstances: There are several local special circumstances that are affecting the Pharmaceuticals market in EAEU. One of the main circumstances is the varying regulatory environments across the region. This can make it difficult for pharmaceutical companies to navigate the market and ensure compliance with regulations. Additionally, there are differences in healthcare systems and infrastructure across the region, which can impact the demand for pharmaceutical products.

Underlying macroeconomic factors: There are several underlying macroeconomic factors that are driving the growth of the Pharmaceuticals market in EAEU. One of the main factors is the increasing population and aging demographics in the region. This is leading to a higher demand for healthcare services and pharmaceutical products. Additionally, the growing middle class in the region is increasing the overall purchasing power of customers, which is driving demand for pharmaceutical products. Finally, government initiatives to improve healthcare infrastructure and access to healthcare services are also contributing to the growth of the market.

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.