Pharmaceuticals - Eastern Europe

Eastern Europe

The Eastern European Pharmaceuticals market is expected to achieve a revenue of US$10.57bn in 2024.
Among the various markets, Oncology Drugs is anticipated to be the largest, with a projected market volume of US$1.84bn in the same year.
Looking ahead, the market is forecasted to experience a steady annual growth rate of 4.42% (CAGR 2024-2029), resulting in a market volume of US$13.12bn by 2029.
In comparison to other countries, United States is expected to generate the highest revenue, reaching US$630.30bn in 2024.
This indicates the significant contribution of the United States in the global pharmaceuticals market.
The pharmaceutical market in Eastern Europe is experiencing a surge in demand for generic drugs due to increasing healthcare costs.

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 Eastern Europe has been experiencing steady growth in recent years, driven by a combination of factors such as increasing demand for healthcare services, rising disposable incomes, and growing aging populations.

Customer preferences: Customers in Eastern Europe tend to prioritize affordability and accessibility when it comes to healthcare services and pharmaceutical products. As a result, there is a growing demand for generic drugs and over-the-counter medications, which are generally more affordable than branded drugs. Additionally, customers are increasingly turning to e-commerce platforms to purchase their medications, as they offer greater convenience and lower prices.

Trends in the market: One of the key trends in the Pharmaceuticals market in Eastern Europe is the increasing focus on research and development of innovative drugs. Many pharmaceutical companies are investing heavily in R&D to develop new treatments for various diseases, such as cancer and cardiovascular diseases. This trend is expected to continue as the demand for more effective and targeted treatments grows.Another trend in the market is the growing popularity of natural and herbal remedies. Many customers in Eastern Europe prefer natural remedies over synthetic drugs, as they are perceived to be safer and have fewer side effects. As a result, there is a growing demand for herbal and natural supplements, which is driving growth in this segment of the market.

Local special circumstances: One of the unique characteristics of the Pharmaceuticals market in Eastern Europe is the high level of government involvement in healthcare. Many countries in the region have nationalized healthcare systems, which means that the government plays a significant role in regulating the pharmaceutical industry. This can create challenges for pharmaceutical companies, as they must navigate complex regulatory frameworks and deal with government bureaucracy.

Underlying macroeconomic factors: The Pharmaceuticals market in Eastern Europe is also influenced by broader macroeconomic factors, such as economic growth and demographic changes. As the region's economies continue to grow, more people are able to afford healthcare services and pharmaceutical products, which is driving demand for these products. Additionally, the aging population in many countries in the region is creating a growing need for healthcare services and pharmaceuticals, as older people tend to have more health issues and require more medical treatment.

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.