Pharmaceuticals - Haiti

Haiti

Haiti's Pharmaceuticals market is expected to witness a significant increase in revenue, reaching a projected amount of US$127.00m in 2024.
Among the various markets, Oncology Drugs holds the largest share, with a projected market volume of US$20.15m in the same year.
Furthermore, the Pharmaceuticals market in Haiti is anticipated to experience a steady annual growth rate of 4.13% from 2024 to 2029.
This growth trajectory is expected to result in a market volume of US$155.50m by 2029.
When considering global comparisons, it is worth noting that United States is projected to generate the highest revenue in the Pharmaceuticals market, amounting to a staggering US$630.30bn in 2024.
Haiti's pharmaceutical market is experiencing a surge in demand for essential medicines due to the country's high prevalence of infectious diseases.

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 Haiti is experiencing a steady growth with increasing demand for healthcare products and services in the country.

Customer preferences: Haiti's population is estimated to be around 11 million, and the majority of the population has limited access to healthcare facilities. The country has been facing various health challenges such as high infant mortality rates, communicable diseases, and natural disasters. Due to these factors, the demand for healthcare products and services has been increasing in Haiti. Customers in Haiti prefer affordable and accessible healthcare products and services due to their limited purchasing power.

Trends in the market: The Haitian government has been taking initiatives to improve the healthcare sector in the country. It has been investing in the expansion of healthcare facilities and providing subsidies for healthcare products. The government has also been promoting the use of generic drugs to reduce healthcare costs. Due to these initiatives, the pharmaceuticals market in Haiti has been growing steadily. The market is dominated by imported pharmaceutical products, mainly from the United States, Canada, and France. However, there has been a growing interest in locally produced pharmaceutical products, which has led to the emergence of local pharmaceutical companies.

Local special circumstances: Haiti is one of the poorest countries in the Western Hemisphere, and the healthcare sector in the country faces various challenges. The country lacks adequate healthcare facilities and trained healthcare professionals. The healthcare sector in Haiti heavily relies on foreign aid, and the government spends a limited amount on healthcare. Due to these challenges, the pharmaceuticals market in Haiti is highly regulated, and the government controls the prices of pharmaceutical products. The country also faces challenges such as political instability and natural disasters, which can affect the supply chain of pharmaceutical products.

Underlying macroeconomic factors: The Haitian economy heavily relies on agriculture, and the country faces various economic challenges such as high inflation rates and limited foreign investment. The pharmaceuticals market in Haiti is highly dependent on foreign aid and importation of pharmaceutical products. The country also faces challenges such as poor infrastructure and limited access to electricity, which can affect the distribution of pharmaceutical products. However, the government has been taking initiatives to improve the business environment in the country and attract foreign investment, which can positively impact the pharmaceuticals market in Haiti.

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.