Pharmaceuticals - Kyrgyzstan

  • Kyrgyzstan
  • Kyrgyzstan is projected to witness a significant boost in revenue within the Pharmaceuticals market, with an expected reach of US$57.96m in 2024.
  • among the various markets of this market, Oncology Drugs stands out as the largest, with a projected market volume of US$9.17m in the same year.
  • Looking ahead, the industry is set to experience a steady annual growth rate of 4.00% (CAGR 2024-2029), resulting in a substantial market volume of US$70.53m by 2029.
  • However, in a global context, it is worth noting that United States will continue to dominate the scene, generating the highest revenue of US$630.30bn in 2024.
  • Kyrgyzstan's pharmaceutical market is experiencing a surge in demand for herbal remedies and traditional medicine.

Key regions: United States, China, Germany, Japan, Europe

 
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Analyst Opinion

Kyrgyzstan, a country in Central Asia, has been experiencing growth in its pharmaceuticals market in recent years.

Customer preferences:
Kyrgyzstan's population has been increasingly interested in healthcare, leading to a higher demand for pharmaceutical products. The country's healthcare system has been improving, resulting in increased access to healthcare services, which has led to an increased demand for pharmaceuticals.

Trends in the market:
One trend in the Kyrgyzstan pharmaceuticals market is the increasing preference for generic drugs over branded drugs. This is due to the lower cost of generic drugs, which makes them more accessible to the general population. Additionally, the government has been promoting the use of generic drugs to reduce the cost of healthcare.Another trend is the increasing popularity of online pharmacies. This is due to the convenience of ordering drugs online and having them delivered to one's doorstep. Online pharmacies also offer a wider range of products and competitive prices.

Local special circumstances:
Kyrgyzstan's pharmaceuticals market is heavily regulated by the government. The government controls the prices of drugs and regulates the import and export of pharmaceutical products. This has led to a lack of competition in the market, which has resulted in higher prices for drugs.Additionally, the country's geography and infrastructure can pose challenges in the distribution of pharmaceutical products. Kyrgyzstan has a mountainous terrain, which can make it difficult to transport drugs to remote areas.

Underlying macroeconomic factors:
Kyrgyzstan's economy has been growing steadily in recent years, which has led to an increase in disposable income. This has resulted in a higher demand for healthcare services, including pharmaceutical products.The government has also been investing in the healthcare sector, which has led to an improvement in the quality of healthcare services. This has further increased the demand for pharmaceutical products.In conclusion, Kyrgyzstan's pharmaceuticals market has been experiencing growth due to an increasing demand for healthcare services, a preference for generic drugs, and the popularity of online pharmacies. However, the market is heavily regulated by the government, which can pose challenges for businesses operating in 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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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