Pharmaceuticals - Lesotho

  • Lesotho
  • Lesotho's Pharmaceuticals market is expected to achieve a revenue of US$24.68m in 2024.
  • among the various markets, Oncology Drugs holds the largest market share, projected to reach a volume of US$3.73m in 2024.
  • The market is anticipated to exhibit a compound annual growth rate (CAGR 2024-2029) of 3.54%, resulting in a market volume of US$29.37m by 2029.
  • When compared globally, United States is predicted to generate the highest revenue of US$630.30bn in 2024.
  • Lesotho's pharmaceutical market is experiencing a surge in demand for essential medicines due to an increase in chronic diseases.

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

 
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Analyst Opinion

Lesotho, a small landlocked country within South Africa, has been experiencing steady growth in its pharmaceuticals market in recent years.

Customer preferences:
The customer preferences in Lesotho's pharmaceuticals market are heavily influenced by the country's high burden of disease, particularly HIV/AIDS and tuberculosis. As a result, antiretroviral drugs and other medications used to treat these diseases are in high demand. Additionally, there is a growing demand for generic drugs due to their affordability.

Trends in the market:
One of the major trends in Lesotho's pharmaceuticals market is the increasing use of mobile technology to improve access to healthcare services. Mobile health (mHealth) initiatives have been implemented to provide patients with information on medication adherence and to improve supply chain management. Another trend is the growth of the private sector, which is driving competition and innovation in the market.

Local special circumstances:
Lesotho's pharmaceuticals market is heavily regulated by the government, which has implemented policies to promote the use of generic drugs and to ensure the quality of imported medications. Additionally, the country's geography and infrastructure pose challenges for the distribution of pharmaceuticals, particularly to rural areas.

Underlying macroeconomic factors:
Lesotho's pharmaceuticals market is influenced by a number of macroeconomic factors, including the country's high burden of disease, its growing population, and its increasing urbanization. Additionally, Lesotho's economy is heavily dependent on the textile industry, which has been impacted by global economic trends. This has led to a growing need for diversification and the development of other industries, including healthcare.

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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