Pharmaceuticals - Malawi

Malawi

The Pharmaceuticals market in Malawi is expected to witness a significant surge in revenue, projected to reach US$121.10m in 2024.
among the various markets within the market, Oncology Drugs holds the largest share, with a projected market volume of US$14.42m in the same year.
This indicates the growing importance of oncology treatments within the pharmaceutical industry in Malawi.
Looking ahead, the sector is anticipated to maintain a steady growth rate, with an annual growth rate (CAGR 2024-2029) of 0.20%.
This trajectory is expected to result in a market volume of US$122.30m by 2029, showcasing the continuous expansion and development of the pharmaceutical industry in Malawi.
In terms of global comparison, United States is projected to generate the highest revenue, amounting to a staggering US$630.30bn in 2024.
This highlights the dominant position of the United States in the global pharmaceutical market and underscores its significant contribution to the industry's overall revenue.
Malawi's pharmaceutical market is experiencing a surge in demand for essential medicines due to the country's high burden of disease and limited access to healthcare.

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. 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

Malawi, a small landlocked country in southeastern Africa, has been experiencing a growing Pharmaceuticals market in recent years.

Customer preferences: The Malawian population has been increasingly demanding better healthcare services, leading to a higher demand for pharmaceutical products. As the country's economy grows, more people are able to afford healthcare services and pharmaceutical products. Additionally, the government has been investing in the healthcare sector, which has further fueled the demand for pharmaceutical products.

Trends in the market: The Pharmaceuticals market in Malawi has been growing due to several factors. Firstly, the increasing population has led to a higher demand for pharmaceutical products. Secondly, the government's investment in the healthcare sector has led to an increase in the number of healthcare facilities, which has further fueled the demand for pharmaceutical products. Thirdly, the country's growing economy has led to an increase in the number of people who can afford healthcare services and pharmaceutical products. Finally, the increasing prevalence of chronic diseases such as diabetes and hypertension has led to a higher demand for pharmaceutical products.

Local special circumstances: Malawi has a unique set of circumstances that have contributed to the growth of the Pharmaceuticals market. Firstly, the country has a high burden of disease, with a high prevalence of diseases such as HIV/AIDS, malaria, and tuberculosis. This has led to a higher demand for pharmaceutical products. Secondly, the country has a shortage of healthcare workers, which has led to a greater reliance on pharmaceutical products to treat patients. Finally, the country's healthcare system is underfunded, which has led to a greater reliance on pharmaceutical products.

Underlying macroeconomic factors: The Malawian economy has been growing in recent years, with a GDP growth rate of around 3% per annum. This has led to an increase in the number of people who can afford healthcare services and pharmaceutical products. Additionally, the government has been investing in the healthcare sector, which has further fueled the growth of the Pharmaceuticals market. However, the country faces several challenges, including a high poverty rate and a lack of infrastructure, which may limit the growth of the Pharmaceuticals market in the future.

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.