Pharmaceuticals - Malta

Malta

In 2024, the revenue in the Pharmaceuticals market in Malta is estimated to reach US$162.60m.
The largest market within this market is Oncology Drugs, with a projected market volume of US$28.40m in the same year.
It is expected that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 5.45%, leading to a market volume of US$212.00m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$630.30bn in 2024.
Malta is emerging as a hub for pharmaceutical research and development, attracting major international companies to establish their presence in the country.

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

Malta, an archipelago in the Mediterranean Sea, is a small country with a population of just over 500,000. The Pharmaceuticals market in Malta has been growing steadily over the years, driven by various factors.

Customer preferences: Maltese consumers are becoming more health-conscious, leading to an increase in demand for pharmaceutical products. As the population ages, there is a growing need for medications to manage chronic conditions such as diabetes, hypertension, and heart disease. Additionally, there is an increasing demand for over-the-counter (OTC) medications as consumers seek to self-treat minor ailments.

Trends in the market: One of the key trends in the Maltese Pharmaceuticals market is the growing demand for generic drugs. The availability of cheaper generic alternatives to branded drugs has made them more accessible to consumers, leading to increased adoption. Additionally, there is a trend towards the use of more natural and herbal remedies, driven by a growing awareness of the potential side effects of conventional medications.

Local special circumstances: Malta has a small but well-developed pharmaceutical industry, with several local manufacturers producing a range of products. The country's strategic location in the Mediterranean has made it an attractive location for pharmaceutical companies to establish a presence. Additionally, Malta has a strong regulatory framework that ensures the safety and efficacy of pharmaceutical products.

Underlying macroeconomic factors: Malta's economy has been growing steadily over the years, driven by a strong services sector, including tourism and financial services. This has led to increased disposable income and a higher standard of living, which in turn has contributed to increased spending on healthcare. Additionally, Malta's membership in the European Union has facilitated trade and investment, making it easier for pharmaceutical companies to do business in the country.In conclusion, the Pharmaceuticals market in Malta is expected to continue growing in the coming years, driven by factors such as an aging population, increasing health consciousness, and a growing demand for generic drugs. The country's strategic location, strong regulatory framework, and membership in the European Union are also likely to contribute to this growth.

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.