Pharmaceuticals - Myanmar

Myanmar

In 2024, the projected revenue in the Pharmaceuticals market in Myanmar is expected to reach US$282.60m.
Among the various markets, Oncology Drugs is anticipated to be the largest, with a projected market volume of US$40.20m in the same year.
Looking ahead, the revenue is expected to experience a steady annual growth rate (CAGR 2024-2029) of 3.49%.
This growth will lead to a market volume of US$335.50m by 2029.
In a global comparison, the highest revenue generation is expected to occur United States, with an estimated revenue of US$630.30bn in 2024.
Despite facing challenges in infrastructure and regulations, Myanmar's pharmaceutical market is experiencing steady growth driven by increasing healthcare investment and rising demand for essential medicines.

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

Myanmar, a country located in Southeast Asia, is gradually emerging as a potential market for pharmaceuticals. The pharmaceuticals market in Myanmar is developing at a steady pace, and several factors are contributing to this growth.

Customer preferences: The healthcare sector in Myanmar has been undergoing significant changes over the past few years. The population of Myanmar has been increasing, and so has the demand for quality healthcare services. The customers in Myanmar are becoming more aware of the importance of good health, and they are willing to spend more on healthcare services. As a result, the demand for pharmaceuticals is increasing in Myanmar.

Trends in the market: One of the significant trends in the pharmaceuticals market in Myanmar is the increasing demand for generic drugs. Generic drugs are cheaper than branded drugs, and they are becoming increasingly popular in Myanmar. The government of Myanmar has also been promoting the use of generic drugs to reduce the cost of healthcare services.Another trend in the market is the increasing use of technology in the healthcare sector. The use of technology has made it easier for healthcare providers to diagnose and treat diseases. The use of telemedicine, electronic health records, and mobile health applications has made healthcare services more accessible to people in remote areas.

Local special circumstances: Myanmar is a developing country, and the healthcare infrastructure is still in its early stages. The healthcare system in Myanmar is facing several challenges, including a shortage of healthcare professionals, inadequate healthcare facilities, and limited access to medicines. The government of Myanmar has been taking steps to address these challenges and improve the healthcare system in the country.

Underlying macroeconomic factors: The pharmaceuticals market in Myanmar is also influenced by several macroeconomic factors. The economic growth of the country has been contributing to the growth of the healthcare sector. The government of Myanmar has been implementing policies to promote economic growth and attract foreign investment. The increasing foreign investment in the healthcare sector is driving the growth of the pharmaceuticals market in Myanmar.In conclusion, the pharmaceuticals market in Myanmar is developing at a steady pace. The increasing demand for quality healthcare services, the use of technology in the healthcare sector, and the government's efforts to improve the healthcare system are contributing to the growth of the market. The trend towards generic drugs and the increasing foreign investment in the healthcare sector are also driving the growth of the pharmaceuticals market in Myanmar.

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.