Other Pharmaceuticals - Angola

Angola

The Other Pharmaceuticals market in Angola is expected to see a significant increase in revenue, reaching US$112.10m in 2024.
This projection indicates a positive growth trend for the industry.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of 3.82% from 2024 to 2029, resulting in a market volume of US$135.20m by the end of the forecast period.
When examining the global market, it is worth noting that United States is expected to generate the highest revenue in the Other Pharmaceuticals market sector.
In 2024, the projected revenue for the United States is estimated to be US$260.50bn.
This demonstrates the dominance of the US market in terms of revenue generation within this industry.
The increasing demand for imported pharmaceutical products in Angola is driving growth in the Other Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Angola has been experiencing significant growth in recent years.

Customer preferences: Angolan consumers are becoming increasingly health-conscious, leading to a higher demand for pharmaceutical products. Additionally, the government has been investing in the healthcare sector, which has led to an increase in the availability of pharmaceutical products.

Trends in the market: There has been a growing trend towards the use of generic drugs in Angola. This is due to their lower cost compared to branded drugs. Additionally, there has been an increase in the production of generic drugs in Angola, which has led to a decrease in the country's reliance on imported drugs.

Local special circumstances: Angola has a high burden of disease, which has led to an increased demand for pharmaceutical products. Additionally, the country has a large population, which has contributed to the growth of the pharmaceutical market.

Underlying macroeconomic factors: Angola has been experiencing economic growth in recent years, which has led to an increase in disposable income for consumers. This has led to an increase in the demand for pharmaceutical products. Additionally, the government has been investing in the healthcare sector, which has led to an increase in the availability of pharmaceutical products.

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.