Other Pharmaceuticals - Argentina

Argentina

In Argentina, the revenue in the Other Pharmaceuticals market is projected to reach US$1.67bn by 2024.
The market is expected to show an annual growth rate of 3.46% between 2024 and 2029, resulting in a market volume of US$1.98bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, reaching US$260.50bn in 2024.
Argentina's market for other pharmaceuticals is experiencing a surge in demand due to the country's growing aging population.

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

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Currency

Analyst Opinion

The Other Pharmaceuticals market in Argentina has been experiencing steady growth in recent years.

Customer preferences: Customers in Argentina are increasingly looking for alternative and complementary medicines to traditional pharmaceuticals. This has led to a rise in demand for Other Pharmaceuticals, which include products such as vitamins, minerals, and herbal supplements.

Trends in the market: One trend in the Other Pharmaceuticals market in Argentina is the growing popularity of natural and organic products. Consumers are becoming more health-conscious and are looking for products that are perceived as being healthier and more natural. This trend is expected to continue in the coming years, driving further growth in the market.Another trend is the increasing availability of Other Pharmaceuticals products in supermarkets and online. This has made it easier for consumers to access these products, which has contributed to the growth of the market.

Local special circumstances: Argentina has a large population of older adults, who are more likely to use Other Pharmaceuticals products. This demographic trend has contributed to the growth of the market.In addition, the country has a strong tradition of herbal medicine, which has helped to drive demand for Other Pharmaceuticals products.

Underlying macroeconomic factors: Argentina has experienced economic instability in recent years, which has led to a devaluation of the currency and high inflation. This has made traditional pharmaceuticals more expensive, leading consumers to seek out cheaper alternatives such as Other Pharmaceuticals.Overall, the Other Pharmaceuticals market in Argentina is expected to continue growing in the coming years, driven by consumer demand for natural and organic products, the increasing availability of these products, and the country's demographic trends.

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.