Other Pharmaceuticals - Bahrain

Bahrain

In Bahrain, the revenue in the market Other Pharmaceuticals market is projected to reach US$66.57m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.89%, resulting in a market volume of US$80.58m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$260.50bn in 2024.
Bahrain's pharmaceutical market is witnessing a surge in demand for alternative medicines and natural remedies.

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

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Analyst Opinion

The Other Pharmaceuticals market in Bahrain has been growing steadily in recent years, driven by a combination of factors including customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Bahrain have shown a growing interest in alternative medicines and natural remedies, which has led to an increase in demand for Other Pharmaceuticals. This trend is in line with global consumer preferences, as more people seek out natural and holistic remedies for their health concerns.

Trends in the market: The Other Pharmaceuticals market in Bahrain is expected to continue growing in the coming years, driven by factors such as an aging population and increasing healthcare spending. In addition, the government's efforts to improve healthcare infrastructure and expand access to medical services are likely to fuel demand for pharmaceuticals of all types.

Local special circumstances: Bahrain's small size and high population density make it an ideal location for the development of a strong pharmaceutical market. The country's strategic location in the Gulf region also makes it an attractive destination for pharmaceutical companies looking to expand their operations in the Middle East.

Underlying macroeconomic factors: Bahrain's strong economic growth and stable political environment have created a favorable business climate for pharmaceutical companies operating in the country. In addition, the government's focus on diversifying the economy away from oil and gas has led to increased investment in the healthcare sector, which is expected to drive growth in the Other Pharmaceuticals market in the coming years.

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.