Other Pharmaceuticals - Benelux

Benelux

Highlights

The revenue in the Other Pharmaceuticals market in Benelux is estimated to reach US$4.95bn in 2024.
It is projected to experience an annual growth rate of 3.55% (CAGR 2024-2029), leading to a market volume of US$5.89bn by 2029.
When compared globally, United States is expected to generate the highest revenue of US$260.50bn in 2024.
In the Benelux region, the market for Other Pharmaceuticals is experiencing a surge in demand for natural remedies and traditional medicines.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Pharmaceuticals market in Benelux is a dynamic and evolving industry that caters to a wide range of medical needs.

Customer preferences: Customers in Benelux are increasingly seeking out alternative and complementary medicines to traditional pharmaceuticals. As a result, the demand for Other Pharmaceuticals, which includes homeopathic remedies, herbal supplements, and vitamins, has been steadily increasing in the region.

Trends in the market: One notable trend in the Other Pharmaceuticals market in Benelux is the growing popularity of natural and organic products. Consumers are increasingly aware of the potential side effects of traditional pharmaceuticals and are turning to natural remedies as a safer, more holistic alternative. Additionally, the rise of e-commerce platforms has made it easier for consumers to access a wider range of products, including those from international markets.

Local special circumstances: The Other Pharmaceuticals market in Benelux is heavily influenced by the region's cultural and historical ties to natural remedies. Homeopathy, for example, has a long history in the region and is widely accepted as a legitimate form of medicine. Additionally, the region's strict regulations on traditional pharmaceuticals have made it more difficult for companies to introduce new drugs, leading to a greater focus on natural and alternative remedies.

Underlying macroeconomic factors: The growth of the Other Pharmaceuticals market in Benelux is also driven by broader macroeconomic factors. The region's aging population, for example, has led to an increased demand for products that promote healthy aging and manage chronic conditions. Additionally, rising healthcare costs have made consumers more cost-conscious, leading them to seek out cheaper, more accessible alternatives to traditional pharmaceuticals. Finally, the region's strong economy and high levels of education have created a population that is both willing and able to invest in their health and well-being.

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.