Other Pharmaceuticals - Botswana

Botswana

Highlights

The Other Pharmaceuticals market in Botswana is expected to witness a significant growth in revenue, reaching a projected value of US$41.31m in 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 4.32%, leading to a market volume of US$51.02m by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in this market, with an estimated value of US$260.50bn in 2024.
Botswana's pharmaceutical market is witnessing a surge in demand for alternative medicines and traditional remedies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for pharmaceuticals has been growing rapidly in Botswana due to the rise in population and the increasing prevalence of chronic diseases. The Other Pharmaceuticals market in Botswana has been developing in response to these factors.

Customer preferences: Customers in Botswana prefer affordable and high-quality pharmaceutical products. They are also increasingly looking for pharmaceuticals that are easily accessible and conveniently located. This has led to the growth of pharmacies and drug stores in urban areas.

Trends in the market: The Other Pharmaceuticals market in Botswana has been growing due to the increasing prevalence of chronic diseases such as diabetes, hypertension, and cancer. The rise in population has also contributed to the growth of the market. The demand for generic drugs has been increasing due to their affordability compared to branded drugs. The government has been promoting the use of generic drugs to reduce healthcare costs.

Local special circumstances: Botswana has a high prevalence of HIV/AIDS, which has led to the growth of the antiretroviral drugs market. The government has been providing free antiretroviral drugs to people living with HIV/AIDS, which has contributed to the growth of the market.

Underlying macroeconomic factors: Botswana has a stable economy and a growing middle class, which has led to an increase in healthcare spending. The government has been investing in healthcare infrastructure and promoting the use of generic drugs to reduce healthcare costs. The pharmaceutical industry in Botswana is dominated by multinational companies, which has led to the importation of most pharmaceutical products. The government has been promoting local production of pharmaceuticals to reduce the dependence on imports.

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.