Other Pharmaceuticals - BRICS

BRICS

In 2024, the Other Pharmaceuticals market in BRICS is estimated to witness a significant growth, with projected revenue reaching US$67.34bn.
It is expected that this market will continue to expand steadily, with an annual growth rate (CAGR 2024-2029) of 4.37%.
By 2029, the market volume is anticipated to reach a substantial figure of US$83.41bn.
In terms of global comparison, United States is set to dominate this market, generating the highest revenue of US$260.50bn in 2024.
Brazil's Other Pharmaceuticals market is experiencing a surge in demand due to the country's growing middle class and increased access to healthcare.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in BRICS has been experiencing significant growth in recent years, driven by a variety of factors unique to each country in the region.

Customer preferences: In Brazil, there has been a growing demand for natural and alternative medicines, leading to an increase in sales for herbal and homeopathic remedies. Russia, on the other hand, has a strong preference for imported drugs, particularly from Europe. India has a large population with limited access to healthcare, leading to a need for low-cost generic drugs. China, with its aging population, has a growing demand for medicines to treat chronic diseases such as diabetes and hypertension. South Africa has a high burden of infectious diseases, leading to a focus on vaccines and antibiotics.

Trends in the market: In Brazil, there has been a trend towards consolidation in the pharmaceutical industry, with larger companies acquiring smaller ones to expand their product portfolios. Russia has seen an increase in government regulation of the pharmaceutical industry, with stricter requirements for drug registration and pricing. India has become a hub for generic drug manufacturing, with many multinational companies outsourcing production to the country. China has been investing heavily in biotech companies, with a focus on developing innovative drugs. South Africa has seen a rise in the use of mobile health technology to improve access to healthcare in underserved areas.

Local special circumstances: Brazil has a large population with a high prevalence of chronic diseases such as diabetes and cardiovascular disease. Russia has a large aging population and a high burden of infectious diseases such as tuberculosis. India has a large population with limited access to healthcare, particularly in rural areas. China has a rapidly aging population and a high prevalence of chronic diseases such as cancer and respiratory disease. South Africa has a high burden of infectious diseases such as HIV/AIDS and tuberculosis.

Underlying macroeconomic factors: Brazil has been experiencing economic instability in recent years, leading to a decline in pharmaceutical sales. Russia has been affected by economic sanctions and a decline in oil prices, leading to a decrease in healthcare spending. India has a rapidly growing economy and a large population, leading to a growing pharmaceutical market. China has a large and growing middle class with increasing healthcare needs, leading to a growing pharmaceutical market. South Africa has been affected by high levels of inequality and a struggling economy, leading to limited access to healthcare for many of its citizens.

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.