Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in Burkina Faso has been experiencing a steady growth in recent years.
Customer preferences: The Burkinabe population has been increasingly demanding better access to healthcare and medical treatments. This has led to an increase in demand for Other Pharmaceuticals as it provides affordable and accessible medication to the population. The government has also been working towards improving the healthcare system in the country, which has further increased the demand for Other Pharmaceuticals.
Trends in the market: The Other Pharmaceuticals market in Burkina Faso has been growing at a steady pace due to the increase in demand from the population. The market has also been witnessing a shift towards generic drugs, which are more affordable than branded drugs. This has been driven by the government's efforts to reduce healthcare costs and make medication more accessible to the population.
Local special circumstances: Burkina Faso is a low-income country with a large rural population. This presents unique challenges for the healthcare system, as access to healthcare is limited in many parts of the country. As a result, the government has been working to improve the accessibility of healthcare services, which has led to an increase in demand for Other Pharmaceuticals.
Underlying macroeconomic factors: The Burkinabe economy has been growing steadily in recent years, which has led to an increase in disposable income among the population. This has translated into increased spending on healthcare and medication, which has further boosted the demand for Other Pharmaceuticals. The government's efforts to improve the business environment in the country have also attracted foreign investment, which has led to the entry of new players in the market. This has increased competition in the market, which has led to a wider range of products and increased affordability of medication.
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.
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