Other Pharmaceuticals - Central Asia

Central Asia

In Central Asia, the revenue in the market Other Pharmaceuticals market is expected to reach US$0.51bn in 2024.
Looking ahead, it is projected to experience a steady annual growth rate (CAGR 2024-2029) of 4.97%, which will lead to a market volume of US$0.65bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, with a projected amount of US$260.50bn in 2024.
The pharmaceutical market in Central Asia is experiencing a growing demand for alternative medicines and traditional remedies.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Other Pharmaceuticals in Central Asia has been increasing steadily in the past few years due to various factors.

Customer preferences: Customers in Central Asia are increasingly looking for alternative medicines, which has led to a surge in demand for Other Pharmaceuticals. Moreover, the rising prevalence of chronic diseases has also contributed to the growth of the market.

Trends in the market: Kazakhstan is the largest market for Other Pharmaceuticals in Central Asia, followed by Uzbekistan and Kyrgyzstan. The market is expected to continue growing in these countries due to the increasing demand for alternative medicines and the rising prevalence of chronic diseases. Moreover, the increasing healthcare expenditure and the government's initiatives to improve healthcare infrastructure are also expected to drive the growth of the market.

Local special circumstances: Central Asia is a region with a diverse population, consisting of various ethnic groups and cultures. This diversity has led to the development of traditional medicines, which are widely used in the region. As a result, the market for Other Pharmaceuticals is highly competitive, with traditional medicines being the main competitor.

Underlying macroeconomic factors: The Central Asian economies have been growing steadily in the past few years, which has led to an increase in disposable income and healthcare expenditure. Moreover, the governments in the region are investing heavily in healthcare infrastructure, which is expected to further drive the growth of the market. However, the market is also facing challenges such as the lack of regulatory framework and the presence of counterfeit drugs, which could hinder the growth of the market in the long run.

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.