Other Pharmaceuticals - Egypt

Egypt

Highlights

The revenue generated in the Other Pharmaceuticals market in Egypt is estimated to reach US$516.70m by 2024.
It is projected to experience a steady annual growth rate (CAGR 2024-2029) of 5.93%, leading to a market volume of US$689.20m by 2029.
When comparing globally, United States is expected to generate the highest revenue in this market, with a projected revenue of US$260.50bn by 2024.
Egypt's growing market for other pharmaceuticals is driven by an increasing demand for alternative treatments and a rising awareness of holistic medicine.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Pharmaceuticals market in Egypt has been experiencing a steady growth in recent years.

Customer preferences: Egyptians have been increasingly relying on pharmaceuticals for their healthcare needs, leading to a rise in demand for Other Pharmaceuticals. This is due to the fact that Other Pharmaceuticals are used to treat a wide range of diseases and conditions, including those that are not covered by traditional medicines.

Trends in the market: One of the major trends in the Other Pharmaceuticals market in Egypt is the increasing availability of generic drugs. This has led to a decrease in the prices of Other Pharmaceuticals, making them more accessible to a larger portion of the population. Additionally, there has been a growing trend towards the use of natural and herbal remedies, which has also contributed to the growth of the Other Pharmaceuticals market.

Local special circumstances: Egypt has a large population and a high prevalence of chronic diseases such as diabetes and cardiovascular disease. This has led to an increased demand for Other Pharmaceuticals, as these drugs are often used to manage these conditions. Additionally, the government has been investing in the healthcare sector, which has led to an improvement in the overall healthcare infrastructure in the country.

Underlying macroeconomic factors: Egypt has been experiencing economic growth in recent years, which has led to an increase in disposable income among the population. This has contributed to the growth of the Other Pharmaceuticals market, as people are able to afford these drugs. Additionally, the country has a large and growing middle class, which is also driving demand for Other Pharmaceuticals. Finally, the government has been implementing policies to encourage foreign investment in the country, which has led to an increase in the number of pharmaceutical companies operating in Egypt.

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.