Other Pharmaceuticals - Ethiopia

Ethiopia

In Ethiopia, the revenue in the Other Pharmaceuticals market is predicted to reach US$101.60m in 2024.
It is anticipated that there will be an annual growth rate of 5.20% from 2024 to 2029, resulting in a market volume of US$130.90m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$260.50bn in 2024.
Ethiopia's Other Pharmaceuticals market is experiencing a surge in demand for traditional herbal remedies and natural remedies.

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

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Currency

Analyst Opinion

The Other Pharmaceuticals market in Ethiopia has been steadily growing in recent years.

Customer preferences: Customers in Ethiopia are increasingly seeking out alternative pharmaceutical options, such as herbal medicines, due to cultural and religious beliefs. However, there is also a growing demand for modern pharmaceuticals as the country's healthcare system continues to develop.

Trends in the market: The Other Pharmaceuticals market in Ethiopia has been growing due to the increasing demand for affordable healthcare and the government's efforts to improve access to medicine. The market is dominated by generic drugs, which are more affordable than branded drugs. There is also a growing trend towards the production of generic drugs locally, which has led to increased competition in the market.

Local special circumstances: Ethiopia has a large population and a growing middle class, which has led to increased demand for healthcare services. However, the country's healthcare system is still in the early stages of development and there are significant challenges in terms of infrastructure and access to medicine. The government has made efforts to address these challenges through initiatives such as the Health Extension Program, which aims to improve access to healthcare in rural areas.

Underlying macroeconomic factors: Ethiopia is one of the fastest-growing economies in Africa, with a growing middle class and a young population. This has led to increased demand for healthcare services, including pharmaceuticals. The government has also made efforts to attract foreign investment in the healthcare sector, which has led to increased competition and innovation in the market. However, there are still significant challenges in terms of infrastructure and access to medicine, which will need to be addressed in order for the market to continue to grow.

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.