Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in G20 has been experiencing significant growth in recent years, driven by various factors such as increasing demand for generic drugs, rising healthcare expenditure, and the growing prevalence of chronic diseases.
Customer preferences: Customers in the Other Pharmaceuticals market in G20 are increasingly opting for generic drugs due to their lower cost compared to branded drugs. This trend is particularly prevalent in emerging economies where healthcare expenditure is relatively low, and there is a high burden of disease. Additionally, customers are also looking for drugs that are more effective and have fewer side effects.
Trends in the market: The Other Pharmaceuticals market in G20 is witnessing a significant shift towards personalized medicine. This trend is driven by advancements in technology, such as genomic sequencing, which allows for the identification of specific genetic variations that may impact drug efficacy. Furthermore, the market is also witnessing a rise in the use of biologics, which are drugs made from living cells and are highly effective in treating various diseases such as cancer, autoimmune disorders, and infectious diseases.
Local special circumstances: In the United States, the Other Pharmaceuticals market is highly competitive, with a large number of players vying for market share. The market is also heavily regulated, with the FDA playing a significant role in drug approval and pricing. In Europe, the market is characterized by a high degree of fragmentation, with a large number of small and medium-sized enterprises operating in the space. In China, the market is dominated by domestic players, with the government playing a significant role in drug pricing and reimbursement.
Underlying macroeconomic factors: The Other Pharmaceuticals market in G20 is driven by various macroeconomic factors such as rising healthcare expenditure, increasing prevalence of chronic diseases, and the aging population. Additionally, the market is also influenced by government policies and regulations, which impact drug pricing, reimbursement, and market access. Furthermore, technological advancements and innovation are also key drivers of the market, with companies investing heavily in research and development to bring new and innovative drugs to market.
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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