Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in GCC has been experiencing significant growth in recent years.
Customer preferences: One of the main drivers of this growth is the increasing demand for generic drugs in the region. Customers are becoming more cost-conscious and are opting for cheaper alternatives to branded drugs. In addition, the aging population in the GCC countries is leading to an increase in demand for pharmaceutical products.
Trends in the market: Saudi Arabia is the largest market for pharmaceuticals in the GCC, accounting for more than 50% of the market share. The country is also the largest producer of pharmaceuticals in the region. The UAE is the second-largest market, followed by Kuwait, Qatar, Oman, and Bahrain. The market for other pharmaceuticals, which includes drugs for chronic diseases and over-the-counter medications, is expected to grow at a faster pace than the market for branded drugs.
Local special circumstances: The GCC countries have a high prevalence of chronic diseases such as diabetes, hypertension, and cancer. This has led to an increase in demand for drugs that treat these diseases. In addition, there is a growing trend towards self-medication, which is driving the demand for over-the-counter medications.
Underlying macroeconomic factors: The GCC countries have a high per capita income, which is driving the demand for pharmaceutical products. In addition, the governments in the region are investing heavily in healthcare infrastructure, which is further boosting the growth of the pharmaceutical industry. The GCC countries are also home to a large number of expatriates, who are driving the demand for pharmaceutical products from their home countries.In conclusion, the Other Pharmaceuticals market in GCC is expected to continue growing in the coming years, driven by factors such as increasing demand for generic drugs, an aging population, and a high prevalence of chronic diseases. The market is also expected to benefit from government investments in healthcare infrastructure and the growing trend towards self-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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