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Other Pharmaceuticals - Lesotho

Lesotho
  • The Lesotho Other Pharmaceuticals market is expected to experience significant growth in the coming years.
  • According to projections, the market's revenue is estimated to reach US$8.91m in 2024.
  • This growth is anticipated to continue with an annual growth rate of 4.12% between 2024 and 2029, leading to a market volume of US$10.91m by 2029.
  • When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Other Pharmaceuticals market.
  • In 2024, the projected revenue for the United States is a staggering US$260.50bn.
  • This highlights the significant market dominance of the United States in this sector.
  • Lesotho's Other Pharmaceuticals market is witnessing a rise in demand for traditional herbal medicines.

Definition:
The market Other Pharmaceuticals covers revenues for areas that are not specifically mentioned in the other markets, such as psychotropic or gastroenterology drugs and less expensive but widely used drugs, such as cold and cough remedies or analgesics.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

In-Scope

  • Psychotropic drugs
  • Gastroenterology
  • Cold and cough remedies
  • Antibiotics
  • Women's health
  • Analgesics

Out-Of-Scope

  • Veterinary drugs
  • Medical devices
Pharmaceuticals: market data & analysis - Cover

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Pharmaceuticals: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Other Pharmaceuticals market in Lesotho has been experiencing significant growth in recent years.

    Customer preferences:
    Lesotho has a small population, which means that the demand for pharmaceuticals is relatively low compared to other countries. However, the country has a high burden of disease, particularly HIV/AIDS, which has led to a significant demand for antiretroviral therapy (ART). As a result, the Other Pharmaceuticals market in Lesotho is dominated by ART drugs.

    Trends in the market:
    The Lesotho government has been working to improve access to healthcare in the country, which has led to an increase in the number of people receiving ART. This has driven the growth of the Other Pharmaceuticals market in Lesotho. In addition, there has been an increase in the number of private healthcare providers in the country, which has also contributed to the growth of the market.

    Local special circumstances:
    Lesotho is a landlocked country with a high prevalence of HIV/AIDS. The Lesotho government has made efforts to address the HIV/AIDS epidemic in the country, including implementing a national HIV/AIDS strategic plan. In addition, Lesotho has a high burden of tuberculosis (TB), which has also contributed to the demand for pharmaceuticals in the country.

    Underlying macroeconomic factors:
    Lesotho is one of the poorest countries in the world, with a GDP per capita of less than $1,500. The country relies heavily on foreign aid and remittances from Basotho working in South Africa. This has limited the government's ability to invest in healthcare infrastructure and has led to a reliance on external funding to support the healthcare system. Despite these challenges, the Lesotho government has made progress in improving access to healthcare in the country, which has contributed to the growth of the Other Pharmaceuticals market.

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Global pharmaceutical industry - statistics & facts

    The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.
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