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 4.13% 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.

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

Market

Region

Region comparison

Currency

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.

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.