Other Pharmaceuticals - Malawi

Malawi

The Other Pharmaceuticals market in Malawi is anticipated to witness a significant growth in revenue, with projections indicating a rise to US$34.33m in 2024.
Furthermore, it is expected to maintain a steady annual growth rate of 3.28% (CAGR 2024-2029), resulting in a market volume of US$40.35m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to a staggering US$260.50bn in 2024.
Malawi's pharmaceutical market is witnessing a surge in demand for alternative medicines and traditional remedies in the Other Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Malawi has seen steady growth in recent years.

Customer preferences: Malawi's population is largely rural, and access to healthcare is limited. As a result, customers in the Other Pharmaceuticals market tend to prefer affordable and easily accessible medicines. Customers also tend to prefer traditional medicines, which are believed to be more effective in treating certain illnesses.

Trends in the market: The Other Pharmaceuticals market in Malawi has been growing steadily in recent years. This growth can be attributed to several factors, including increasing demand for affordable medicines, a growing population, and improvements in healthcare infrastructure. Additionally, the market has seen an influx of generic drugs, which are often more affordable than brand-name drugs.

Local special circumstances: Malawi is one of the poorest countries in the world, and the healthcare system is underfunded and understaffed. This has led to a shortage of medical supplies and a lack of access to healthcare for many Malawians. Additionally, the country has been hit hard by the HIV/AIDS epidemic, which has further strained the healthcare system.

Underlying macroeconomic factors: Malawi's economy is largely based on agriculture, and the country is highly dependent on foreign aid. The government has struggled to provide adequate funding for healthcare, and the healthcare system has been further strained by the COVID-19 pandemic. Despite these challenges, the Other Pharmaceuticals market in Malawi has continued to grow, driven by increasing demand for affordable and accessible medicines.

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.