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Other Pharmaceuticals - Malta

Malta
  • The Other Pharmaceuticals market in Malta is anticipated to achieve a revenue of US$68.21m by the year 2024.
  • It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.66%, leading to a market volume of US$85.66m by 2029.
  • In terms of global comparison, United States is projected to generate the highest revenue of US$260.50bn in 2024.
  • Malta's thriving pharmaceutical industry is focused on developing innovative drugs for rare diseases, positioning the country as a key player in the global market.

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

Market Insights report

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 Malta has been experiencing steady growth in recent years.

    Customer preferences:
    Malta has a universal healthcare system, which means that the government covers the costs of most medical treatments and medications. However, there is still a demand for Other Pharmaceuticals, which includes over-the-counter drugs and supplements. Consumers in Malta are increasingly interested in natural and organic products, which has led to a rise in demand for herbal supplements and vitamins.

    Trends in the market:
    The Other Pharmaceuticals market in Malta has been growing steadily due to several factors. Firstly, the aging population in Malta has led to an increase in demand for medications and supplements. Additionally, the rise of e-commerce has made it easier for consumers to purchase products online, which has led to increased competition in the market. Finally, the COVID-19 pandemic has led to a surge in demand for immune-boosting supplements and other health products.

    Local special circumstances:
    Malta is a small island nation with a population of around 500,000 people. This means that the market for Other Pharmaceuticals is relatively small compared to larger countries. However, the country's universal healthcare system means that there is a high level of demand for medications and supplements.

    Underlying macroeconomic factors:
    Malta has a relatively stable economy, with a low unemployment rate and a high standard of living. This has led to a relatively high level of disposable income among consumers, which has contributed to the growth of the Other Pharmaceuticals market. Additionally, Malta's location in the Mediterranean makes it an attractive destination for tourists, which has led to increased demand for health products and supplements.

    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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