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.

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

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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.

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.