Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in Oman has been growing steadily in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Omani consumers have shown a growing preference for natural and herbal remedies, leading to an increase in demand for alternative medicines and supplements. This trend is in line with global consumer preferences, as more people seek out natural and organic products in an effort to improve their health and wellness.
Trends in the market: The Other Pharmaceuticals market in Oman is characterized by a high level of competition, with both domestic and international players vying for market share. While the market is currently dominated by a few major players, there has been an increase in the number of smaller, niche companies entering the market in recent years. This trend is driven by a growing demand for specialized products that cater to specific health needs or conditions.
Local special circumstances: Oman's healthcare system is highly centralized, with the government playing a significant role in the provision and financing of healthcare services. This has led to a relatively stable market for pharmaceuticals, as the government has been able to regulate prices and ensure access to essential medicines. However, the government's dominance in the healthcare sector also means that private companies face significant regulatory hurdles when entering the market.
Underlying macroeconomic factors: Oman's economy has been growing steadily in recent years, driven by a combination of government investment in infrastructure projects and increased oil production. This has led to a growing middle class with increased purchasing power, which has in turn fueled demand for healthcare services and products. Additionally, Oman's strategic location at the crossroads of Asia, Europe, and Africa has made it an attractive market for international pharmaceutical companies looking to expand their operations in the region.
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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