Other Pharmaceuticals - Pakistan

Pakistan

Highlights

In Pakistan, the revenue in the Other Pharmaceuticals market is projected to reach US$432.20m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.05%, resulting in a market volume of US$527.00m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$260.50bn in 2024.
Pakistan's other pharmaceutical market is experiencing a surge in demand for herbal and traditional medicines.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The pharmaceutical industry in Pakistan has been growing rapidly in recent years, with a focus on the production of generic drugs. In this context, the Other Pharmaceuticals market in Pakistan has also seen significant development.

Customer preferences: In Pakistan, customers are increasingly looking for affordable and high-quality medicines. The Other Pharmaceuticals market caters to this demand by offering a range of generic drugs that are cheaper than their branded counterparts. Customers also prefer products that are easily available and have a good reputation in the market.

Trends in the market: The Other Pharmaceuticals market in Pakistan has been growing steadily in recent years. This growth can be attributed to several factors. Firstly, the government has been promoting the use of generic drugs as a way to reduce healthcare costs. This has led to an increase in demand for generic drugs, including those in the Other Pharmaceuticals market. Secondly, the market has become more competitive, with new players entering the market and existing players expanding their product offerings. Thirdly, there has been an increase in the prevalence of chronic diseases, which has led to an increase in demand for drugs in the Other Pharmaceuticals market.

Local special circumstances: Pakistan has a large population, which creates a significant demand for pharmaceutical products. However, the country also faces several challenges in terms of healthcare infrastructure and regulation. The pharmaceutical industry is heavily regulated, and it can be difficult for new players to enter the market. Additionally, the country faces challenges in terms of counterfeit drugs, which can reduce customer confidence in the market.

Underlying macroeconomic factors: Pakistan's economy has been growing steadily in recent years, which has led to an increase in disposable income. This has contributed to an increase in demand for pharmaceutical products, including those in the Other Pharmaceuticals market. Additionally, the country has a young population, which is more likely to require healthcare services. This has also contributed to the growth of the pharmaceutical industry in Pakistan.

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.