Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in Peru has shown promising growth in recent years, driven by various factors such as customer preferences and underlying macroeconomic factors.
Customer preferences: Peruvian customers have shown a growing preference for natural and alternative medicines, leading to increased demand for herbal and homeopathic medicines. This trend has also been observed in other parts of Latin America, where customers are increasingly opting for natural remedies over conventional medicines. Additionally, there is a growing demand for generic medicines due to their affordability and accessibility.
Trends in the market: The Other Pharmaceuticals market in Peru has been witnessing a shift towards more specialized and high-value medicines, including biologics and biosimilars. This trend is driven by the growing prevalence of chronic diseases such as cancer and diabetes, which require specialized medicines for treatment. Furthermore, there has been an increasing focus on research and development of new medicines in Peru, which has led to the introduction of several new drugs in the market.
Local special circumstances: Peru has a large indigenous population that relies heavily on traditional medicines for healthcare. This has led to the development of a thriving market for herbal and homeopathic medicines in the country. Additionally, the country has a large informal sector, which has led to the proliferation of counterfeit medicines in the market. This has prompted the government to take strict measures to regulate the market and ensure the safety and efficacy of medicines.
Underlying macroeconomic factors: Peru has a rapidly growing economy, which has led to an increase in healthcare spending. The government has also taken several measures to improve access to healthcare, including the introduction of a universal healthcare system. Furthermore, the country has a large and growing middle class, which has led to an increase in demand for healthcare services and medicines. These factors have contributed to the growth of the Other Pharmaceuticals market in Peru.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
