Other Pharmaceuticals - Seychelles

Seychelles

The revenue in the Other Pharmaceuticals market in Seychelles is estimated to reach US$4.20m in 2024.
It is expected to exhibit an annual growth rate of 3.80% (CAGR 2024-2029), leading to a market volume of US$5.06m by 2029.
In terms of global comparison, United States is projected to generate the highest revenue of US$260.50bn in 2024.
Seychelles is witnessing a growing demand for natural and herbal medicines in the Other Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Seychelles has been experiencing steady growth in recent years.

Customer preferences: Customers in Seychelles have been showing an increasing interest in alternative medicine and natural remedies. This trend has been driving the demand for other pharmaceuticals, which includes products such as herbal supplements, vitamins, and homeopathic remedies. Consumers are becoming more health-conscious and are seeking out products that are perceived as being more natural and less harmful to the body.

Trends in the market: The Seychelles government has been taking steps to improve the healthcare system in the country. This has led to an increase in healthcare spending and a greater emphasis on preventative medicine. As a result, the demand for other pharmaceuticals has been on the rise. Additionally, the COVID-19 pandemic has highlighted the importance of maintaining good health, which has further driven demand for these types of products.

Local special circumstances: Seychelles is a small island nation with a population of just under 100,000 people. The country relies heavily on tourism, which has been impacted by the COVID-19 pandemic. As a result, the government has been looking for ways to diversify the economy. One area of focus has been the development of the healthcare sector, which has the potential to become a new source of economic growth.

Underlying macroeconomic factors: Seychelles has a relatively high GDP per capita compared to other countries in the region. This has allowed consumers to have more disposable income, which they can use to purchase other pharmaceutical products. Additionally, the country has a well-developed regulatory framework for pharmaceuticals, which has helped to ensure the safety and quality of these products. This has given consumers confidence in the market and has helped to drive demand.

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.