Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in Southern Africa has been steadily growing in recent years, driven by a number of factors unique to the region.
Customer preferences: Customers in Southern Africa have shown a growing interest in alternative medicines and natural remedies, which has led to an increase in demand for other pharmaceuticals. Additionally, the region has a large population of individuals who suffer from chronic diseases such as HIV/AIDS, cancer, and diabetes, which has also contributed to the growth of the market.
Trends in the market: One of the key trends in the Other Pharmaceuticals market in Southern Africa is the increasing popularity of traditional medicines. Many consumers in the region prefer traditional medicines due to their perceived effectiveness and lower cost. This has led to the emergence of a number of local manufacturers producing traditional medicines, which has further fueled the growth of the market.Another trend in the market is the increasing demand for over-the-counter (OTC) drugs. Many consumers in the region prefer to self-medicate, and OTC drugs provide a convenient and affordable option. As a result, manufacturers are investing in the development of new OTC drugs and expanding their distribution networks to reach more consumers.
Local special circumstances: Southern Africa is a region with a high burden of disease, particularly with regards to HIV/AIDS. As a result, the government has implemented a number of policies and initiatives aimed at improving access to healthcare and medication. This has created a favorable environment for pharmaceutical manufacturers, as there is a significant demand for their products.
Underlying macroeconomic factors: The Southern African region has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has contributed to the growth of the Other Pharmaceuticals market, as consumers are able to afford more expensive medications. Additionally, the region has a large and growing population, which has also contributed to the growth of the market.
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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