Other Pharmaceuticals - Tanzania

Tanzania

In Tanzania, the revenue in the market of Other Pharmaceuticals market is forecasted to reach US$88.33m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.75%, leading to a market volume of US$111.40m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$260.50bn in 2024.
Tanzania's Other Pharmaceuticals market is witnessing a surge in demand driven by increasing healthcare awareness and government initiatives.

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

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Analyst Opinion

The Other Pharmaceuticals market in Tanzania has been experiencing significant growth in recent years.

Customer preferences: Tanzanian customers have shown a preference for traditional medicines, which has limited the growth of the Other Pharmaceuticals market. However, as the country's healthcare system continues to develop, there has been a shift towards modern medicine, which has created opportunities for the Other Pharmaceuticals market.

Trends in the market: The Other Pharmaceuticals market in Tanzania has been growing steadily due to increased demand for modern medicine. The market has also been boosted by the government's efforts to improve the healthcare system, including increasing access to healthcare facilities and training healthcare professionals.

Local special circumstances: Tanzania is a low-income country with a large population, which presents unique challenges for the healthcare system. The country also has a high burden of infectious diseases, such as malaria and HIV/AIDS, which has led to an increased demand for pharmaceuticals.

Underlying macroeconomic factors: Tanzania's economy has been growing steadily in recent years, which has led to an increase in disposable income and improved access to healthcare. The government has also been investing in infrastructure and education, which has helped to improve the healthcare system. However, the country still faces challenges such as limited access to healthcare facilities in rural areas and a shortage of healthcare professionals.

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.