Other Pharmaceuticals - Turkmenistan

Turkmenistan

The Other Pharmaceuticals market in Turkmenistan is expected to see a significant increase in revenue, with projections indicating that it will reach US$149.10m in 2024.
Furthermore, it is anticipated that the market will continue to grow at a steady pace, with an annual growth rate (CAGR 2024-2029) of 5.20%.
This growth trajectory is expected to result in a market volume of US$192.10m by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in this market, with an estimated amount of US$260.50bn in 2024.
The Turkmenistani market for other pharmaceuticals is seeing a surge in demand due to the government's focus on improving healthcare infrastructure and increasing access to medication.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Turkmenistan has been showing signs of growth in recent years.

Customer preferences: Turkmenistan has a growing population with an increasing demand for healthcare services. The government has been investing in the healthcare sector, which has resulted in an increase in demand for pharmaceuticals. Customers in Turkmenistan prefer locally produced pharmaceuticals, which are considered to be of high quality and affordable.

Trends in the market: The Other Pharmaceuticals market in Turkmenistan has been growing in recent years due to the increasing demand for healthcare services. The market has been driven by the government's investment in the healthcare sector, which has resulted in an increase in demand for pharmaceuticals. The market is dominated by locally produced pharmaceuticals, which are considered to be of high quality and affordable. The market is also seeing an increase in the number of international pharmaceutical companies entering the market.

Local special circumstances: Turkmenistan is a country with a centralized economy, and the government plays a significant role in the healthcare sector. The government has been investing heavily in the healthcare sector, which has resulted in an increase in demand for pharmaceuticals. The government has also been promoting the development of the pharmaceutical industry, which has resulted in the growth of the local pharmaceutical industry.

Underlying macroeconomic factors: Turkmenistan's economy is heavily dependent on its natural resources, particularly natural gas. The country has been investing in diversifying its economy, and the healthcare sector has been identified as a priority area. The government has been investing heavily in the healthcare sector, which has resulted in an increase in demand for pharmaceuticals. The government's investment in the healthcare sector has also resulted in the growth of the local pharmaceutical industry. The country's strategic location between Europe and Asia also makes it an attractive market for international pharmaceutical companies.

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.