Other Pharmaceuticals - Ukraine

Ukraine

The Other Pharmaceuticals market in Ukraine is expected to witness significant growth in the coming years.
According to projections, the market's revenue is set to reach US$246.60m by 2024.
The forecast indicates that the market will experience a steady annual growth rate of 4.11% between 2024 and 2029, resulting in a market volume of US$301.60m by the end of 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the Other Pharmaceuticals market.
In 2024, United States is projected to generate a staggering US$260.50bn in revenue.
This highlights the dominance of the United States in the global market.
Ukraine's other pharmaceutical market is experiencing a surge in demand for herbal remedies and traditional medicines.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Ukrainian customers tend to favor generic drugs due to their lower cost compared to branded drugs. This preference for cheaper drugs has led to an increase in the demand for Other Pharmaceuticals in the country.

Trends in the market: The Other Pharmaceuticals market in Ukraine has been expanding due to the growing demand for drugs that treat chronic diseases such as diabetes and cardiovascular diseases. Additionally, the market has seen an increase in demand for drugs that treat mental health disorders such as depression and anxiety.

Local special circumstances: Ukraine has a large population of elderly citizens who require medication to manage various health conditions. This has contributed to the growth of the Other Pharmaceuticals market in the country. Additionally, the ongoing conflict in the eastern region of Ukraine has led to an increase in the demand for drugs to treat injuries sustained during the conflict.

Underlying macroeconomic factors: The Ukrainian government has implemented reforms aimed at improving the healthcare system in the country, including the drug registration process and the establishment of a centralized procurement system for drugs. These reforms have contributed to the growth of the Other Pharmaceuticals market in Ukraine. Additionally, the country's economic growth and increasing disposable income have led to an increase in the demand for healthcare services, including pharmaceuticals.

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.