Other Pharmaceuticals - United Arab Emirates

United Arab Emirates

Highlights

In the United Arab Emirates, the revenue in the market Other Pharmaceuticals market is forecasted to reach US$830.80m in 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 5.04%, leading to a market volume of US$1.06bn by 2029.
Comparing in the United Arab Emirates to other countries globally, United States is expected to generate the highest revenue of US$260.50bn in 2024.
The United Arab Emirates is experiencing a surge in demand for alternative pharmaceutical products and therapies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The United Arab Emirates (UAE) is known for its booming economy, with a high demand for healthcare services. The Other Pharmaceuticals market in UAE is no exception, as it has been experiencing significant growth in recent years.

Customer preferences: The UAE has a diverse population with varying healthcare needs, resulting in a demand for a wide range of pharmaceutical products. Customers in the UAE tend to prefer high-quality drugs that are affordable and readily available. Additionally, there is an increasing demand for natural and herbal medicines, as customers become more health-conscious.

Trends in the market: The Other Pharmaceuticals market in UAE has been growing steadily, driven by factors such as an aging population, increasing prevalence of chronic diseases, and rising healthcare expenditure. The market has also been witnessing a shift towards generic drugs, as customers seek more affordable options. Additionally, there has been a rise in the number of online pharmacies, providing customers with easy access to a wide range of pharmaceutical products.

Local special circumstances: The UAE has a well-developed healthcare system, with both public and private healthcare providers. The government has been investing heavily in healthcare infrastructure, with a focus on improving the quality of healthcare services. Additionally, the UAE has a high per capita income, which has resulted in a high demand for premium healthcare services.

Underlying macroeconomic factors: The UAE's economy is heavily dependent on oil exports, which has resulted in fluctuations in the country's GDP growth. However, the government has been taking steps to diversify the economy, with a focus on developing non-oil sectors such as healthcare. The UAE's strategic location has also made it a hub for medical tourism, further boosting the demand for pharmaceutical products.In conclusion, the Other Pharmaceuticals market in UAE is expected to continue its growth trajectory, driven by factors such as an aging population, rising healthcare expenditure, and increasing demand for affordable drugs. The government's focus on developing the healthcare sector, coupled with the country's high per capita income, is expected to further boost the market's growth.

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.