Other Pharmaceuticals - United States

United States

Highlights

The Other Pharmaceuticals market in the United States is expected to witness a significant growth in revenue, with projections indicating it will reach a staggering US$260.50bn by 2024.
This growth is further anticipated to continue at an annual growth rate of 3.49% from 2024 to 2029, resulting in a market volume of US$309.20bn by the end of the forecast period.
In comparison to other countries, United States is expected to generate the highest revenue in the Other Pharmaceuticals market, with US$260.50bn projected for 2024.
The United States has seen a surge in demand for alternative pharmaceuticals as consumers seek natural and holistic remedies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in the United States are increasingly interested in alternative medicines and treatments. This has led to a rise in demand for Other Pharmaceuticals, which includes products such as herbal supplements, vitamins, and minerals. Consumers are seeking out natural remedies and are willing to pay a premium for high-quality products that are perceived to be safer and more effective than traditional pharmaceuticals.

Trends in the market: One major trend in the Other Pharmaceuticals market is the increasing popularity of dietary supplements, which are a type of Other Pharmaceuticals. The demand for dietary supplements has been driven by a growing interest in health and wellness, as well as an aging population that is looking for ways to maintain their health and vitality. Another trend is the rise of e-commerce, which has made it easier for consumers to access a wide range of Other Pharmaceuticals products from around the world.

Local special circumstances: The United States has a highly developed healthcare system, which has helped to drive the growth of the Other Pharmaceuticals market. Consumers in the United States have access to a wide range of healthcare products and services, including prescription drugs, over-the-counter medications, and alternative therapies. This has created a highly competitive market, with many companies vying for market share.

Underlying macroeconomic factors: The growth of the Other Pharmaceuticals market in the United States is driven by a number of underlying macroeconomic factors. These include a growing interest in health and wellness, an aging population, and a rise in disposable income. In addition, the United States has a highly developed healthcare system, which has helped to create a strong demand for healthcare products and services. Finally, the rise of e-commerce has made it easier for consumers to access a wide range of Other Pharmaceuticals products from around the world.

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.