Key regions: China, Europe, Australia, United States, Germany
The demand for pharmaceuticals in Zambia has been growing steadily in recent years due to several factors such as population growth, increasing urbanization, and rising incomes. This has led to an expansion of the Other Pharmaceuticals market in the country.
Customer preferences: Zambian consumers have shown a growing preference for generic drugs due to their lower cost compared to branded products. This has resulted in an increase in the production and sales of generic drugs in the Other Pharmaceuticals market. Additionally, there is a growing demand for over-the-counter (OTC) drugs, which can be purchased without a prescription.
Trends in the market: The Other Pharmaceuticals market in Zambia has been experiencing strong growth in recent years, driven by the increasing demand for generic drugs and OTC products. The market is also benefiting from the expansion of the healthcare sector in the country, which is creating new opportunities for pharmaceutical companies. Furthermore, the government has been taking steps to improve access to healthcare by investing in the development of infrastructure and increasing funding for healthcare services.
Local special circumstances: One of the key challenges facing the Other Pharmaceuticals market in Zambia is the lack of regulation and oversight, which has led to the proliferation of counterfeit and substandard drugs. This has undermined consumer confidence in the market and created a need for greater regulation and enforcement. Furthermore, there is a shortage of trained healthcare professionals in the country, which has limited the availability of healthcare services in some areas.
Underlying macroeconomic factors: Zambia's economy has been growing steadily in recent years, driven by the mining and agriculture sectors. This has led to rising incomes and increased demand for healthcare services, including pharmaceuticals. However, the country's economy is heavily dependent on commodity exports, which makes it vulnerable to fluctuations in global commodity prices. Additionally, the country's high debt levels and fiscal deficit have raised concerns about its long-term economic stability.
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.
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