Other Pharmaceuticals - Zimbabwe

Zimbabwe

Highlights

In Zimbabwe, the revenue in the Other Pharmaceuticals market is projected to reach US$23.21m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 2.17%, resulting in a market volume of US$25.84m by 2029.
When compared globally, United States will generate the highest revenue in the market, amounting to US$260.50bn in 2024.
Zimbabwe's Other Pharmaceuticals market is experiencing a surge in demand for herbal remedies and traditional medicines.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Pharmaceuticals market in Zimbabwe has been experiencing significant growth over the past few years.

Customer preferences: Zimbabweans have been increasingly seeking out alternative medicine and natural remedies, leading to a rise in demand for Other Pharmaceuticals. Additionally, the country's aging population has also contributed to the growth of the market, as they require more medication to manage their health.

Trends in the market: The Other Pharmaceuticals market in Zimbabwe has been expanding due to the entry of new players and the development of innovative products. Local manufacturers are also increasing their production capacity to meet the growing demand. Furthermore, the government has been encouraging the growth of the pharmaceutical industry by providing incentives to local manufacturers.

Local special circumstances: Zimbabwe's healthcare system has been struggling due to a lack of resources and infrastructure. As a result, many Zimbabweans rely on alternative medicine and traditional healers. However, there has been a growing awareness of the importance of modern medicine, leading to an increase in demand for pharmaceutical products. The government has also been working to improve the healthcare system by investing in infrastructure and increasing funding for healthcare services.

Underlying macroeconomic factors: Zimbabwe's economy has been recovering from a period of hyperinflation and political instability. The government has been implementing economic reforms to stabilize the economy and attract foreign investment. This has led to an increase in disposable income and a growing middle class, which has contributed to the growth of the Other Pharmaceuticals market. Additionally, the COVID-19 pandemic has highlighted the importance of healthcare and has led to an increase in demand for pharmaceutical products.

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.