Pharmaceuticals - Pakistan

Pakistan

In 2024, the projected revenue in the Pharmaceuticals market in Pakistan is expected to reach a staggering US$2,055.00m.
Among the various markets, the largest one is Oncology Drugs, which is projected to have a market volume of US$181.20m in 2024.
Looking ahead, the revenue is expected to display an annual growth rate (CAGR 2024-2029) of 1.53%, resulting in a market volume of US$2,217.00m by 2029.
When compared globally, it is worth noting that United States is anticipated to generate the most revenue in the Pharmaceuticals market, with a projected revenue of US$630.30bn in 2024.
Pakistan's pharmaceutical market is experiencing a surge in demand for generic medicines due to their affordability and accessibility.

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

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

Pakistan, a country in South Asia, has been experiencing a steady growth in its Pharmaceuticals market in recent years.

Customer preferences: The pharmaceuticals market in Pakistan is mainly driven by the demand from the local population for affordable and accessible medicines. The majority of the population in Pakistan is low-income and relies heavily on public healthcare facilities for their medical needs. Therefore, the demand for low-cost generic medicines is high in the country.

Trends in the market: One of the major trends in the pharmaceuticals market in Pakistan is the increasing trend of outsourcing drug manufacturing to the country. Pakistan has a large pool of skilled labor and low labor costs, making it an attractive destination for pharmaceutical companies looking to reduce their manufacturing costs. This trend has led to an increase in the number of pharmaceutical companies setting up manufacturing facilities in Pakistan.Another trend in the market is the increasing focus on research and development (R&D) activities. The government of Pakistan has been taking steps to promote R&D in the pharmaceuticals sector by providing tax incentives and other benefits to companies engaged in R&D activities. This has led to an increase in the number of R&D centers and collaborations between local and international pharmaceutical companies.

Local special circumstances: Pakistan has a large population of over 200 million people, which makes it an attractive market for pharmaceutical companies. However, the country faces several challenges in the pharmaceuticals sector, including a lack of proper regulatory oversight, a weak intellectual property regime, and a fragmented distribution network. These challenges have led to issues such as counterfeit drugs and a lack of access to essential medicines in some parts of the country.

Underlying macroeconomic factors: The pharmaceuticals market in Pakistan is influenced by several macroeconomic factors, including the country's GDP growth rate, inflation rate, and government policies. The government of Pakistan has been taking steps to promote the pharmaceuticals sector by providing tax incentives, reducing tariffs on raw materials, and increasing public spending on healthcare. However, the country still faces challenges such as a weak infrastructure and a lack of skilled labor, which can hinder the growth of the pharmaceuticals sector.In conclusion, the pharmaceuticals market in Pakistan is growing steadily, driven by the demand for affordable and accessible medicines. The country's large population and low manufacturing costs make it an attractive destination for pharmaceutical companies, but challenges such as a weak regulatory regime and a fragmented distribution network need to be addressed to ensure sustained growth in the sector.

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.