Sensory Organ Drugs - Angola

Angola

In Angola, the revenue in the Sensory Organ Drugs market is estimated to reach US$6.03m by 2024.
It is projected to exhibit a compounded annual growth rate (CAGR 2024-2029) of -3.49%, leading to a market volume of US$5.05m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$13,980.00m in 2024.
Despite the limited availability of sensory organ drugs in Angola, there is a growing demand for these medications due to increasing awareness about sensory health issues.

Key regions: Australia, France, Brazil, Italy, India

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Analyst Opinion

The Sensory Organ Drugs market in Angola has been experiencing steady growth in recent years.

Customer preferences: Angolan customers tend to favor sensory organ drugs that treat common conditions such as allergies, dry eyes, and glaucoma. They also prioritize drugs that are affordable and readily available.

Trends in the market: One trend that has been observed in the Angolan market is the increasing demand for generic drugs. This is due to the lower cost of generic drugs compared to branded drugs. Another trend is the growing awareness among Angolan consumers about the importance of eye health, which has led to an increase in the demand for drugs that treat eye conditions.

Local special circumstances: Angola is a developing country with a relatively low GDP per capita, which means that many consumers are price-sensitive. Additionally, the country has a high prevalence of eye diseases such as trachoma and cataracts, which has led to a high demand for drugs that treat these conditions.

Underlying macroeconomic factors: The Angolan economy has been growing steadily in recent years, driven by the oil and gas sector. However, the country is heavily reliant on oil exports, which makes it vulnerable to fluctuations in oil prices. Additionally, the country has a high level of poverty and inequality, which affects the purchasing power of many consumers.

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.