Sensory Organ Drugs - Bahrain | Statista Market Forecast

The Sensory Organ Drugs market in Bahrain is expected to witness a significant growth in revenue, reaching a projected value of US$3.57m in 2024.
Furthermore, it is anticipated that the market will continue to expand at an annual growth rate of -3.40% from 2024 to 2029, resulting in a market volume of US$3.01m by the end of the forecast period.
When compared to other countries globally, United States is expected to generate the highest revenue in the Sensory Organ Drugs market, with a staggering US$13.98bn in 2024.
Bahrain is witnessing a rising demand for sensory organ drugs, driven by a growing elderly population and increasing awareness about eye and ear health.

Definition:
This market covers ophthalmologicals and otologicals, i.e., drugs for the sensory organs eye and ear, respectively. Ophthalmologicals are used to treat diseases of the eye such as wet age-related macular degeneration, geographic atrophy, and glaucoma. Typical dosage forms are eye drops or injections into the eye (intravitreal) and, in the case of otologicals, through the eardrum into the middle ear.

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: Regeneron Pharmaceuticals, Novartis, Bayer, Alcon, AbbVie

Ophthalmologicals
Otologicals

Respiratory system
Ophthalmic devices, such as diagnostic and surgical devices or glasses and contact lenses
Dermatology, skin treatment
Painkillers, analgesics

The Sensory Organ Drugs market in Bahrain has been showing steady growth over the past few years.

Customer preferences: Bahrain has a high prevalence of eye diseases such as glaucoma and cataracts, which has led to an increase in demand for sensory organ drugs. Additionally, the aging population in Bahrain has also contributed to the growth of the market, as the elderly are more susceptible to sensory organ disorders.

Trends in the market: There has been a shift towards the use of combination drugs for the treatment of sensory organ disorders in Bahrain. Combination drugs offer the advantage of convenience and cost-effectiveness, which has led to an increase in their usage. Furthermore, there has been a growing trend towards the use of topical drugs for the treatment of eye diseases, as they are less invasive and have fewer side effects compared to other forms of treatment.

Local special circumstances: The government of Bahrain has been taking initiatives to improve the healthcare system in the country, which has led to an increase in the availability of sensory organ drugs. Additionally, the government has also been promoting medical tourism, which has led to an increase in the number of patients seeking treatment for sensory organ disorders in Bahrain.

Underlying macroeconomic factors: Bahrain has a strong economy, which has led to an increase in healthcare spending in the country. Furthermore, the government has been investing heavily in infrastructure development, which has led to an increase in the number of hospitals and healthcare facilities in the country. This has led to an increase in the availability of sensory organ drugs in Bahrain.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.