Sensory Organ Drugs - Iran

Iran

The projected revenue for the Sensory Organ Drugs market in Iran is estimated to reach US$179.70m by 2024.
It is anticipated that the market will experience an annual growth rate (CAGR 2024-2029) of -4.07%, leading to a market volume of US$146.00m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with US$13,980.00m in 2024.
Iran is at the forefront of sensory organ drug research, with significant advancements in ocular and auditory therapies.

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

Market

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Analyst Opinion

The Sensory Organ Drugs market in Iran has been experiencing significant growth in recent years.

Customer preferences: Customers in Iran have been showing an increasing demand for Sensory Organ Drugs due to the rising incidence of sensory organ-related disorders. The aging population is also a major factor driving the demand for these drugs.

Trends in the market: The Sensory Organ Drugs market in Iran has been witnessing a shift towards more advanced and innovative drugs. This is mainly due to the increasing awareness among customers regarding the benefits of these drugs. The market is also witnessing a trend towards the development of combination drugs that target multiple sensory organs.

Local special circumstances: Iran has a large population of elderly people, which is a major factor driving the demand for Sensory Organ Drugs. Moreover, the prevalence of sensory organ-related disorders such as cataracts, glaucoma, and age-related macular degeneration is also high in the country.

Underlying macroeconomic factors: The Iranian pharmaceutical market has been growing rapidly in recent years, driven by factors such as population growth, rising income levels, and increasing healthcare expenditure. The government has also been taking steps to promote the local pharmaceutical industry, which has led to an increase in the production of drugs in the country. However, the market is also facing challenges such as the high cost of drug development and the lack of access to advanced technologies.

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.