Sensory Organ Drugs - Pakistan | Statista Market Forecast

In Pakistan, the revenue in the Sensory Organ Drugs market is estimated to reach US$23.21m in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of -3.26%, leading to a market volume of US$19.67m by 2029.
When comparing globally, United States is expected to generate the highest revenue, amounting to US$13.98bn in 2024.
In Pakistan, there is an increasing demand for sensory organ drugs, driven by the growing prevalence of eye and ear-related conditions.

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 Pakistan has been showing positive growth in recent years.

Customer preferences: Customers in Pakistan have been increasingly aware of the importance of taking care of their sensory organs, such as eyes, ears, and nose. This has led to a higher demand for drugs that cater to these specific needs. In addition, the aging population in Pakistan has also contributed to the growth of the Sensory Organ Drugs market.

Trends in the market: One of the major trends in the Sensory Organ Drugs market in Pakistan is the increasing demand for eye drops and ear drops. This can be attributed to the rising prevalence of eye and ear infections in the country. Another trend is the growing popularity of over-the-counter (OTC) drugs for sensory organ care. Customers in Pakistan prefer OTC drugs as they are readily available and cheaper than prescription drugs.

Local special circumstances: Pakistan is a developing country with a large population. The healthcare system in the country is not well-equipped to handle the needs of the entire population. As a result, many people in Pakistan rely on self-medication and OTC drugs for their healthcare needs. This has contributed to the growth of the Sensory Organ Drugs market in the country.

Underlying macroeconomic factors: Pakistan has been experiencing steady economic growth in recent years. This has led to an increase in disposable income among the population. As a result, people in Pakistan are now more willing to spend money on healthcare products, including drugs for sensory organ care. In addition, the government of Pakistan has been taking steps to improve the healthcare system in the country. This has led to an increase in the availability of drugs for sensory organ care in Pakistan.

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 pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.