Sensory Organ Drugs - Tanzania | Statista Market Forecast

The Sensory Organ Drugs market in Tanzania is anticipated to witness a significant surge in revenue, with projections indicating a staggering figure of US$4.74m in 2024.
Moreover, this market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of -2.62%, leading to a substantial increase in market volume, estimated to be around US$4.15m by 2029.
In terms of global comparison, United States is poised to generate the highest revenue in this market, with an impressive figure of US$13.98bn projected for 2024.
Tanzania's market for sensory organ drugs is experiencing a surge in demand due to the country's aging population and increasing prevalence of eye and ear-related ailments.

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 demand for Sensory Organ Drugs in Tanzania has been increasing steadily in recent years.

Customer preferences: Tanzania has a high prevalence of eye and ear diseases, which has led to an increase in demand for Sensory Organ Drugs. The country has a large population of elderly citizens who are more prone to these diseases. Additionally, the lack of access to proper healthcare facilities in remote areas has led to a rise in the number of cases.

Trends in the market: The Sensory Organ Drugs market in Tanzania has been witnessing a shift towards generic drugs due to their affordability. The government has also been promoting the use of generic drugs, which has further boosted their demand. However, the market for branded drugs is still significant, especially in urban areas where people are more willing to pay for quality healthcare.

Local special circumstances: Tanzania has a large population of people living in rural areas, which often lack access to proper healthcare facilities. This has led to a rise in the number of cases of eye and ear diseases, which has further boosted the demand for Sensory Organ Drugs. Additionally, the country has a high prevalence of infectious diseases such as trachoma, which can lead to blindness if left untreated. This has led to a focus on preventive measures and early treatment, further driving the demand for Sensory Organ Drugs.

Underlying macroeconomic factors: Tanzania has been experiencing steady economic growth in recent years, which has led to an increase in disposable income. This has enabled people to spend more on healthcare, including Sensory Organ Drugs. Additionally, the government has been investing in healthcare infrastructure, which has improved access to healthcare facilities in remote areas. This has further boosted the demand for Sensory Organ Drugs.

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.