Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Germany, Japan, Europe
The Pharmaceuticals market in Seychelles has been experiencing steady growth in recent years.
Customer preferences: Seychelles has a small population, and the majority of the pharmaceuticals are imported. The customers in Seychelles prefer branded drugs over generic drugs, which has contributed to the growth of the market. The customers also prefer drugs that are manufactured by reputable companies and have a proven track record of efficacy.
Trends in the market: One of the major trends in the pharmaceuticals market in Seychelles is the increasing demand for chronic disease medications. The prevalence of chronic diseases such as diabetes and hypertension has been increasing in Seychelles, leading to a higher demand for related medications. Another trend is the increasing demand for over-the-counter medications, as customers seek to self-medicate for minor ailments.
Local special circumstances: Seychelles is a small island nation that relies heavily on tourism. The COVID-19 pandemic has had a significant impact on the economy, including the pharmaceuticals market. The government has had to reallocate resources to combat the pandemic, which has affected the availability of some medications. Additionally, the limited storage and transportation infrastructure in Seychelles can make it challenging to maintain a consistent supply of medications.
Underlying macroeconomic factors: The Seychelles economy has been growing steadily in recent years, driven by the tourism industry and the development of the offshore financial sector. However, the country faces challenges such as high levels of debt and a high cost of living. The government has been implementing policies to reduce the cost of healthcare, including increasing the availability of generic medications. The pharmaceuticals market in Seychelles is also affected by global trends such as the increasing prevalence of chronic diseases and the growing demand for personalized medicine.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)