Pharmaceuticals - Southern Asia

Southern Asia

In 2024, the projected revenue in the Pharmaceuticals market in Southern Asia is expected to reach US$18.14bn.
among the various markets within the market, the largest one is Oncology Drugs which is projected to have a market volume of US$2.21bn in 2024.
Looking ahead, the revenue is expected to demonstrate a steady annual growth rate (CAGR 2024-2029) of 3.22%.
This growth rate will result in a market volume of US$21.25bn by the year 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, reaching US$630.30bn in 2024.
This signifies the significance of the Pharmaceuticals market in Southern Asia.
In Southern Asia, India leads the way in pharmaceuticals with its robust domestic market and significant contributions to global drug manufacturing.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

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: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

Pharmaceuticals market in Southern Asia has been witnessing steady growth in recent years.

Customer preferences: The customers in Southern Asia have been demanding high-quality, affordable medicines. They are more inclined towards generic medicines due to their cost-effectiveness. Customers also prefer medicines that are easily accessible and available in their local pharmacies.

Trends in the market: India, being the largest market in Southern Asia, has witnessed a surge in the demand for generic medicines. The Indian government has been promoting the use of generic medicines to make healthcare affordable for all. The pharmaceutical companies are also focusing on research and development to introduce new and innovative medicines. Bangladesh has also been witnessing growth in the pharmaceuticals market due to the increasing demand for essential medicines. The government has been taking steps to ensure the availability of affordable medicines to the masses.

Local special circumstances: The pharmaceuticals market in Southern Asia is highly regulated. The governments in the region have been taking steps to ensure the availability of affordable medicines to the masses. The governments have also been promoting the use of generic medicines to make healthcare affordable for all. The pharmaceutical companies in the region have been focusing on research and development to introduce new and innovative medicines.

Underlying macroeconomic factors: The pharmaceuticals market in Southern Asia has been growing due to the increasing population and rising healthcare expenditure. The governments in the region have been investing in healthcare infrastructure to improve healthcare facilities. The increasing prevalence of chronic diseases has also been driving the demand for medicines in the region. The pharmaceuticals market in Southern Asia is expected to witness further growth in the coming years due to the increasing demand for medicines and the government's focus on improving healthcare facilities.

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.