Pharmaceuticals - Uzbekistan

  • Uzbekistan
  • In Uzbekistan, the projected revenue in the Pharmaceuticals market for the year 2024 is expected to reach US$574.90m.
  • Among the different markets, the largest is Oncology Drugs, with a projected market volume of US$53.15m in the same year.
  • Looking ahead, the revenue is anticipated to demonstrate an annual growth rate of 0.36% (CAGR 2024-2029), resulting in a market volume of US$585.20m by 2029.
  • It is worth noting that in a global comparison, United States is expected to generate the highest revenue of US$630.30bn in 2024.
  • The pharmaceutical industry in Uzbekistan is experiencing a surge in investment and innovation, leading to the development of new drugs and therapies.

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

 
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Analyst Opinion

The Pharmaceuticals market in Uzbekistan has been experiencing a steady growth in recent years.

Customer preferences:
The Uzbekistan population has been increasingly concerned about their health and wellbeing, leading to a higher demand for pharmaceutical products. Additionally, the aging population has also contributed to the growth of the market as they require more medication to manage their health conditions.

Trends in the market:
The market has been witnessing a shift towards generic drugs due to their affordability compared to branded drugs. This trend has been driven by the government's efforts to reduce healthcare costs and increase access to medication for the population. Furthermore, there has been an increase in the production of local pharmaceutical products, which has also contributed to the growth of the market.

Local special circumstances:
The Uzbekistan government has been implementing policies to encourage the growth of the pharmaceutical industry in the country. This has included the establishment of pharmaceutical clusters and the promotion of local production. Additionally, the government has also been investing in healthcare infrastructure to improve access to medication for the population.

Underlying macroeconomic factors:
The growth of the pharmaceutical market in Uzbekistan can be attributed to the country's stable economic environment. The government's efforts to diversify the economy and reduce reliance on commodities have led to the growth of various industries, including the pharmaceutical industry. Furthermore, the country's strategic location and access to key markets have also contributed to the growth of the industry by facilitating trade and investment.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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