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Key regions: United States, China, Germany, Japan, Europe
The demand for Pharmaceuticals in Asia is on the rise due to various factors.
Customer preferences: As the population in Asia is aging, there is an increasing demand for pharmaceuticals to treat chronic diseases. Additionally, the rising middle class in Asia has led to an increase in disposable income, which has resulted in greater spending on healthcare and pharmaceutical products.
Trends in the market: In China, the pharmaceutical market is growing rapidly due to an aging population and increasing urbanization. The government's focus on healthcare reform has also led to an increase in demand for innovative drugs. In India, the market is growing due to the increasing prevalence of chronic diseases and a growing middle class. The government's push towards generic drugs has also led to increased demand. In Japan, the market is growing due to a rapidly aging population and an increase in healthcare spending.
Local special circumstances: In China, pharmaceutical companies face strict regulations and a complex approval process for new drugs. Additionally, the market is highly fragmented, with many small players competing for market share. In India, the market is highly price-sensitive, with consumers often opting for cheaper generic drugs over branded ones. In Japan, the market is dominated by a few large players, which makes it difficult for new entrants to gain a foothold.
Underlying macroeconomic factors: The overall economic growth in Asia has led to an increase in healthcare spending. Additionally, the aging population in many Asian countries has led to an increase in demand for pharmaceuticals. The rise of the middle class has also led to increased spending on healthcare and pharmaceuticals. However, the regulatory environment in many Asian countries can be challenging for pharmaceutical companies, which can limit growth opportunities.
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)