Pharmaceuticals - Belarus

Belarus

Belarus is projected to witness a substantial revenue growth in the Pharmaceuticals market, reaching an impressive US$267.90m by the year 2024.
Amongst the various sectors within the market, Oncology Drugs stands out as the largest, with a projected market volume of US$51.57m in the same year.
Looking ahead, the industry is expected to display a steady annual growth rate of 6.06%, resulting in a market volume of US$339.00m by 2028.
In comparison to other countries globally, United States is set to generate the highest revenue, with a staggering US$636.90bn in 2024.
These numbers highlight the significant potential and importance of the Pharmaceuticals market for Belarus.
Belarus has seen a significant increase in pharmaceutical research and development, making it a hub for innovative drug discovery.

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. 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

Belarus, a country located in Eastern Europe, has been experiencing a significant growth in its pharmaceuticals market.

Customer preferences: Belarusian customers have been demanding more affordable and accessible medicines, which has led to an increase in the consumption of generic drugs. In addition, there has been a growing demand for medicines that treat chronic diseases such as cardiovascular diseases, diabetes, and cancer.

Trends in the market: One of the major trends in the Belarusian pharmaceuticals market is the increasing focus on research and development. Domestic companies are investing more in R&D to develop new drugs and improve the quality of existing ones. This has led to a rise in the number of clinical trials conducted in the country. Another trend is the growing popularity of e-pharmacies, which offer online ordering and delivery of medicines. This has made it easier for customers to access medicines, especially in rural areas.

Local special circumstances: Belarus has a state-controlled healthcare system, which means that the government plays a significant role in regulating the pharmaceuticals market. The government sets prices for medicines and also provides subsidies for certain categories of medicines. In addition, the government has been implementing policies to promote the local production of medicines, which has led to the growth of domestic pharmaceutical companies.

Underlying macroeconomic factors: Belarus has a stable economy with a high level of human development. The country has a well-educated workforce and a good infrastructure, which has made it an attractive destination for foreign investment in the pharmaceuticals sector. In addition, the country's membership in the Eurasian Economic Union has facilitated the trade of pharmaceuticals with other member states, which has boosted the growth of the market.In conclusion, the Belarusian pharmaceuticals market has been growing due to the increasing demand for affordable and accessible medicines, the focus on research and development, the popularity of e-pharmacies, the state-controlled healthcare system, and the underlying macroeconomic factors.

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.