Pharmaceuticals - Brunei Darussalam

Brunei Darussalam

In Brunei Darussalam, the revenue in the Pharmaceuticals market is projected to reach US$35.60m in 2024.
Among the various markets, the largest one is Oncology Drugs, which is expected to have a market volume of US$6.81m in 2024.
Looking ahead, the revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 5.75%, leading to a market volume of US$44.52m by 2028.
It is worth noting that in a global comparison, United States is expected to generate the highest revenue, amounting to US$636.90bn in 2024.
Brunei Darussalam's pharmaceutical market is experiencing a surge in demand for innovative and specialized medications.

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.

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Currency

Analyst Opinion

The Pharmaceuticals market in Brunei Darussalam has been growing steadily in recent years.

Customer preferences: Brunei Darussalam has a small population with a high standard of living, which has resulted in a growing demand for healthcare services, including pharmaceuticals. Bruneians tend to prefer branded medicines over generic ones, as they believe them to be of higher quality and more effective.

Trends in the market: The pharmaceuticals market in Brunei Darussalam has been driven by a number of factors. Firstly, the government has been investing heavily in healthcare infrastructure, which has led to an increase in the number of hospitals and clinics in the country. This has resulted in a higher demand for pharmaceuticals, as more people are able to access healthcare services. Secondly, the rise of chronic diseases such as diabetes and hypertension has led to an increase in the demand for pharmaceuticals that treat these conditions. Finally, the growing middle class in Brunei Darussalam has led to an increase in disposable income, which has resulted in a higher demand for healthcare services.

Local special circumstances: Brunei Darussalam has a unique healthcare system, as the government provides free healthcare to all citizens and permanent residents. This has led to a high demand for pharmaceuticals, as people are able to access healthcare services without worrying about the cost. Additionally, Brunei Darussalam has a small population, which has resulted in a limited market for pharmaceutical companies.

Underlying macroeconomic factors: Brunei Darussalam has a stable economy with a high GDP per capita, which has resulted in a growing demand for healthcare services. Additionally, the government has been investing heavily in healthcare infrastructure, which has led to an increase in the number of hospitals and clinics in the country. Finally, the rise of chronic diseases such as diabetes and hypertension has led to an increase in the demand for pharmaceuticals that treat these conditions.

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.