Pharmaceuticals - Egypt
- Egypt
- The Pharmaceuticals market in Egypt is forecasted to achieve a revenue of US$1,540.00m in 2024.
- among the various markets, the largest market share belongs to Oncology Drugs, which is projected to reach a market volume of US$217.50m in the same year.
- Looking ahead, the market is expected to witness a steady annual growth rate (CAGR 2024-2029) of 5.84%, resulting in a market volume of US$2,045.00m by 2029.
- When compared globally, United States is anticipated to generate the highest revenue, amounting to a staggering US$630.30bn in 2024.
- Egypt's pharmaceutical market is experiencing a surge in demand for generic drugs due to their affordability and accessibility.
Key regions: United States, China, Germany, Japan, Europe
Analyst Opinion
The pharmaceuticals market in Egypt has experienced significant growth in recent years due to various factors.
Customer preferences: Egypt has a population of over 100 million people, with a high demand for pharmaceutical products. The majority of Egyptians prefer to purchase branded drugs, with a preference for imported medicines. This is due to the perception that foreign-made drugs are of higher quality than locally manufactured ones.
Trends in the market: The Egyptian government has implemented various measures to improve the pharmaceutical industry, such as increasing investment in research and development, and providing incentives for local production. This has resulted in a rise in local production of generic drugs, which are more affordable than branded drugs. The government has also made efforts to regulate the market, with a focus on reducing the number of counterfeit drugs in circulation.
Local special circumstances: Egypt has a large population with a high prevalence of chronic diseases such as diabetes, hypertension, and cardiovascular disease. This has resulted in a high demand for pharmaceutical products, particularly for drugs that treat these chronic conditions. Additionally, the country has a large aging population, which has also contributed to the growth of the pharmaceutical market.
Underlying macroeconomic factors: Egypt's economy has been growing steadily in recent years, with a focus on diversifying the economy and attracting foreign investment. The government has implemented various economic reforms, such as reducing subsidies and increasing taxes, which have resulted in increased revenue for the government. This has enabled the government to invest more in the healthcare sector, including the pharmaceutical industry. Additionally, the country has a strategic location, making it an attractive market for pharmaceutical companies looking to expand their operations in the Middle East and North Africa region.
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