Pharmaceuticals - Ethiopia

Ethiopia

The Pharmaceuticals market in Ethiopia is expected to witness a significant increase in revenue, reaching US$370.30m in 2024.
among the various markets within the market, Oncology Drugs is projected to hold the largest market share, with a volume of US$46.44m in the same year.
This particular market is expected to exhibit a steady growth rate, with a Compound Annual Growth Rate (CAGR 2024-2028) of 3.49%.
As a result, the market volume is predicted to amount to US$424.80m by 2028.
In comparison to other countries, United States is anticipated to generate the highest revenue in the Pharmaceuticals market, amounting to a staggering US$636.90bn in 2024.
This indicates the dominance of the United States in the global Pharmaceuticals market industry.
Ethiopia's pharmaceutical market is experiencing significant growth, as the government prioritizes healthcare infrastructure development and local production capabilities.

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

Pharmaceuticals market in Ethiopia has been developing at a steady pace in recent years.

Customer preferences: The Ethiopian population has been increasingly seeking better access to quality healthcare services. As a result, the demand for pharmaceutical products has been growing steadily. The customers in Ethiopia are becoming more aware of the importance of healthcare and are willing to spend more on quality medical products.

Trends in the market: The pharmaceuticals market in Ethiopia has been growing at a steady pace. The market is dominated by generic drugs, which are cheaper alternatives to branded drugs. The demand for generic drugs has been growing due to their affordability. The government has been promoting the use of generic drugs to reduce the cost of healthcare. The pharmaceutical companies in Ethiopia have been focusing on producing generic drugs to meet the growing demand.

Local special circumstances: The pharmaceuticals market in Ethiopia is highly regulated. The government has set up the Ethiopian Food, Medicine, and Healthcare Administration and Control Authority (FMHACA) to regulate the pharmaceuticals market. The FMHACA is responsible for the registration, licensing, and inspection of pharmaceutical products. The government has also set up a system to control the prices of pharmaceutical products to make them affordable to the general public.

Underlying macroeconomic factors: Ethiopia has been one of the fastest-growing economies in Africa. The country has been focusing on developing its healthcare sector to improve the health of its citizens. The government has been investing in the healthcare sector to improve access to quality healthcare services. The growing economy and the government's focus on healthcare have been driving the growth of the pharmaceuticals market in Ethiopia.

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.