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Key regions: United States, China, Germany, Japan, Europe
New Zealand, a country known for its stunning natural landscapes and diverse culture, has a growing pharmaceutical market that is worth analyzing.
Customer preferences: New Zealand's population is aging, and with that comes an increase in demand for pharmaceuticals. Additionally, the country has a high prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, which require long-term treatment. As a result, there is a growing demand for prescription drugs and over-the-counter medication.
Trends in the market: The pharmaceutical market in New Zealand is highly regulated, and the government plays a significant role in determining drug prices. In recent years, there has been a shift towards generic drugs, which are cheaper alternatives to brand-name drugs. This trend is driven by the government's efforts to reduce healthcare costs and increase accessibility to medication.Another trend in the market is the growing popularity of natural health products. New Zealand has a rich history of traditional medicine, and consumers are increasingly turning to natural remedies for their health needs. This trend is also reflected in the growing demand for organic and natural products in other sectors such as food and beauty.
Local special circumstances: New Zealand's pharmaceutical market is unique in that it is dominated by a few large players. The country's small population and strict regulatory environment make it difficult for new entrants to compete. As a result, the market is highly consolidated, with a few companies controlling a significant share of the market.
Underlying macroeconomic factors: New Zealand's economy has been growing steadily in recent years, driven by a strong services sector and robust tourism industry. This growth has led to an increase in disposable income, which in turn has led to higher healthcare spending. Additionally, the government has been investing heavily in healthcare infrastructure and technology, which has helped to drive growth in the pharmaceutical market.In conclusion, the pharmaceutical market in New Zealand is growing, driven by an aging population, a high prevalence of chronic diseases, and a growing demand for natural health products. The market is highly regulated, with a focus on reducing healthcare costs and increasing accessibility to medication. While the market is dominated by a few large players, the country's growing economy and investment in healthcare infrastructure and technology are creating opportunities for growth.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)