Other Pharmaceuticals - Southeast Asia

Southeast Asia

The Other Pharmaceuticals market in Southeast Asia is expected to witness significant growth in the coming years.
According to projections, the revenue of this market is estimated to reach US$5.12bn by 2024.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2028, resulting in a market volume of US$6.06bn by the end of 2028.
In terms of global comparison, United States is expected to generate the highest revenue in the Other Pharmaceuticals market, amounting to US$256.20bn in 2024.
This indicates the dominance of the US market in this industry.
In Southeast Asia, Thailand is emerging as a hub for herbal medicine production in the Other Pharmaceuticals market.

Key regions: South Korea, Japan, Europe, Brazil, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Pharmaceuticals market in Southeast Asia has been experiencing significant growth in recent years.

Customer preferences: Customers in Southeast Asia have been increasingly seeking out alternative medicines and treatments, leading to a rise in demand for Other Pharmaceuticals. These alternative medications are often seen as more natural and holistic, appealing to those who are looking for a more holistic approach to healthcare.

Trends in the market: Indonesia has emerged as a key player in the Other Pharmaceuticals market, with a growing number of companies entering the market. The country has a large population, which has created a significant demand for alternative medicines. In addition, the Indonesian government has been supportive of the development of the Other Pharmaceuticals industry, providing funding and other incentives to encourage growth.In Malaysia, there has been a growing interest in traditional Chinese medicine, leading to an increase in demand for Other Pharmaceuticals. Many Malaysians are turning to traditional Chinese medicine as a way to treat chronic conditions, such as arthritis and diabetes.In the Philippines, the Other Pharmaceuticals market has been driven by the country's large population and growing middle class. As more Filipinos gain access to healthcare, they are increasingly looking for alternative treatments, leading to a rise in demand for Other Pharmaceuticals.

Local special circumstances: In Thailand, the government has been supportive of the development of the Other Pharmaceuticals industry, providing funding and other incentives to encourage growth. As a result, Thailand has emerged as a key player in the market, with a growing number of companies entering the industry.In Vietnam, the Other Pharmaceuticals market has been driven by the country's large population and growing middle class. As more Vietnamese gain access to healthcare, they are increasingly looking for alternative treatments, leading to a rise in demand for Other Pharmaceuticals.

Underlying macroeconomic factors: The growth of the Other Pharmaceuticals market in Southeast Asia can be attributed to several underlying macroeconomic factors. These include the region's large population, rising middle class, and growing demand for healthcare. In addition, many governments in the region have been supportive of the development of the Other Pharmaceuticals industry, providing funding and other incentives to encourage growth. As a result, the market is expected to continue to grow in the coming years, driven by increasing demand from consumers in Southeast Asia.

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.