Other Pharmaceuticals - Sweden

Sweden

In Sweden, the revenue in the market Other Pharmaceuticals market is forecasted to reach US$1.98bn in 2024.
It is anticipated that the revenue will exhibit a compound annual growth rate (CAGR 2024-2028) of 3.70%, leading to a market volume of US$2.29bn by 2028.
When compared globally, United States is expected to generate the highest revenue of US$256.20bn in 2024.
Sweden's pharmaceutical market is experiencing a surge in demand for alternative and complementary medicines.

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

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Analyst Opinion

The Other Pharmaceuticals market in Sweden has witnessed significant growth in recent years.

Customer preferences: Customers in Sweden have shown a growing interest in alternative and complementary medicines, which has contributed to the growth of the Other Pharmaceuticals market. Consumers are also becoming more health-conscious and are seeking out products that are natural and have fewer side effects.

Trends in the market: The Other Pharmaceuticals market in Sweden has seen an increase in demand for herbal and homeopathic products. This trend is driven by the growing interest in natural remedies and the belief that they are safer and more effective than traditional pharmaceuticals. Additionally, there is a growing demand for products that address specific health concerns, such as digestive health, immune support, and stress relief.

Local special circumstances: Sweden has a reputation for being a health-conscious country, with a strong emphasis on preventative health measures. This has contributed to the growth of the Other Pharmaceuticals market, as consumers are willing to invest in products that support their overall health and well-being. Additionally, Sweden has a well-established regulatory framework for natural and alternative medicines, which has helped to build consumer trust in these products.

Underlying macroeconomic factors: Sweden has a strong economy and a high standard of living, which has contributed to the growth of the Other Pharmaceuticals market. Consumers have more disposable income to spend on health and wellness products, and are willing to invest in products that they believe will improve their quality of life. Additionally, Sweden has a well-developed healthcare system that provides consumers with access to a wide range of health services and products. This has helped to build consumer awareness and demand for the Other Pharmaceuticals market.

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.