Pharmaceuticals - Romania

Romania

In 2024, the projected revenue in the Pharmaceuticals market in Romania is expected to reach US$1,621.00m.
Within this market, the largest market is Oncology Drugs, which is projected to have a market volume of US$308.40m in 2024.
Looking ahead, the revenue is expected to grow at an annual growth rate (CAGR 2024-2028) of 6.44%, resulting in a market volume of US$2,081.00m by 2028.
When compared globally, United States is expected to generate the highest revenue in the Pharmaceuticals market, reaching US$636.90bn in 2024.
Romania's pharmaceutical market is experiencing a surge in demand for generic drugs due to increasing healthcare costs.

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

The Pharmaceuticals market in Romania has been experiencing significant growth in recent years.

Customer preferences: The demand for pharmaceutical products in Romania is largely driven by the aging population and increasing healthcare needs. Romanian consumers are increasingly seeking out high-quality, innovative drugs that can effectively treat a wide range of medical conditions. Additionally, there is a growing trend towards natural and organic products, as consumers become more health-conscious and concerned about the potential side effects of traditional pharmaceuticals.

Trends in the market: One of the key trends in the Romanian pharmaceutical market is the increasing focus on research and development. Pharmaceutical companies are investing heavily in new drug development, with a particular emphasis on innovative treatments for chronic diseases such as cancer and diabetes. Another trend is the growing popularity of generic drugs, which are generally more affordable and accessible than branded products. This trend is being driven by government initiatives to reduce healthcare costs and improve access to essential medicines.

Local special circumstances: One of the unique factors influencing the Romanian pharmaceutical market is the country's complex healthcare system. The public healthcare system is underfunded and understaffed, leading to long wait times and limited access to specialized care. As a result, many Romanians rely on private healthcare providers and must pay out-of-pocket for medications and treatments. This has created a significant market for private pharmaceutical companies, which are able to offer a wider range of products and services to consumers.

Underlying macroeconomic factors: The Romanian pharmaceutical market is also influenced by broader macroeconomic trends. The country's economy has been growing steadily in recent years, which has led to increased consumer spending and greater demand for healthcare products and services. Additionally, Romania's recent accession to the European Union has opened up new opportunities for pharmaceutical companies to expand their operations and reach new customers. However, the market is also subject to regulatory challenges and political uncertainty, which can impact investment decisions and market growth.

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.