Sensory Organ Drugs - Southern Asia

Southern Asia

In Southern Asia, the Sensory Organ Drugs market is anticipated to achieve a revenue of US$312.30m by the year 2024.
This is projected to exhibit a steady growth rate of 6.75% annually, leading to a market volume of US$405.60m by 2028.
When compared globally, United States is expected to generate the highest revenue in this market, with US$15,360.00m in the year 2024.
The demand for sensory organ drugs in Southern Asia is rapidly increasing due to the region's high prevalence of visual and auditory impairments.

Key regions: India, China, Japan, Canada, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Sensory Organ Drugs market in Southern Asia has been experiencing growth in recent years.

Customer preferences: Customers in Southern Asia have been showing a growing interest in Sensory Organ Drugs due to the increasing prevalence of sensory organ diseases in the region. These diseases include glaucoma, cataracts, and age-related macular degeneration, among others. Additionally, the aging population in the region has also been a contributing factor to the growth of the market.

Trends in the market: India has been the largest market for Sensory Organ Drugs in Southern Asia, thanks to the country's large population and high incidence of eye diseases. The country is expected to continue to dominate the market due to the increasing prevalence of diabetes, which is a major risk factor for diabetic retinopathy. The market for Sensory Organ Drugs in Pakistan and Bangladesh is also expected to grow due to the increasing incidence of eye diseases in these countries.

Local special circumstances: One of the major challenges in the Sensory Organ Drugs market in Southern Asia is the lack of awareness about eye diseases and their treatment. In many cases, patients do not seek medical attention until the disease has progressed to an advanced stage, making treatment more difficult. Additionally, the high cost of treatment is also a barrier for many patients.

Underlying macroeconomic factors: The Sensory Organ Drugs market in Southern Asia is expected to continue to grow due to the increasing prevalence of eye diseases in the region, as well as the aging population. However, the market is also likely to face challenges due to the lack of awareness about eye diseases and the high cost of treatment.

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.