Other Pharmaceuticals - Germany

Germany

Germany's Other Pharmaceuticals market is forecasted to generate revenue of US$17.01bn in 2024.
It is expected to exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 3.79%, leading to a market volume of US$20.49bn by 2029.
When compared globally, United States will generate the highest revenue, amounting to US$260.50bn in 2024.
Germany is experiencing a rising demand for alternative pharmaceuticals, driven by a growing emphasis on holistic health and natural remedies.

Key regions: China, Europe, Australia, United States, Germany

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Analyst Opinion

Germany is a country with a strong pharmaceutical industry, and the Other Pharmaceuticals market is no exception. This market includes products such as vitamins, minerals, and herbal supplements, among others.

Customer preferences: In recent years, there has been a growing interest in natural and alternative medicine in Germany, which has led to an increase in demand for products in the Other Pharmaceuticals market. Customers are increasingly looking for products that are perceived as being more natural and less processed.

Trends in the market: One trend in the Other Pharmaceuticals market in Germany is the increasing popularity of herbal supplements. These products are perceived as being natural and often have a long history of use in traditional medicine. Another trend is the growing demand for products that are specifically tailored to certain age groups or health conditions. For example, there is a growing market for products aimed at older adults or for those with specific health concerns such as joint pain.

Local special circumstances: Germany has a strong regulatory framework for the pharmaceutical industry, which includes the Other Pharmaceuticals market. This means that products in this market must meet strict standards for safety and efficacy before they can be sold. Additionally, there is a strong tradition of natural and alternative medicine in Germany, which has helped to drive demand for products in this market.

Underlying macroeconomic factors: Germany is a wealthy country with a high standard of living, which means that consumers have more disposable income to spend on products in the Other Pharmaceuticals market. Additionally, the country has an aging population, which has helped to drive demand for products aimed at older adults. Finally, the strong regulatory framework for the pharmaceutical industry in Germany has helped to ensure that products in this market are of high quality and safe for consumers to use.

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.