Key regions: China, Europe, Australia, United States, Germany
The demand for Other Pharmaceuticals in Russia has been on the rise due to the increasing burden of chronic diseases and the aging population.
Customer preferences: Russian customers have been showing a preference towards Other Pharmaceuticals due to their affordability and effectiveness in treating chronic conditions such as diabetes, hypertension, and cardiovascular diseases. Additionally, the growing awareness about the benefits of alternative medicine and the availability of herbal and natural Other Pharmaceuticals have also been contributing to the growth of the market.
Trends in the market: The Other Pharmaceuticals market in Russia has been witnessing a shift towards the development of personalized medicine. This trend is being driven by the increasing availability of genetic testing and the growing understanding of the role of genetics in disease management. Additionally, the market is also witnessing a trend towards the development of innovative drug delivery systems that are more convenient and effective for patients.
Local special circumstances: The Russian government has been implementing various policies to promote the growth of the pharmaceutical industry in the country. The government has been providing subsidies and tax incentives to local manufacturers to encourage the production of generic drugs. Additionally, the government has also been investing in the development of the healthcare infrastructure in the country to improve access to healthcare services.
Underlying macroeconomic factors: The Russian economy has been recovering from the impact of the global economic recession, which has led to an increase in consumer spending. Additionally, the government's focus on diversifying the economy and reducing dependence on oil and gas exports has led to the growth of other sectors, including the pharmaceutical industry. The increasing disposable income and the growing middle-class population have also been contributing to the growth of the Other Pharmaceuticals market in Russia.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
