Anti-Coagulants - Armenia

Armenia

In Armenia, the projected revenue in the Anti-Coagulants market is expected to reach US$4.10m in 2024.
This indicates a positive trend in the market.
Furthermore, the revenue is anticipated to show an annual growth rate (CAGR 2024-2029) of 8.38%, resulting in a market volume of US$6.13m by 2029.
It is worth noting that United States leads in global comparison, generating the highest revenue of US$16,740.00m in 2024.
Armenia's growing demand for anti-coagulants reflects a rising awareness of cardiovascular health in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Armenia, a small country in the South Caucasus region, has been experiencing a steady growth in the Anti-Coagulants market in recent years.

Customer preferences: Armenians have been increasingly adopting a healthier lifestyle, leading to a rise in cardiovascular diseases. As a result, there has been a growing demand for Anti-Coagulants, which are used to prevent blood clots and reduce the risk of stroke and heart attacks. Additionally, the aging population has also contributed to the growth in demand for Anti-Coagulants.

Trends in the market: The Anti-Coagulants market in Armenia has been witnessing a shift towards newer and more advanced drugs. Direct Oral Anticoagulants (DOACs) are becoming more popular due to their ease of use and lower risk of side effects compared to traditional Anti-Coagulants such as Warfarin. The market has also seen an increase in the number of generic drugs, which are more affordable and accessible to the general population.

Local special circumstances: Armenia has a relatively small population and a developing healthcare system. This has resulted in a limited number of pharmaceutical companies operating in the country, leading to a higher cost of drugs compared to other countries in the region. The government has been taking steps to address this issue by implementing policies to increase the affordability and accessibility of drugs.

Underlying macroeconomic factors: Armenia has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and healthcare spending. The government has also been investing in healthcare infrastructure and technology, which has improved the quality of healthcare services in the country. However, the country still faces challenges such as a high poverty rate and a large informal economy, which can hinder the growth of the Anti-Coagulants 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.