Anti-Coagulants - Ethiopia

Ethiopia

The Anti-Coagulants market in Ethiopia is expected to witness a significant growth in revenue, reaching US$7.21m by the year 2024.
This projection indicates a promising future for the market in the country.
Moreover, it is anticipated that the revenue will continue to grow steadily with an annual growth rate (CAGR 2024-2029) of 8.82%, ultimately resulting in a market volume of US$11.00m by 2029.
When considering the global scenario, it is noteworthy that United States is expected to generate the highest revenue in the Anti-Coagulants market.
In 2024, it is projected to reach a staggering amount of US$16,740.00m.
This demonstrates the dominant position of the United States in this market.
In Ethiopia, the market for anti-coagulants is witnessing a steady growth due to an aging population and increasing prevalence of cardiovascular diseases.

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

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Analyst Opinion

The use of Anti-Coagulants in Ethiopia has been on the rise in recent years, with an increasing number of patients being prescribed these medications to treat a range of conditions.

Customer preferences: Patients in Ethiopia are increasingly seeking out Anti-Coagulants as a treatment option for conditions such as deep vein thrombosis, pulmonary embolism, and stroke. This is due in part to growing awareness of the effectiveness of these medications, as well as an increasing number of healthcare providers who are able to prescribe them.

Trends in the market: One of the key trends in the Anti-Coagulants market in Ethiopia is the shift towards newer, more expensive medications. While traditional Warfarin remains widely used, newer drugs such as Apixaban and Rivaroxaban are becoming increasingly popular due to their ease of use and reduced risk of side effects. Additionally, there is a growing trend towards the use of combination therapies, where multiple Anti-Coagulants are used in conjunction with each other to achieve better results.

Local special circumstances: One of the unique factors driving the Anti-Coagulants market in Ethiopia is the prevalence of certain conditions that increase the risk of blood clots. For example, sickle cell anemia is relatively common in Ethiopia, and patients with this condition are at a higher risk of developing blood clots. This has led to a greater demand for Anti-Coagulants among this population.

Underlying macroeconomic factors: The growth of the Anti-Coagulants market in Ethiopia is being driven by a number of underlying macroeconomic factors. These include a growing middle class with increased access to healthcare, as well as an aging population that is more susceptible to conditions such as stroke and deep vein thrombosis. Additionally, improvements in healthcare infrastructure and the availability of more advanced medical technologies are making it easier for healthcare providers to diagnose and treat these conditions.

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.