Anti-Coagulants - Guatemala

Guatemala

Highlights

The Anti-Coagulants market in Guatemala is anticipated to witness a significant rise in revenue, with projections indicating a staggering amount of US$12.82m in 2024.
Moreover, this market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.91%, leading to a substantial increase in market volume to reach US$18.76m by 2029.
When compared on a global scale, it is noteworthy that United States is expected to generate the highest revenue in this sector, with an estimated amount of US$16.74bn in 2024.
Guatemala is experiencing a growing demand for anti-coagulants due to an aging population and increased prevalence of cardiovascular diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Anti-Coagulants market in Guatemala has been steadily growing in recent years, driven by several factors.

Customer preferences: Guatemalan consumers have become more health-conscious and aware of the risks associated with cardiovascular diseases, leading to an increased demand for anti-coagulants. Additionally, an aging population has contributed to the rise in demand for these drugs.

Trends in the market: The market for Anti-Coagulants in Guatemala is largely dominated by multinational pharmaceutical companies, which have significant market share due to their strong brand recognition and reputation for quality. However, there has been a growing trend towards the use of generic drugs, particularly in the public healthcare system. This has led to increased competition and price pressure in the market.

Local special circumstances: One unique aspect of the Guatemalan market is the prevalence of traditional medicine. Many Guatemalans still rely on traditional remedies and treatments, which can limit the adoption of modern pharmaceuticals. However, there has been a growing acceptance of Western medicine in recent years, particularly among younger generations.

Underlying macroeconomic factors: Guatemala has a relatively low GDP per capita and a large percentage of the population lives in poverty. This has limited the affordability of anti-coagulants for many Guatemalans, particularly those without access to health insurance. However, the government has made efforts to improve access to healthcare through initiatives such as the Seguro Social program, which provides health insurance to low-income individuals. This has helped to increase demand for anti-coagulants. Additionally, the growing middle class in Guatemala has contributed to increased demand for healthcare services, including anti-coagulants.

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.