Anti-Coagulants - Montenegro

Montenegro

Montenegro is projected to reach a revenue of US$1.36m in the Anti-Coagulants market by 2024.
It is expected that the revenue will show an annual growth rate (CAGR 2024-2029) of 7.58%, resulting in a market volume of US$1.96m by 2029.
In global comparison, United States is anticipated to generate the highest revenue of US$16,740.00m in 2024.
Montenegro's increasing aging population has led to a rising demand for anti-coagulants to treat cardiovascular diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Montenegro, a small Balkan country with a population of approximately 620,000, has been experiencing a steady growth in the Anti-Coagulants market.

Customer preferences: Montenegro's aging population is a key driver for the growth in the Anti-Coagulants market. As people age, the risk of developing blood clots increases, leading to a higher demand for Anti-Coagulants. Additionally, the rising prevalence of cardiovascular diseases and strokes in the country has further contributed to the growth of the market.

Trends in the market: The Anti-Coagulants market in Montenegro is dominated by oral anticoagulants, which are more convenient for patients to take compared to injectable anticoagulants. Furthermore, there has been a shift towards the use of direct oral anticoagulants (DOACs) instead of traditional Vitamin K antagonists (VKAs) due to their lower risk of bleeding and fewer drug interactions. The increasing availability of DOACs in Montenegro has also contributed to their growing popularity.

Local special circumstances: Montenegro's healthcare system is still developing, and access to healthcare services can be limited in some areas. However, the government has been working to improve the healthcare system, and the availability of Anti-Coagulants has been increasing in recent years. Additionally, the country's small size and centralized healthcare system make it easier for pharmaceutical companies to distribute their products.

Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, with a focus on tourism and foreign investment. This has led to an increase in healthcare spending, which has contributed to the growth of the Anti-Coagulants market. However, the country's relatively low GDP per capita means that affordability may still be a barrier for some patients.

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.