Anti-Coagulants - Philippines

Philippines

In the Philippines, the Anti-Coagulants market is anticipated to achieve a revenue of US$46.93m by 2024.
Looking ahead, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 8.58% from 2024 to 2029, resulting in a market volume of US$70.84m by the end of 2029.
When compared globally, United States is projected to generate the majority of the revenue, with a staggering US$16,740.00m in 2024.
The demand for anti-coagulants is rising in the Philippines due to the increasing prevalence of cardiovascular diseases.

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

Market

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Currency

Analyst Opinion

The demand for Anti-Coagulants in Philippines has been steadily increasing in recent years.

Customer preferences: The aging population in Philippines has been a major driver of the demand for Anti-Coagulants. As people age, the risk of developing blood clots increases, making Anti-Coagulants a necessary medication. Additionally, the rise in lifestyle diseases such as obesity and diabetes has also contributed to the demand for Anti-Coagulants.

Trends in the market: The market for Anti-Coagulants in Philippines is expected to continue growing in the coming years, driven by the increasing prevalence of lifestyle diseases and the aging population. The market is also expected to benefit from the introduction of new and innovative drugs that are more effective and have fewer side effects than existing drugs.

Local special circumstances: The healthcare system in Philippines is still developing, and many people do not have access to quality healthcare. This has led to a rise in self-medication, with many people purchasing drugs over the counter without a prescription. While this has contributed to the growth of the Anti-Coagulants market, it also poses a risk, as many people may not be taking the medication correctly or may be taking the wrong dosage.

Underlying macroeconomic factors: The Philippines has been experiencing steady economic growth in recent years, with a growing middle class and increasing disposable income. This has led to an increase in healthcare spending, including spending on medications such as Anti-Coagulants. However, the country still faces challenges such as high levels of poverty and inequality, which may limit the growth of the market in certain areas.

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.