Anti-Hypertensive Drugs - ASEAN

ASEAN

The ASEAN region is projected to witness a significant increase in revenue in the Anti-Hypertensive Drugs market.
By 2024, the revenue is estimated to reach US$245.80m.
Furthermore, it is expected that the market will experience a steady annual growth rate of 0.63% from 2024 to 2029.
This growth will lead to a market volume of US$253.70m by 2029.
When comparing the revenue on a global scale, United States is expected to generate the highest revenue in the Anti-Hypertensive Drugs market.
In 2024, United States is projected to generate a revenue of US$12,290.00m.
In the ASEAN region, there is a growing demand for anti-hypertensive drugs due to the increasing prevalence of hypertension among the population.

Key regions: Japan, India, Italy, Brazil, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Hypertensive Drugs market in ASEAN has been experiencing steady growth in recent years.

Customer preferences: As the population ages and lifestyles become more sedentary, the demand for anti-hypertensive drugs has increased in ASEAN. Customers are becoming more health-conscious and are seeking treatments for hypertension to prevent serious health issues such as heart attack and stroke. Patients are also looking for drugs that are affordable and have minimal side effects.

Trends in the market: Indonesia and the Philippines are the largest markets for anti-hypertensive drugs in ASEAN. In Indonesia, the market is dominated by domestic players, while in the Philippines, multinational companies hold a larger market share. In both countries, generic drugs are the most popular due to their affordability. Thailand and Malaysia are also seeing growth in the market, but at a slower rate. The market in Vietnam is still in its early stages, but is expected to grow rapidly in the coming years.

Local special circumstances: In Indonesia and the Philippines, the government has implemented programs to increase access to healthcare and reduce the cost of medication, which has contributed to the growth of the anti-hypertensive drugs market. In Thailand, the government has implemented a universal healthcare system, which has also increased access to medication for hypertension.

Underlying macroeconomic factors: The growing middle class in ASEAN has contributed to the growth of the anti-hypertensive drugs market. As incomes rise, people are more willing to spend money on healthcare. Additionally, the prevalence of hypertension in ASEAN is increasing due to unhealthy diets and sedentary lifestyles. This has led to an increase in demand for anti-hypertensive drugs. The aging population in ASEAN is also contributing to the growth of the market, as hypertension is more common in older adults. Finally, the increasing prevalence of chronic diseases such as diabetes and obesity is also driving demand for anti-hypertensive drugs. In conclusion, the anti-hypertensive drugs market in ASEAN is growing due to a combination of factors including an aging population, sedentary lifestyles, and increasing prevalence of chronic diseases. Governments in the region are also implementing programs to increase access to healthcare and reduce the cost of medication. As the market continues to grow, it is likely that we will see more multinational companies entering the market and increased competition in the generic drug segment.

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.