Anti-Hypertensive Drugs - Belgium

Belgium

The projected revenue for the Anti-Hypertensive Drugs market in Belgium is expected to reach US$114.20m in 2024.
With an annual growth rate (CAGR 2024-2029) of -0.64%, the market volume is estimated to reach US$110.60m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$12,290.00m in 2024.
Belgium's anti-hypertensive drug market is witnessing an increasing demand for innovative and personalized treatment options.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Belgium has been experiencing significant growth in recent years.

Customer preferences: Belgian customers are increasingly concerned about their health and are willing to invest in medications to manage their hypertension. They tend to prefer medications with fewer side effects and a more convenient dosing schedule.

Trends in the market: One trend in the Belgian market is the shift towards combination therapies, where multiple drugs are combined into a single pill. This approach can improve patient adherence to medication regimens and simplify treatment. Another trend is the increasing availability of generic versions of popular anti-hypertensive drugs, which can help to lower costs for patients and insurers.

Local special circumstances: Belgium has a well-developed healthcare system, which provides universal coverage to its citizens. This has helped to support demand for anti-hypertensive drugs, as patients are able to access medications without significant out-of-pocket costs. Additionally, the country has a large elderly population, which is more likely to require treatment for hypertension.

Underlying macroeconomic factors: The Belgian economy has been growing steadily in recent years, which has helped to support demand for healthcare services and medications. Additionally, the government has implemented policies to encourage the use of generic drugs, which has helped to reduce costs for patients and insurers. However, the market is facing challenges from increasing competition and pricing pressures, which may limit growth in the future.

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.