Key regions: Japan, India, Italy, Brazil, South Korea
The Anti-Hypertensive Drugs market in Benin has been experiencing a steady growth in recent years.
Customer preferences: The high prevalence of hypertension in Benin has led to an increasing demand for anti-hypertensive drugs. With the growing awareness of the health risks associated with hypertension, more people are seeking medical treatment and adopting healthier lifestyles. However, due to the low purchasing power of the majority of the population, affordability remains a key factor in customer preferences.
Trends in the market: The market for anti-hypertensive drugs in Benin is dominated by imported products, mainly from Europe and India. This is due to the limited local production capacity and the lack of regulatory framework for the production of pharmaceuticals. However, there has been a recent trend towards the promotion of local production and the establishment of partnerships with foreign pharmaceutical companies to enhance local production capacity. This is expected to increase the availability of affordable drugs and improve access to treatment.
Local special circumstances: The healthcare system in Benin is characterized by a shortage of healthcare professionals, limited healthcare infrastructure, and inadequate funding. This has led to a fragmented healthcare system that is unable to meet the growing demand for healthcare services. In addition, the lack of public health insurance and the high out-of-pocket expenses for healthcare services have limited access to treatment for many people. These factors have contributed to the high prevalence of hypertension and the increasing demand for anti-hypertensive drugs.
Underlying macroeconomic factors: The Benin economy is heavily dependent on agriculture, which accounts for over 30% of the country's GDP. The low economic diversification and the vulnerability to external shocks have led to a slow economic growth and limited investment in healthcare infrastructure. This has resulted in a limited capacity to meet the growing demand for healthcare services and the increasing burden of non-communicable diseases like hypertension. However, the government has made efforts to improve the healthcare system through the implementation of health sector reforms and the mobilization of external funding. This is expected to improve the availability and quality of healthcare services and contribute to the growth of the anti-hypertensive drugs market in Benin.
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.
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