Anti-Hypertensive Drugs - BRICS

BRICS

The Anti-Hypertensive Drugs market in BRICS is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$3.18bn by 2024.
Moreover, it is anticipated to exhibit an annual growth rate of 0.37% (CAGR 2024-2029), leading to a market volume of US$3.24bn by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated value of US$12,290.00m in 2024.
Brazil's anti-hypertensive drug market is experiencing significant growth due to the rising 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 BRICS countries has seen significant growth in recent years, driven by various factors such as increasing prevalence of hypertension, rising geriatric population, and growing awareness about the importance of early diagnosis and treatment of hypertension.

Customer preferences: In Brazil, patients tend to prefer combination drugs that offer multiple benefits over single-ingredient drugs. In Russia, there is a growing demand for generic drugs due to their affordability. In India, patients prefer Ayurvedic and homeopathic medicines over conventional drugs. In China, there is a preference for traditional Chinese medicines as well as Western medicines.

Trends in the market: Brazil has the largest Anti-Hypertensive Drugs market in the region, driven by the increasing prevalence of hypertension in the country. Russia is expected to witness significant growth in the market due to the rising geriatric population and increasing government initiatives to improve healthcare infrastructure. India is expected to witness growth in the Ayurvedic and homeopathic segments of the market. China is witnessing growth in the traditional Chinese medicine segment of the market.

Local special circumstances: In Brazil, the government has implemented various programs to improve access to healthcare services, which has led to increased demand for Anti-Hypertensive Drugs. In Russia, the government has introduced various initiatives to promote the use of generic drugs, which has led to increased demand for such drugs. In India, the Ayurvedic and homeopathic segments of the market are driven by the popularity of alternative medicine in the country. In China, the traditional Chinese medicine segment of the market is driven by the country's rich history and culture of traditional medicine.

Underlying macroeconomic factors: The BRICS countries are expected to witness significant economic growth in the coming years, which is expected to drive the growth of the Anti-Hypertensive Drugs market in the region. Additionally, the rising geriatric population in these countries is expected to drive the demand for Anti-Hypertensive Drugs. The increasing prevalence of hypertension in these countries is also expected to drive the demand for such drugs. However, the market is also facing challenges such as the high cost of drugs, lack of access to healthcare services in certain areas, and increasing competition from local players.

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.