Anti-Hypertensive Drugs - Bulgaria

Bulgaria

The revenue generated in the Anti-Hypertensive Drugs market in Bulgaria is projected to reach US$10.45m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -0.13%, leading to a market volume of US$10.38m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, with an estimated value of US$12,290.00m in 2024.
Bulgaria's growing aging population and increasing prevalence of hypertension are driving the demand for anti-hypertensive drugs in the country.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Bulgaria has been experiencing significant developments in recent years.

Customer preferences: Bulgaria has one of the highest rates of hypertension in Europe, with approximately one-third of the adult population suffering from high blood pressure. This has led to an increased demand for anti-hypertensive drugs, as patients seek to manage their condition and prevent associated health risks such as heart attack and stroke.

Trends in the market: One notable trend in the Bulgarian Anti-Hypertensive Drugs market is the increasing preference for combination therapies. Patients are increasingly opting for drugs that combine multiple active ingredients, as these have been shown to be more effective in managing hypertension than single-ingredient drugs. This trend is in line with global developments in the market, as combination therapies have become increasingly popular in recent years.Another trend in the Bulgarian market is the growing popularity of generic drugs. As healthcare costs continue to rise, patients are seeking more affordable treatment options. This has led to an increase in the use of generic anti-hypertensive drugs, which are typically less expensive than their branded counterparts. This trend is also in line with global developments, as the use of generic drugs has been increasing in many countries worldwide.

Local special circumstances: One factor that has contributed to the development of the Anti-Hypertensive Drugs market in Bulgaria is the country's aging population. As the population ages, the prevalence of hypertension is expected to increase, driving demand for anti-hypertensive drugs even higher. Additionally, Bulgaria's healthcare system has undergone significant reforms in recent years, which have led to increased access to healthcare for many Bulgarians. This has also contributed to the growth of the Anti-Hypertensive Drugs market, as more patients are now able to receive treatment for their condition.

Underlying macroeconomic factors: The Bulgarian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. As healthcare spending continues to rise, more resources are being allocated to the treatment of chronic conditions such as hypertension. Additionally, Bulgaria's accession to the European Union has led to increased regulation of the pharmaceutical industry, which has helped to ensure the safety and efficacy of anti-hypertensive drugs sold in the country. These macroeconomic factors have contributed to the growth of the Anti-Hypertensive Drugs market in Bulgaria.

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.