Anti-Hypertensive Drugs - Canada

Canada

Highlights

In Canada, the revenue in the Anti-Hypertensive Drugs market is estimated to reach US$399.10m in 2024.
It is projected to display an annual growth rate (CAGR 2024-2029) of -0.06%, leading to a market volume of US$397.90m by 2029.
When compared on a global scale, United States is expected to generate the highest revenue, amounting to US$12.29bn in 2024.
In Canada, the demand for anti-hypertensive drugs is steadily increasing due to the aging population and rising prevalence of hypertension.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Anti-Hypertensive Drugs market in Canada has been steadily growing over the past few years.

Customer preferences: Canadian consumers have shown a preference for combination drugs that offer multiple benefits in a single pill, making it easier to manage their hypertension. They also prefer drugs with fewer side effects and a lower risk of drug interactions.

Trends in the market: The Canadian market for Anti-Hypertensive Drugs is being driven by an aging population, increasing rates of hypertension, and a growing awareness of the importance of managing hypertension. The market is expected to continue to grow as the population ages and the prevalence of hypertension increases.

Local special circumstances: Canada has a publicly funded healthcare system, which means that the government negotiates drug prices with pharmaceutical companies. This has resulted in lower drug prices compared to other countries with private healthcare systems. However, the government's cost containment measures have also resulted in slower drug approvals and limited access to some drugs.

Underlying macroeconomic factors: The Canadian economy has been growing steadily, which has led to increased healthcare spending. However, the government's efforts to control healthcare costs have resulted in a focus on cost-effective treatments, which has led to a shift towards generic drugs and combination therapies. The government's focus on cost containment is expected to continue to shape the Anti-Hypertensive Drugs market in Canada in the coming years.

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.