Anti-Hypertensive Drugs - Colombia

Colombia

In Colombia, the revenue in the Anti-Hypertensive Drugs market is estimated to reach US$41.92m by 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of -0.03%, leading to a market volume of US$41.85m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$12,290.00m in 2024.
In Colombia, there is a growing demand for innovative and affordable anti-hypertensive drugs due to the high prevalence of hypertension in the population.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Colombia has been growing at a steady pace in recent years.

Customer preferences: Colombian customers have been increasingly aware of the importance of managing hypertension, which has led to a rise in demand for anti-hypertensive drugs. Patients are also more willing to seek medical help for hypertension, leading to increased prescription of anti-hypertensive drugs.

Trends in the market: The Anti-Hypertensive Drugs market in Colombia has seen a shift towards combination therapies, with doctors prescribing a combination of drugs to manage hypertension. This has led to an increase in demand for fixed-dose combinations of anti-hypertensive drugs. There has also been a rise in the use of generic drugs, as they are more affordable than branded drugs.

Local special circumstances: Colombia has a universal healthcare system, which has led to increased access to healthcare for the population. This has contributed to the rise in demand for anti-hypertensive drugs. The government has also implemented policies to promote the use of generic drugs, which has led to an increase in the use of generic anti-hypertensive drugs.

Underlying macroeconomic factors: Colombia has seen steady economic growth in recent years, which has led to an increase in disposable income for the population. This has contributed to the rise in demand for anti-hypertensive drugs. The pharmaceutical industry in Colombia has also been growing, leading to increased availability of anti-hypertensive drugs in the market.

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.