Anti-Hypertensive Drugs - Dominican Republic

Dominican Republic

Highlights

The revenue in the Anti-Hypertensive Drugs market in the Dominican Republic is estimated to reach US$10.71m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 0.86%, leading to a market volume of US$11.18m by 2029.
When comparing globally, United States is projected to generate the highest revenue with US$12.29bn in 2024.
The Dominican Republic has seen a rise in demand for generic anti-hypertensive drugs due to their affordability and accessibility.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Anti-Hypertensive Drugs in Dominican Republic has been increasing steadily over the years, driven by a growing aging population and rising prevalence of hypertension in the country.

Customer preferences: Patients in Dominican Republic prefer generic versions of Anti-Hypertensive Drugs due to their affordability and availability. However, there is also a growing demand for branded drugs among the middle and upper class population who are willing to pay a premium for quality and efficacy.

Trends in the market: The Anti-Hypertensive Drugs market in Dominican Republic is witnessing a shift towards combination therapies that offer better efficacy and convenience to patients. The market is also witnessing an increasing trend towards home healthcare and telemedicine, which is driving the demand for remote patient monitoring devices and digital health solutions.

Local special circumstances: The healthcare system in Dominican Republic is predominantly public, with limited private healthcare facilities. This has led to a high burden on the public healthcare system, resulting in long waiting times and limited access to specialized care. As a result, patients often resort to self-medication or seek treatment from unqualified healthcare providers, leading to a high prevalence of counterfeit drugs and medication errors.

Underlying macroeconomic factors: The Dominican Republic has a growing aging population, with over 10% of the population aged 65 and above. This demographic shift is driving the demand for Anti-Hypertensive Drugs, as hypertension is more prevalent among older adults. Additionally, the country has been experiencing steady economic growth over the years, which has led to an increase in healthcare spending and improved access to healthcare services. However, the country still faces challenges such as income inequality and limited access to healthcare in rural areas.

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.