Anti-Hypertensive Drugs - Ethiopia

Ethiopia

in Ethiopia, a country Eastern_Africa, has been witnessing growth in the market of Anti-Hypertensive Drugs market.
According to projections, the revenue in this market is expected to reach US$4.81m in 2024.
Looking ahead, a steady annual growth rate of 1.26% is anticipated from 2024 to 2029, resulting in a market volume of US$5.12m by 2029.
When comparing the global market, it is notable that United States is expected to generate the highest revenue in this market.
In 2024 alone, United States is projected to generate a revenue of US$12,290.00m.
In Ethiopia, the market for anti-hypertensive drugs is experiencing a significant rise due to the increasing prevalence of hypertension among the population.

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

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Currency

Analyst Opinion

The demand for Anti-Hypertensive Drugs in Ethiopia has been on the rise in recent years.

Customer preferences: Ethiopia has a growing elderly population, which has contributed to the increasing demand for Anti-Hypertensive Drugs. Additionally, the country has a high prevalence of hypertension, which has led to a greater need for these drugs.

Trends in the market: The Anti-Hypertensive Drugs market in Ethiopia has seen an increase in the availability of generic drugs, which has made these drugs more affordable and accessible to the general population. Furthermore, the government has implemented policies to increase the availability of these drugs in rural areas, which has contributed to the growth of the market.

Local special circumstances: One of the challenges facing the Anti-Hypertensive Drugs market in Ethiopia is the lack of awareness about hypertension. Many people in the country are not aware of the risks associated with high blood pressure, which has led to a low rate of diagnosis and treatment. Additionally, there is a shortage of healthcare professionals in the country, which has made it difficult to provide adequate care to those in need.

Underlying macroeconomic factors: Ethiopia is one of the fastest-growing economies in Africa, which has led to an increase in disposable income and a growing middle class. This has contributed to the growth of the Anti-Hypertensive Drugs market as more people are able to afford these drugs. Additionally, the government has invested heavily in the healthcare sector, which has led to an increase in the availability of healthcare services and drugs.

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.