Anti-Hypertensive Drugs - Ghana

Ghana

The Anti-Hypertensive Drugs market in Ghana is expected to witness a significant increase in revenue, reaching a projected value of US$4.12m by 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 0.05%, ultimately leading to a market volume of US$4.13m by 2029.
In comparison to other countries worldwide, United States is projected to dominate the market, generating the highest revenue of US$12,290.00m in 2024.
Ghana's market for anti-hypertensive drugs is experiencing a surge in demand due to the country's high prevalence of hypertension.

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

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Analyst Opinion

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

Customer preferences: Ghanaians have become increasingly aware of the importance of managing hypertension, which has led to an increase in demand for anti-hypertensive drugs. Patients are also becoming more informed about the different types of drugs available and are seeking out drugs that are more effective and have fewer side effects.

Trends in the market: There has been a shift towards the use of combination therapy, where two or more drugs are used to manage hypertension. This is because combination therapy has been found to be more effective in controlling blood pressure than using a single drug. There has also been an increase in the use of generic drugs, which are more affordable than branded drugs.

Local special circumstances: The Ghanaian government has been implementing policies to improve access to healthcare, which has led to an increase in the number of people seeking medical care. This has also contributed to the rise in demand for anti-hypertensive drugs. However, there are still challenges with the distribution of drugs to rural areas, which can limit access to medication for some patients.

Underlying macroeconomic factors: Ghana has experienced economic growth in recent years, which has led to an increase in disposable income. This has enabled more people to afford healthcare, including medication for hypertension. Additionally, the country has a growing aging population, which is more susceptible to hypertension. This demographic shift has also contributed to the rise in demand for anti-hypertensive 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.