Anti-Hypertensive Drugs - Guatemala

Guatemala

The revenue in Guatemala's Anti-Hypertensive Drugs market is predicted to reach US$8.49m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 0.35%, leading to a market volume of US$8.64m by 2029.
When compared globally, United States is projected to generate the most revenue, amounting to US$12,290.00m in 2024.
Guatemala has seen a surge in the demand for innovative anti-hypertensive drugs due to the increasing prevalence of hypertension among its population.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Guatemala is seeing a steady increase in demand due to various factors.

Customer preferences: Guatemalan customers are becoming more health-conscious and are willing to invest in medications that help them maintain their well-being. The increasing prevalence of hypertension in the country has also led to a rise in demand for anti-hypertensive drugs. Customers are looking for medications that are effective and affordable.

Trends in the market: The Anti-Hypertensive Drugs market in Guatemala is witnessing an increase in the availability of generic drugs. This has led to a decrease in prices, making these medications more accessible to the general public. The market is also seeing an increase in the use of combination drugs, which are more effective in controlling hypertension. The trend towards self-medication is also contributing to the growth of the market, as more and more customers are purchasing medications without a prescription.

Local special circumstances: Guatemala has a large rural population that has limited access to healthcare facilities. This has led to an increase in the sale of anti-hypertensive drugs through non-traditional channels such as pharmacies and local stores. The lack of regulations in these channels has led to concerns about the quality and safety of the medications being sold.

Underlying macroeconomic factors: The Guatemalan economy has been growing steadily over the past few years, leading to an increase in disposable income. This has led to an increase in the demand for healthcare services, including anti-hypertensive drugs. The government has also been investing in the healthcare sector, which has led to an increase in the availability of these medications. However, the high levels of poverty in the country mean that many people still cannot afford these medications, which remains a challenge for 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.