Anti-Hypertensive Drugs - Guinea

Guinea

Highlights

In Guinea, the revenue in the Anti-Hypertensive Drugs market is anticipated to reach US$1.17m by 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 0.26%, leading to a market volume of US$1.19m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, amounting to US$12.29bn in 2024.
Guinea's anti-hypertensive drugs market is witnessing a surge in demand due to the rising prevalence of hypertension in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Guinea have been increasingly preferring Anti-Hypertensive Drugs due to the high prevalence of hypertension in the country. Hypertension is a major public health concern in Guinea, affecting a significant proportion of the population. As a result, there is a high demand for Anti-Hypertensive Drugs to manage the condition.

Trends in the market: The Anti-Hypertensive Drugs market in Guinea has been growing steadily over the years. This growth can be attributed to the increasing prevalence of hypertension in the country. Additionally, there has been an increase in the availability of Anti-Hypertensive Drugs in the market, as more pharmaceutical companies are entering the market to meet the growing demand.

Local special circumstances: Guinea is a low-income country with a high burden of communicable and non-communicable diseases. The country has a weak health system, which makes it difficult for patients to access quality healthcare services. This has led to a high prevalence of hypertension, which is often undiagnosed and untreated. As a result, there is a high demand for Anti-Hypertensive Drugs to manage the condition.

Underlying macroeconomic factors: Guinea has a small economy with limited resources. The country heavily relies on agriculture and mining, which are vulnerable to external shocks. Additionally, the country has a high poverty rate, which limits the purchasing power of the population. These factors have limited the growth of the pharmaceutical industry in the country, making it difficult for local companies to compete with multinational companies. However, the government has implemented policies to promote local production of pharmaceuticals, which could potentially boost the growth of the industry in the future.

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.