Anti-Hypertensive Drugs - Hong Kong

Hong Kong

In Hong Kong, the revenue in the Anti-Hypertensive Drugs market is estimated to reach US$40.76m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 0.09%, leading to a market volume of US$40.95m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, amounting to US$12,290.00m in 2024.
The demand for anti-hypertensive drugs in Hong Kong is on the rise due to the increasing prevalence of hypertension among the population.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Hong Kong has seen a steady increase in demand over the past few years.

Customer preferences: Hong Kong has a rapidly aging population, and hypertension is a common condition among the elderly. As a result, there is a high demand for anti-hypertensive drugs in the country. Additionally, due to the busy lifestyle of the people in Hong Kong, many prefer to take medication rather than make lifestyle changes to manage their hypertension.

Trends in the market: The market for anti-hypertensive drugs in Hong Kong is dominated by a few major pharmaceutical companies. These companies have been investing heavily in research and development to improve their products and gain a competitive edge. In recent years, there has been a trend towards the development of combination drugs, which offer multiple benefits in a single pill. This has been well-received by patients, as it simplifies their medication regimen.

Local special circumstances: One unique aspect of the market in Hong Kong is the presence of traditional Chinese medicine. Many patients prefer to use herbal remedies to manage their hypertension, which has led to the development of a niche market for herbal anti-hypertensive products. However, these products are not regulated by the government and their efficacy is not well-established, which poses a risk to consumers.

Underlying macroeconomic factors: The healthcare system in Hong Kong is highly developed and accessible to all residents. The government provides subsidies for certain medications, including anti-hypertensive drugs, which makes them more affordable for patients. Additionally, the country has a high GDP per capita, which means that people have more disposable income to spend on healthcare. However, the increasing cost of healthcare in the country has led to concerns about the sustainability of the system in the long run.

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.