Anti-Hypertensive Drugs - Hungary

Hungary

The Anti-Hypertensive Drugs market in Hungary is expected to witness a significant growth in revenue, reaching a projected value of US$21.12m in 2024.
Furthermore, it is anticipated that this market will continue to demonstrate steady growth with an annual growth rate (CAGR 2024-2029) of -0.13%, ultimately resulting in a market volume of US$20.98m by 2029.
When compared globally, it is worth noting that United States is projected to generate the highest revenue in this market, amounting to US$12,290.00m in 2024.
Hungary's market for anti-hypertensive drugs is witnessing a surge in demand due to an aging population and increasing prevalence of hypertension.

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

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Currency

Analyst Opinion

The Anti-Hypertensive Drugs market in Hungary has been experiencing growth in recent years.

Customer preferences: Hungarian consumers are increasingly concerned about their health and are willing to invest in preventative measures. This has led to an increase in demand for anti-hypertensive drugs, as hypertension is a common health issue in Hungary.

Trends in the market: The market for anti-hypertensive drugs in Hungary is becoming more competitive, with both domestic and international pharmaceutical companies vying for market share. This has led to increased innovation and the development of new drugs to meet the needs of Hungarian consumers. Additionally, there has been a shift towards more personalized medicine, with doctors prescribing drugs based on a patient's individual needs and medical history.

Local special circumstances: Hungary has a national health insurance system, which covers the cost of prescription drugs for its citizens. This has made anti-hypertensive drugs more accessible to the general population, leading to an increase in demand. Additionally, the Hungarian government has implemented policies to encourage the use of generic drugs, which has led to a decrease in the cost of anti-hypertensive drugs.

Underlying macroeconomic factors: Hungary has experienced steady economic growth in recent years, which has led to an increase in disposable income for many Hungarian consumers. This has allowed them to invest more in their health, including the purchase of anti-hypertensive drugs. Additionally, Hungary has an aging population, which is more susceptible to hypertension and other health issues, leading to an increase 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.