Anti-Hypertensive Drugs - Iraq

Iraq

The Anti-Hypertensive Drugs market in Iraq is expected to witness a significant increase in revenue, reaching a projected amount of US$24.47m by 2024.
The market is also anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 0.14%, leading to a market volume of US$24.64m by 2029.
In comparison to other countries worldwide, United States is projected to generate the highest revenue, amounting to US$12,290.00m in 2024.
Iraq has seen a rising demand for anti-hypertensive drugs due to the increasing prevalence of hypertension in the country's population.

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

Market

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Analyst Opinion

The demand for Anti-Hypertensive Drugs in Iraq has been increasing steadily in recent years.

Customer preferences: Customers in Iraq prefer Anti-Hypertensive Drugs that are affordable and easily accessible. They also prefer drugs that have minimal side effects. Due to the lack of advanced medical facilities and trained healthcare professionals in some parts of the country, patients often rely on self-medication and over-the-counter drugs.

Trends in the market: The Anti-Hypertensive Drugs market in Iraq has been growing due to several factors. The increasing prevalence of hypertension in the country has led to a rise in demand for these drugs. Additionally, the government has been taking steps to improve access to healthcare services, which has also contributed to the growth of the market. The market is dominated by generic drugs, which are more affordable than branded drugs.

Local special circumstances: The ongoing political instability and security concerns in Iraq have had a significant impact on the healthcare sector. The lack of investment in healthcare infrastructure has led to a shortage of medical facilities and trained healthcare professionals in some parts of the country. This has made it challenging for patients to access healthcare services, including Anti-Hypertensive Drugs.

Underlying macroeconomic factors: The Iraqi economy has been struggling in recent years due to the decline in oil prices and the ongoing conflict in the country. The economic downturn has led to a decrease in government spending on healthcare, which has had a negative impact on the availability of healthcare services. Additionally, the depreciation of the Iraqi dinar has made it more expensive to import drugs, which has led to an increase in drug prices.

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.