Anti-Hypertensive Drugs - Ireland

Ireland

Highlights

In Ireland, the revenue in the Anti-Hypertensive Drugs market is projected to reach US$46.56m in 2024.
Looking ahead, the market is expected to show an annual growth rate (CAGR 2024-2029) of -0.50%, resulting in a market volume of US$45.41m by 2029.
It is worth noting that in global comparison, United States is anticipated to generate the highest revenue in this market, reaching US$12.29bn in 2024.
Ireland's anti-hypertensive drug market is witnessing a surge in demand due to the country's aging population and increasing awareness of hypertension.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Anti-Hypertensive Drugs market in Ireland has been experiencing a steady growth trend in recent years.

Customer preferences: Patients suffering from hypertension in Ireland have been increasingly opting for anti-hypertensive drugs as a primary mode of treatment. This shift towards drug therapy can be attributed to the convenience and effectiveness of medication in controlling blood pressure levels. Additionally, the aging population in Ireland has been contributing to the growth of the market as hypertension is more prevalent among the elderly.

Trends in the market: The Anti-Hypertensive Drugs market in Ireland has been witnessing a trend towards the adoption of combination therapies. Combination therapies involve the use of two or more drugs to control blood pressure levels in patients. This approach has been gaining popularity as it allows for better control of blood pressure levels and reduces the risk of side effects associated with high doses of a single drug. Furthermore, the market has been seeing an increase in the use of generic drugs due to their cost-effectiveness.

Local special circumstances: The Irish healthcare system is heavily regulated, and this has a significant impact on the Anti-Hypertensive Drugs market. The Health Products Regulatory Authority (HPRA) is responsible for ensuring that all drugs marketed in Ireland are safe and effective. Additionally, the Irish government has been implementing policies aimed at reducing the cost of healthcare, including the cost of prescription drugs. This has led to a shift towards the use of generic drugs in the market.

Underlying macroeconomic factors: The Irish economy has been growing steadily in recent years, and this has had a positive impact on the Anti-Hypertensive Drugs market. As the economy grows, more people are able to afford healthcare, including prescription drugs. Additionally, the aging population in Ireland has been contributing to the growth of the market as hypertension is more prevalent among the elderly. However, the market is also facing challenges such as the impact of Brexit on the pharmaceutical industry and the increasing competition from other modes of treatment such as lifestyle changes and alternative therapies.

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.