Anti-Hypertensive Drugs - Kuwait

Kuwait

The Anti-Hypertensive Drugs market in Kuwait is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$17.65m Kuwaiti Dinar by 2024.
This indicates a promising future for the market in the country.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 0.07% between 2024 and 2029.
As a result, the market volume is predicted to reach US$17.71m Kuwaiti Dinar by 2029.
This steady growth showcases the potential for expansion and development within the Anti-Hypertensive Drugs market in Kuwait.
In terms of global comparison, United States is expected to generate the highest revenue in the Anti-Hypertensive Drugs market.
It is projected to reach a staggering US$12,290.00m Kuwaiti Dinar by 2024.
This highlights the dominant position of the United States in this particular market.
Despite the high prevalence of hypertension in Kuwait, the market for anti-hypertensive drugs is witnessing a surge due to increasing awareness and government initiatives.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Anti-Hypertensive Drugs in Kuwait has been on a steady rise in recent years.

Customer preferences: Kuwait has a high prevalence of hypertension, which has led to a higher demand for Anti-Hypertensive Drugs. The country has a large aging population, which is more susceptible to hypertension, and this has also contributed to the increased demand for these drugs. Additionally, there is a growing trend towards self-medication in Kuwait, which has led to an increase in the purchase of over-the-counter Anti-Hypertensive Drugs.

Trends in the market: The Anti-Hypertensive Drugs market in Kuwait is dominated by branded drugs, with a few generic drugs making up a small portion of the market. However, there has been a recent push towards the use of generic drugs, as they are more affordable and offer the same efficacy as branded drugs. This trend is expected to continue in the coming years, as the government seeks to reduce healthcare costs.

Local special circumstances: Kuwait has a universal healthcare system, which means that the government is the largest purchaser of drugs in the country. This has led to a highly regulated market, with strict pricing controls and a limited number of drugs available for purchase. Additionally, the government has been investing heavily in healthcare infrastructure, which has led to an increase in the number of hospitals and clinics in the country.

Underlying macroeconomic factors: Kuwait has a high GDP per capita, which has led to a higher demand for healthcare services. Additionally, the country has a large expatriate population, which has contributed to the growth of the healthcare sector. However, the country is heavily dependent on oil exports, which has led to fluctuations in the economy and may impact healthcare spending in the future.

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.