Anti-Hypertensive Drugs - Madagascar

Madagascar

The projected revenue in the Anti-Hypertensive Drugs market in Madagascar is expected to reach US$1.13m in 2024.
The revenue in the market is anticipated to display an annual growth rate (CAGR 2024-2029) of 0.70%, leading to a market volume of US$1.17m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$12,290.00m in 2024.
Madagascar's market for anti-hypertensive drugs is witnessing an increasing demand due to the rising prevalence of hypertension among its population.

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

Market

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Analyst Opinion

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

Customer preferences: The demand for Anti-Hypertensive Drugs in Madagascar has been on the rise due to the increasing prevalence of hypertension in the country. Patients are becoming more aware of the condition and seeking medical attention, leading to an increase in demand for Anti-Hypertensive Drugs.

Trends in the market: The Anti-Hypertensive Drugs market in Madagascar is primarily driven by the sale of generic drugs. The market is dominated by local pharmaceutical companies that offer affordable generic drugs. However, there is also a growing demand for branded drugs, particularly from the middle and upper classes who are willing to pay a premium for imported branded drugs.

Local special circumstances: The pharmaceutical industry in Madagascar is heavily regulated, with strict laws governing the importation and sale of drugs. This has led to a limited number of pharmaceutical companies operating in the country, resulting in a lack of competition in the market. Furthermore, the country's healthcare system is underfunded and understaffed, leading to a shortage of medical personnel and facilities.

Underlying macroeconomic factors: Madagascar is one of the poorest countries in the world, with a large portion of the population living below the poverty line. This has resulted in a lack of access to healthcare for many citizens, particularly those living in rural areas. The government has been working to improve the country's healthcare system, but progress has been slow due to limited resources. Additionally, the country's economy is heavily reliant on agriculture, which has been affected by natural disasters such as cyclones and droughts, leading to a decrease in income for many citizens. This has further reduced the affordability of healthcare and medication for many people.

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.