Anti-Hypertensive Drugs - Morocco

Morocco

In Morocco, the Anti-Hypertensive Drugs market is expected to experience significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$12.13m.
Furthermore, the market is anticipated to witness a steady annual growth rate (CAGR 2024-2029) of 0.23%.
This growth trajectory is predicted to result in a market volume of US$12.27m by 2029.
When compared to other countries globally, United States is expected to generate the highest revenue in the Anti-Hypertensive Drugs market.
In 2024 alone, United States is projected to generate a revenue of US$12,290.00m.
In Morocco, the demand for anti-hypertensive drugs is steadily increasing due to the rising prevalence of hypertension among the population.

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

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Analyst Opinion

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

Customer preferences: Moroccan consumers are increasingly concerned about their health and are willing to invest in medication to manage chronic conditions such as hypertension. Many consumers prefer to purchase medication from pharmacies rather than hospitals, which has led to an increase in demand for anti-hypertensive drugs in the retail sector.

Trends in the market: There has been a shift towards generic drugs in Morocco due to their lower cost compared to brand-name drugs. This has led to increased competition among manufacturers of generic anti-hypertensive drugs. Additionally, there has been a trend towards combination therapies, where two or more drugs are combined into a single pill for convenience and improved efficacy.

Local special circumstances: Morocco has a high prevalence of hypertension, with approximately 30% of the population affected. This has led to a high demand for anti-hypertensive drugs in the country. Additionally, the Moroccan government has implemented several initiatives to improve access to healthcare, which has contributed to the growth of the anti-hypertensive drugs market.

Underlying macroeconomic factors: Morocco has a growing economy, which has led to an increase in disposable income and healthcare spending. Additionally, the country has a young and growing population, which has contributed to the demand for anti-hypertensive drugs. The Moroccan government has also implemented policies to encourage foreign investment in the pharmaceutical industry, which has led to increased competition and innovation in the market.

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.