Anti-Hypertensive Drugs - Myanmar

Myanmar

The projected revenue for the Anti-Hypertensive Drugs market in Myanmar is expected to reach US$4.55m in 2024.
With an annual growth rate (CAGR 2024-2029) of -0.13%, the market volume is estimated to reach US$4.52m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue of US$12,290.00m in 2024.
Myanmar's anti-hypertensive drug market is experiencing a surge in demand due to the rising prevalence of hypertension in the country.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Myanmar has been steadily growing in recent years due to several factors.

Customer preferences: Myanmar has a high prevalence of hypertension, which has led to an increase in demand for anti-hypertensive drugs. Patients are increasingly seeking out effective and affordable treatments for their condition, leading to a rise in sales of these drugs.

Trends in the market: One trend in the market is the shift towards generic drugs. Many patients in Myanmar are price-sensitive and prefer to purchase cheaper generic drugs instead of branded ones. This has led to an increase in the production and availability of generic anti-hypertensive drugs in the market.Another trend is the increasing use of combination therapies. Physicians in Myanmar are increasingly prescribing combination therapies to treat hypertension, which has led to an increase in sales of these drugs.

Local special circumstances: One of the unique circumstances in Myanmar is the lack of regulation in the pharmaceutical industry. This has led to a proliferation of counterfeit drugs in the market, which can be dangerous for patients. However, the government is taking steps to address this issue by increasing regulation and cracking down on counterfeit drug manufacturers.

Underlying macroeconomic factors: Myanmar's economy has been growing in recent years, which has led to an increase in healthcare spending. This has made it easier for patients to access anti-hypertensive drugs and has led to an increase in sales.In conclusion, the Anti-Hypertensive Drugs market in Myanmar is growing due to a high prevalence of hypertension, increasing demand for affordable treatments, and a shift towards generic drugs and combination therapies. However, the proliferation of counterfeit drugs in the market remains a concern, and the government is taking steps to address this issue. Myanmar's growing economy has also contributed to the growth of 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.