Anti-Hypertensive Drugs - NAFTA

NAFTA

Highlights

The Anti-Hypertensive Drugs market in NAFTA is anticipated to witness a significant increase in revenue, with projections indicating a substantial growth to reach US$12.83bn by 2024.
The market is expected to continue expanding at an annual growth rate of -0.46% (CAGR 2024-2029), ultimately leading to a market volume of US$12.54bn by 2029.
When compared globally, United States is predicted to generate the highest revenue, with an estimated US$12.29bn in 2024.
A recent surge in demand for anti-hypertensive drugs in the NAFTA region has led to increased competition among pharmaceutical companies.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: There has been a growing demand for anti-hypertensive drugs in the NAFTA region due to an increase in the prevalence of hypertension. This has led to an increased focus on preventive healthcare, leading to more people seeking treatment for hypertension.

Trends in the market: The United States is the largest market for anti-hypertensive drugs in the NAFTA region, followed by Canada and Mexico. The market has been dominated by patented drugs, but with the expiration of several patents, there has been a rise in the production and sale of generic drugs. This has led to increased competition in the market, resulting in lower prices for consumers.

Local special circumstances: In Mexico, there has been a rise in the number of pharmacies and drugstores, making it easier for people to access anti-hypertensive drugs. In Canada, the government has implemented price controls on prescription drugs, which has resulted in lower prices for consumers.

Underlying macroeconomic factors: The NAFTA region has a large aging population, which has contributed to the increase in the prevalence of hypertension. Additionally, the region has a high prevalence of obesity, which is a major risk factor for hypertension. The region's strong healthcare infrastructure and high levels of healthcare spending have also contributed to the growth of the anti-hypertensive drugs market.In conclusion, the Anti-Hypertensive Drugs market in NAFTA has been experiencing growth due to an increase in the prevalence of hypertension, a rise in preventive healthcare, and the expiration of several patents. The market has been dominated by patented drugs, but the rise in the production and sale of generic drugs has led to increased competition and lower prices for consumers. The region's strong healthcare infrastructure and high levels of healthcare spending, coupled with a large aging population and high prevalence of obesity, have contributed to the growth of the market.

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.