Anti-Hypertensive Drugs - New Zealand

New Zealand

The projected revenue in the Anti-Hypertensive Drugs market in New Zealand is expected to reach US$27.67m in 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of -0.01%, leading to a market volume of US$27.65m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$12,290.00m in 2024.
Despite a small market size, New Zealand has witnessed a growing demand for innovative anti-hypertensive drugs due to an aging population and increasing awareness about cardiovascular health.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in New Zealand has seen steady growth in recent years.

Customer preferences: New Zealand has a high prevalence of hypertension, with about one-third of adults affected. This has led to a high demand for anti-hypertensive drugs in the country. Customers in New Zealand are increasingly seeking out drugs that are effective and have minimal side effects. They also tend to prefer drugs that are affordable and covered by insurance.

Trends in the market: The Anti-Hypertensive Drugs market in New Zealand has seen a shift towards newer classes of drugs such as ACE inhibitors, ARBs, and calcium channel blockers. These drugs are preferred over older drugs such as beta-blockers and diuretics due to their better efficacy and fewer side effects. The market has also seen an increase in the availability of generic drugs, which has led to increased competition and lower prices.

Local special circumstances: New Zealand has a publicly funded healthcare system, which means that the government plays a significant role in determining which drugs are available and at what price. The government's Pharmaceutical Management Agency (PHARMAC) negotiates with drug manufacturers to ensure that drugs are available at an affordable price. This has led to a situation where some drugs that are available in other countries are not available in New Zealand.

Underlying macroeconomic factors: New Zealand has a small population and a relatively small pharmaceutical market. This means that drug manufacturers may be less likely to invest in the country, which can limit the availability of certain drugs. The country also has a strong regulatory environment, which can make it more difficult for new drugs to be approved for use. However, the government's efforts to negotiate lower prices for drugs has helped to make anti-hypertensive drugs more affordable for customers.

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.