Anti-Hypertensive Drugs - North Macedonia

North Macedonia

The revenue of the Anti-Hypertensive Drugs market in North Macedonia is estimated to reach US$1.62m by the year 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 0.73%, leading to a market volume of US$1.68m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$12,290.00m in 2024.
North Macedonia has seen a surge in the demand for generic anti-hypertensive drugs due to their cost-effectiveness and accessibility.

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

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Analyst Opinion

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

Customer preferences: Patients in North Macedonia are increasingly seeking out anti-hypertensive drugs that are effective and affordable. They are also increasingly aware of the importance of managing hypertension, which has led to an increase in demand for these drugs.

Trends in the market: One of the major trends in the Anti-Hypertensive Drugs market in North Macedonia is the increasing availability of generic drugs. This has led to a decrease in the price of these drugs, making them more accessible to patients. Another trend is the increasing use of combination therapies, which has been shown to be more effective in managing hypertension than monotherapy. Additionally, there has been an increase in the use of fixed-dose combinations, which simplifies the dosing regimen for patients.

Local special circumstances: North Macedonia has a high prevalence of hypertension, with over a third of the population affected. This has led to a high demand for anti-hypertensive drugs in the country. Additionally, there is a lack of awareness about hypertension and its management among the general population, which has led to a need for increased education and awareness campaigns.

Underlying macroeconomic factors: The healthcare system in North Macedonia is undergoing reforms, which has led to an increase in the availability of healthcare services, including the availability of anti-hypertensive drugs. Additionally, the country's economy has been growing steadily, which has led to an increase in healthcare spending. However, there are still challenges in the healthcare system, including a shortage of healthcare professionals and a lack of funding for healthcare services.

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.