Anti-Hypertensive Drugs - Norway

Norway

Highlights

In Norway, the revenue in the Anti-Hypertensive Drugs market is forecasted to reach US$66.30m in 2024.
It is anticipated that there will be an annual growth rate (CAGR 2024-2029) of -1.02%, leading to a market volume of US$62.98m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$12.29bn in 2024.
Norwegian consumers are increasingly turning to natural remedies and lifestyle changes as a means of managing hypertension, impacting the demand for anti-hypertensive drugs in the market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Anti-Hypertensive Drugs market in Norway has shown interesting trends in recent years.

Customer preferences: Norwegian consumers are increasingly health-conscious and are willing to invest in preventive healthcare. The aging population and the rising incidence of hypertension in the country have also contributed to the growth of the anti-hypertensive drugs market. Patients are seeking effective and safe treatments to manage their condition, and are willing to pay a premium for medications that offer these benefits.

Trends in the market: The Norwegian anti-hypertensive drugs market has seen a shift towards combination therapies, which offer better efficacy and convenience for patients. There has also been a growing focus on personalized medicine, with healthcare providers using genetic testing and other diagnostic tools to tailor treatments to individual patients. This trend is expected to continue as the market becomes more competitive and patients demand more personalized care.

Local special circumstances: Norway has a unique healthcare system, with a strong emphasis on universal coverage and public funding. This has created a favorable environment for the growth of the anti-hypertensive drugs market, as patients have access to affordable medications and healthcare providers are incentivized to prescribe them. Additionally, the Norwegian Medicines Agency has strict regulations in place to ensure the safety and efficacy of drugs sold in the country, which has helped to build trust among patients and healthcare providers.

Underlying macroeconomic factors: The Norwegian economy has been relatively stable in recent years, with steady growth and low unemployment rates. This has created a favorable environment for the healthcare industry, as patients are more willing to invest in their health and healthcare providers have the resources to offer high-quality care. Additionally, the Norwegian government has made healthcare a priority, with significant investments in research and development, which has helped to drive innovation in the anti-hypertensive drugs 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.