Anti-Hypertensive Drugs - Oman

Oman

The projected revenue for the Anti-Hypertensive Drugs market in Oman is expected to reach US$7.65m in 2024.
It is estimated that the revenue will experience an annual growth rate of 0.34% from 2024 to 2029, resulting in a market volume of US$7.78m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$12,290.00m in 2024.
Oman's growing aging population and high prevalence of hypertension is driving the demand for anti-hypertensive drugs in the country.

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

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Analyst Opinion

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

Customer preferences: The demand for Anti-Hypertensive Drugs in Oman is driven by the increasing prevalence of hypertension among the population. According to the World Health Organization, hypertension is a major health concern in Oman, affecting over 30% of the adult population. As a result, there is a growing need for effective and affordable medications to manage this condition.

Trends in the market: One of the key trends in the Anti-Hypertensive Drugs market in Oman is the increasing availability of generic drugs. Generic drugs are becoming more popular due to their lower cost compared to branded drugs. This has led to increased competition in the market, which has resulted in lower prices for consumers.Another trend in the market is the growing popularity of combination therapies. Combination therapies involve the use of two or more drugs to manage hypertension. This approach is becoming more common as it allows for better management of the condition and reduces the risk of side effects associated with high doses of a single drug.

Local special circumstances: Oman has a well-developed healthcare system, with both private and public healthcare facilities available. However, the majority of the population relies on the public healthcare system, which provides free or low-cost healthcare services. This has led to a higher demand for affordable medications, including Anti-Hypertensive Drugs.

Underlying macroeconomic factors: The growth of the Anti-Hypertensive Drugs market in Oman is driven by several macroeconomic factors. These include the increasing prevalence of hypertension, the growing availability of generic drugs, and the popularity of combination therapies. Additionally, the government's focus on improving healthcare services and increasing access to affordable medications 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.