Anti-Hypertensive Drugs - Panama

Panama

The projected revenue for the Anti-Hypertensive Drugs market in Panama is expected to reach US$10.50m in 2024.
This revenue is estimated to exhibit an annual growth rate (CAGR 2024-2029) of 0.84%, leading to a market volume of US$10.95m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, amounting to US$12,290.00m in 2024.
The demand for anti-hypertensive drugs in Panama is witnessing a significant rise due to the increasing prevalence of hypertension in the country.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Panama has been experiencing growth in recent years due to several factors.

Customer preferences: Panamanian consumers are becoming more health-conscious, leading to an increase in demand for pharmaceutical products. The aging population is also contributing to the growth of the Anti-Hypertensive Drugs market as hypertension is more prevalent among older adults.

Trends in the market: The Anti-Hypertensive Drugs market in Panama is expected to continue growing due to the increasing prevalence of hypertension and the aging population. The market is also being driven by the availability of a wide range of drugs, including ACE inhibitors, calcium channel blockers, and diuretics, among others.

Local special circumstances: Panama's healthcare system is divided into two sectors: public and private. The public sector provides healthcare services to approximately 80% of the population, while the private sector serves the remaining 20%. The public sector is heavily subsidized by the government, and as a result, the cost of medications is relatively low. However, the quality of care in the public sector is often lower than that of the private sector, leading some consumers to seek care from private providers.

Underlying macroeconomic factors: Panama's economy has been growing steadily in recent years, with a GDP growth rate of 3.7% in 2019. This growth has been driven by the country's strategic location, favorable business climate, and strong infrastructure. The growth of the Anti-Hypertensive Drugs market in Panama is also being fueled by the country's increasing healthcare expenditure, which is expected to continue growing in the coming years.

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.