Anti-Hypertensive Drugs - Singapore

Singapore

Highlights

Singapore is expected to see a projected revenue of US$34.61m in the Anti-Hypertensive Drugs market by 2024.
The market is anticipated to experience an annual growth rate of 1.00%, with a market volume of US$36.37m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue in the global market, with US$12.29bn in 2024.
In Singapore, the demand for innovative and cost-effective anti-hypertensive drugs is rising due to the country's aging population and increasing healthcare expenditure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Singapore is one of the most developed countries in Southeast Asia, with a strong economy and a well-established healthcare system. The Anti-Hypertensive Drugs market in Singapore is an important part of the pharmaceutical industry in the country, catering to the needs of a significant portion of the population.

Customer preferences: Anti-hypertensive drugs are used to treat high blood pressure, a common condition in Singapore. Due to the aging population and increasing prevalence of lifestyle diseases such as obesity, the demand for anti-hypertensive drugs has been on the rise in recent years. Customers in Singapore generally prefer drugs that are effective, affordable, and have minimal side effects. They also prefer to purchase drugs from reputable brands and reliable sources.

Trends in the market: The Anti-Hypertensive Drugs market in Singapore has been growing steadily in recent years, driven by factors such as the increasing prevalence of high blood pressure and the availability of new and innovative drugs. The market has also been impacted by the COVID-19 pandemic, with some customers opting to switch to online pharmacies for their drug purchases. The trend towards personalized medicine is also expected to drive growth in the market, as doctors increasingly prescribe drugs based on the individual needs of their patients.

Local special circumstances: Singapore has a well-established healthcare system, with a strong emphasis on preventive medicine and early detection of diseases. This has helped to increase awareness of high blood pressure and the importance of regular check-ups and medication. The government also provides subsidies for certain types of drugs, making them more affordable for patients. In addition, the country has a highly educated population that is well-informed about health issues and medication.

Underlying macroeconomic factors: Singapore's economy is highly developed, with a high GDP per capita and a strong emphasis on innovation and technology. This has helped to attract pharmaceutical companies to the country, leading to a competitive and dynamic market for anti-hypertensive drugs. The government's focus on healthcare and well-being has also created a favorable environment for the industry, with policies aimed at promoting research and development, as well as improving access to healthcare services. Overall, the Anti-Hypertensive Drugs market in Singapore is expected to continue growing in the coming years, driven by a combination of demographic, economic, and healthcare-related factors.

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.