Anti-Hypertensive Drugs - Slovakia

Slovakia

The projected revenue in the Anti-Hypertensive Drugs market in Slovakia is expected to reach US$13.63m by 2024.
Furthermore, a steady annual growth rate (CAGR 2024-2029) of -0.38% is anticipated, resulting in a market volume of US$13.37m by 2029.
When comparing globally, United States is forecasted to generate the highest revenue, amounting to US$12,290.00m in 2024.
Slovakia's pharmaceutical market is witnessing a growing demand for anti-hypertensive drugs due to an aging population and increasing awareness about hypertension.

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

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Analyst Opinion

The demand for Anti-Hypertensive Drugs in Slovakia has been growing steadily over the past few years, driven by various factors such as the aging population and the increasing prevalence of hypertension.

Customer preferences: Slovakia has a high prevalence of hypertension, which has led to an increase in demand for Anti-Hypertensive Drugs. The aging population has also contributed to the growth of this market, as the elderly are more likely to suffer from hypertension. Patients in Slovakia prefer to buy Anti-Hypertensive Drugs from pharmacies, which are easily accessible and offer a wide range of products.

Trends in the market: The Anti-Hypertensive Drugs market in Slovakia is expected to continue to grow due to the increasing prevalence of hypertension and the aging population. There is a trend towards more personalized medicine, with doctors prescribing drugs based on the patient's individual needs and medical history. There is also an increasing demand for combination drugs, which offer a more effective treatment for hypertension.

Local special circumstances: Slovakia has a relatively high prevalence of hypertension compared to other countries in Europe. This has led to a higher demand for Anti-Hypertensive Drugs in the country. There are also a number of local manufacturers of Anti-Hypertensive Drugs, which has helped to boost the local economy.

Underlying macroeconomic factors: The Slovakian economy has been growing steadily over the past few years, which has led to an increase in healthcare spending. The government has also implemented various measures to improve access to healthcare, which has helped to boost the demand for Anti-Hypertensive Drugs. However, the market is facing increasing competition from generic drugs, which are often cheaper than branded drugs.

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.