Anti-Hypertensive Drugs - Spain

Spain

In Spain, the projected revenue for the Anti-Hypertensive Drugs market is expected to reach US$290.30m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.55%, leading to a market volume of US$282.40m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$12,290.00m in 2024.
Spain, known for its strong healthcare system, is experiencing an increasing demand for advanced anti-hypertensive drugs due to its aging population and rising prevalence of hypertension.

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

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Analyst Opinion

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

Customer preferences: The Spanish population has been increasingly adopting a healthier lifestyle, which includes regular exercise and a balanced diet. However, the prevalence of hypertension remains high, particularly among the elderly population. As a result, there is a growing demand for anti-hypertensive drugs in Spain.

Trends in the market: One of the major trends in the Anti-Hypertensive Drugs market in Spain is the increasing use of combination therapies. Physicians are increasingly prescribing combination therapies as they are more effective in controlling blood pressure than monotherapies. Furthermore, combination therapies offer the convenience of taking a single pill instead of multiple pills.Another trend in the market is the increasing use of generic drugs. The Spanish government has been promoting the use of generic drugs as a cost-saving measure. This has led to a shift towards the use of generic drugs in the Anti-Hypertensive Drugs market in Spain.

Local special circumstances: Spain has a universal healthcare system that provides free or low-cost healthcare to its citizens. This has led to a high level of accessibility to healthcare services, including Anti-Hypertensive Drugs.

Underlying macroeconomic factors: The Spanish economy has been recovering from the economic crisis of 2008. This has led to an increase in the disposable income of the population, which has in turn led to an increase in healthcare spending. Furthermore, the aging population in Spain has led to an increase in the prevalence of hypertension, which has contributed to the growth of the Anti-Hypertensive Drugs market in Spain.

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.