Anti-Hypertensive Drugs - Taiwan

Taiwan

In Taiwan, the projected revenue in the Anti-Hypertensive Drugs market for 2024 is estimated to reach US$77.84m.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -0.22%, leading to a market volume of US$76.98m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, with an estimated US$12,290.00m in 2024.
Taiwan's anti-hypertensive drug market is experiencing a surge in demand due to the country's aging population and increasing prevalence of hypertension.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Taiwan has a rapidly aging population, and hypertension is a common health issue among the elderly. As a result, there is a high demand for anti-hypertensive drugs in the country. Patients in Taiwan typically prefer drugs that are effective and affordable, and with few side effects.

Trends in the market: One notable trend in the Anti-Hypertensive Drugs market in Taiwan is the increasing use of combination therapy. Physicians are prescribing two or more drugs to patients to achieve better blood pressure control. Another trend is the growing popularity of generic drugs. With the government's encouragement and the public's acceptance of generic drugs, the market share of generic anti-hypertensive drugs has been rising steadily.

Local special circumstances: Taiwan has a National Health Insurance (NHI) system that covers more than 99% of the population. The NHI system has a positive impact on the Anti-Hypertensive Drugs market in Taiwan, as it ensures that patients have access to affordable medication. However, the NHI system also puts pressure on drug prices, as the government negotiates with drug manufacturers to keep prices low.

Underlying macroeconomic factors: The Taiwanese government has been implementing policies to promote the development of the biotechnology industry, including the pharmaceutical sector. This has led to increased investment in research and development, which has resulted in the introduction of new drugs in the market. Additionally, the aging population in Taiwan is expected to continue to drive demand for anti-hypertensive drugs in the foreseeable future.

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.