Anti-Hypertensive Drugs - Tanzania

Tanzania

Highlights

The Anti-Hypertensive Drugs market in Tanzania is projected to reach a revenue of US$4.17m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 0.81%, leading to a market volume of US$4.34m by 2029.
In comparison to other countries, United States will generate the highest revenue, amounting to US$12.29bn in 2024.
Tanzania's market for anti-hypertensive drugs is experiencing a growing demand due to the rising prevalence of hypertension in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Anti-Hypertensive Drugs market in Tanzania is experiencing significant growth in recent years.

Customer preferences: Tanzania is a country with a high prevalence of hypertension, with approximately one-third of the adult population affected. This has led to an increase in demand for anti-hypertensive drugs in the country. Customers in Tanzania are increasingly opting for combination drugs, which offer the convenience of taking multiple medications in a single pill. This trend is in line with global market trends, as combination drugs are becoming increasingly popular due to their ease of use.

Trends in the market: The Anti-Hypertensive Drugs market in Tanzania is witnessing the entry of several new players, which is intensifying competition in the market. This is leading to a decrease in prices of anti-hypertensive drugs, making them more accessible to a larger segment of the population. Additionally, the market is witnessing an increased focus on generic drugs, which are more affordable than branded drugs. This trend is in line with global market trends, as generic drugs are becoming increasingly popular due to their cost-effectiveness.

Local special circumstances: One of the unique features of the Anti-Hypertensive Drugs market in Tanzania is the prevalence of traditional medicine. Many people in Tanzania still prefer traditional medicine over modern medicine, which is affecting the growth of the Anti-Hypertensive Drugs market in the country. However, the government is taking steps to promote modern medicine and increase awareness about the benefits of anti-hypertensive drugs.

Underlying macroeconomic factors: The Tanzanian economy has been growing steadily in recent years, which has led to an increase in disposable income and an expansion of the middle class. This has resulted in an increase in demand for healthcare services, including anti-hypertensive drugs. Additionally, the government is investing in healthcare infrastructure, which is improving access to healthcare services in the country. These factors are contributing to the growth of the Anti-Hypertensive Drugs market in Tanzania.

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.