Anti-Hypertensive Drugs - Turkey

Turkey

The projected revenue in the Anti-Hypertensive Drugs market in Turkey is estimated to reach US$37.26m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -0.38%, leading to a market volume of US$36.55m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$12,290.00m in 2024.
In Turkey, the market for anti-hypertensive drugs is witnessing a surge due to the rising prevalence of hypertension among the population.

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

Market

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Currency

Analyst Opinion

The Anti-Hypertensive Drugs market in Turkey has seen steady growth over the past few years.

Customer preferences: Turkey's aging population and unhealthy lifestyle choices have led to an increase in hypertension cases, leading to a higher demand for anti-hypertensive drugs. Patients in Turkey prefer taking combination drugs over single-molecule drugs due to their convenience and effectiveness.

Trends in the market: The Turkish government has implemented policies to increase the affordability of drugs, leading to a rise in the consumption of anti-hypertensive drugs. The market is dominated by generic drugs, with local manufacturers having a significant market share. The market is expected to continue growing due to the increasing prevalence of hypertension in the country.

Local special circumstances: Turkey's healthcare system is primarily funded by the government, with private healthcare providers catering to a small percentage of the population. The government has implemented policies to increase access to healthcare, especially in rural areas. However, the healthcare infrastructure in the country still needs improvement, with a shortage of healthcare professionals and outdated medical equipment.

Underlying macroeconomic factors: Turkey's pharmaceutical industry has been growing rapidly, with the government promoting local drug manufacturing to reduce the country's dependence on imports. The country's strategic location has made it a hub for pharmaceutical exports to the Middle East and Europe. The Turkish lira's depreciation has made imported drugs more expensive, leading to a shift towards locally manufactured drugs. However, political instability and economic uncertainty have led to a decrease in foreign investment in the country.

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.