Anti-Hypertensive Drugs - Turkmenistan

Turkmenistan

The Anti-Hypertensive Drugs market in Turkmenistan is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$7.04m by 2024.
Furthermore, it is anticipated that the market will exhibit a compound annual growth rate (CAGR) of 1.25% between 2024 and 2029, resulting in a market volume of US$7.49m by the end of 2029.
When compared globally, United States is expected to generate the highest revenue in the Anti-Hypertensive Drugs market, with an estimated revenue of US$12,290.00m in 2024.
Turkmenistan's anti-hypertensive drug market is experiencing a surge in demand due to an 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 Turkmenistan has been steadily growing in recent years.

Customer preferences: Turkmenistan has a high prevalence of hypertension, which has led to an increasing demand for anti-hypertensive drugs. The country's aging population and sedentary lifestyle also contribute to the high incidence of hypertension.

Trends in the market: The Anti-Hypertensive Drugs market in Turkmenistan is dominated by imported drugs, with a few local manufacturers. The market is highly competitive, with a large number of players vying for market share. The trend towards generic drugs has also impacted the market, with many consumers opting for cheaper alternatives.

Local special circumstances: Turkmenistan's healthcare system is still developing, and access to quality healthcare is limited in many parts of the country. This has led to a reliance on self-medication and over-the-counter drugs. The government has been investing in healthcare infrastructure in recent years, which is expected to improve access to healthcare and increase demand for prescription drugs.

Underlying macroeconomic factors: Turkmenistan's economy is heavily dependent on its natural gas reserves, which account for the majority of the country's export earnings. The government has been investing heavily in infrastructure and social programs in recent years, which is expected to drive economic growth and increase consumer spending. However, the country's closed economy and limited foreign investment may limit the growth potential of the Anti-Hypertensive Drugs market in the long term.

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.