Anti-Hypertensive Drugs - Uruguay

Uruguay

The Anti-Hypertensive Drugs market in Uruguay is expected to witness a significant increase in revenue, projected to reach US$10.60m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of -0.09%, resulting in a market volume of US$10.55m by 2029.
When compared globally, United States is forecasted to generate the highest revenue, with an estimated US$12,290.00m in 2024.
In Uruguay, there has been a growing demand for locally-produced anti-hypertensive drugs due to the increasing prevalence of hypertension in the population.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Uruguay has been steadily growing in recent years.

Customer preferences: Uruguay, like many other countries, has an aging population that is more susceptible to hypertension. As a result, there is a growing demand for anti-hypertensive drugs among the elderly population. Additionally, there is a general trend towards preventative healthcare in Uruguay, with people taking a more proactive approach to managing their health.

Trends in the market: One trend in the Anti-Hypertensive Drugs market in Uruguay is the increasing availability of generic drugs. This has led to a decrease in prices and an increase in competition among drug manufacturers. Another trend is the growing popularity of combination drugs, which offer a more convenient way to manage hypertension by combining multiple medications into a single pill.

Local special circumstances: Uruguay has a universal healthcare system, which means that the government is the largest purchaser of drugs in the country. This has a significant impact on the Anti-Hypertensive Drugs market, as the government has the power to negotiate prices with drug manufacturers. Additionally, there is a strong preference for locally produced drugs in Uruguay, which has led to the development of a domestic pharmaceutical industry.

Underlying macroeconomic factors: Uruguay has a stable economy with a strong middle class, which has contributed to the growth of the Anti-Hypertensive Drugs market. Additionally, the government has implemented policies to promote healthcare access and affordability, which has further increased demand for anti-hypertensive drugs. However, the market is not without its challenges, including increasing competition from generic drugs and the need to balance affordability with innovation in drug development.

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.