Anti-Hypertensive Drugs - Western Africa

Western Africa

The market for Anti-Hypertensive Drugs market in Western Africa is estimated to witness a significant growth in revenue, with projections indicating it will reach US$50.16m by 2024.
Furthermore, it is predicted to demonstrate a steady annual growth rate (CAGR 2024-2029) of 1.43%, ultimately reaching a market volume of US$53.86m by 2029.
In a global context, United States is anticipated to generate the highest revenue in this market, with an estimated US$12,290.00m in 2024.
In Western Africa, there is an increasing demand for affordable and accessible anti-hypertensive drugs to combat the rising prevalence of hypertension in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Anti-Hypertensive Drugs in Western Africa has been increasing steadily in recent years.

Customer preferences: The preference for Western medicine over traditional medicine has been a major driver of the Anti-Hypertensive Drugs market in Western Africa. Additionally, the rising prevalence of hypertension in the region has led to an increase in demand for these drugs.

Trends in the market: One of the major trends in the Anti-Hypertensive Drugs market in Western Africa is the increasing availability of generic drugs. This has made these drugs more affordable and accessible to a larger population. Another trend is the growing use of combination therapies, which provide more effective treatment for hypertension.

Local special circumstances: The lack of healthcare infrastructure in many parts of Western Africa has made it difficult for patients to access healthcare services. This has led to an increase in self-medication and the use of over-the-counter drugs. Additionally, the high cost of healthcare in the region has made it difficult for many patients to afford the necessary treatment.

Underlying macroeconomic factors: The economic growth in Western Africa has led to an increase in disposable income, which has made healthcare more affordable for a larger population. Additionally, the growing middle class in the region has led to an increase in demand for higher quality healthcare services. However, the lack of healthcare infrastructure and the high cost of healthcare remain major challenges for the Anti-Hypertensive Drugs market in Western Africa.

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.