Anti-Hypertensive Drugs - Zimbabwe

Zimbabwe

Highlights

The Anti-Hypertensive Drugs market in Zimbabwe is forecasted to achieve a revenue of US$1.10m by the year 2024.
Moreover, it is anticipated that the market will exhibit a Compound Annual Growth Rate (CAGR) of -1.80% from 2024 to 2029.
This growth trajectory is expected to culminate in a market volume of US$1.00m by 2029.
When compared on a global scale, United States is projected to generate the highest revenue of US$12.29bn in 2024.
Zimbabwe's market for anti-hypertensive drugs is experiencing a surge in 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 Zimbabwe has been developing steadily in recent years due to various factors.

Customer preferences: Zimbabwean customers have shown a growing preference for generic anti-hypertensive drugs due to their affordability. This trend is driven by the high cost of branded drugs and the fact that many Zimbabweans do not have medical insurance. Patients are also increasingly seeking drugs that have fewer side effects and are more effective in treating hypertension.

Trends in the market: There has been a significant increase in the prevalence of hypertension in Zimbabwe, which has driven the demand for anti-hypertensive drugs. This trend is due to various factors, including changes in lifestyle, such as increased consumption of processed foods and lack of physical activity. The government has also been promoting awareness campaigns to educate the public about hypertension, which has contributed to increased demand for anti-hypertensive drugs.

Local special circumstances: Zimbabwe has been facing economic challenges, including high inflation and a shortage of foreign currency. These challenges have affected the availability and affordability of drugs, including anti-hypertensive drugs. The government has been implementing various measures to address these challenges, such as importing drugs from neighboring countries and subsidizing the cost of drugs for vulnerable groups.

Underlying macroeconomic factors: The Anti-Hypertensive Drugs market in Zimbabwe is also influenced by macroeconomic factors such as government policies and regulations. The government has been implementing policies to promote local production of drugs, which has led to the establishment of local pharmaceutical companies. However, these companies face challenges such as high production costs and lack of access to foreign currency to import raw materials. The government has also been regulating drug prices to ensure affordability for the general public.

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.