Anti-Hypertensive Drugs - Georgia

Georgia

The Anti-Hypertensive Drugs market in Georgia is anticipated to witness a substantial increase in revenue, with projections indicating a staggering amount of US$2.52m by the year 2024.
Furthermore, it is expected that the market will exhibit a steady annual growth rate (CAGR 2024-2028) of 0.39%, ultimately culminating in a market volume of US$2.56m by 2028.
It is worth noting that, in comparison to other countries across the globe, United States is expected to generate the highest revenue, amounting to a significant sum of US$12,290.00m in 2024.
The demand for anti-hypertensive drugs in Georgia is steadily increasing due to a rising prevalence of hypertension in the population.

Key regions: Germany, United States, France, China, Canada

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Analyst Opinion

The Anti-Hypertensive Drugs market in Georgia has been steadily growing in recent years, driven by a combination of factors such as increasing prevalence of hypertension, growing aging population, and rising awareness about the benefits of early diagnosis and treatment of hypertension.

Customer preferences: Patients in Georgia prefer combination therapies that offer better efficacy and fewer side effects. They also prefer drugs that are affordable and easily accessible. As a result, generic drugs dominate the market, accounting for a significant share of the overall sales.

Trends in the market: The Anti-Hypertensive Drugs market in Georgia has been witnessing a shift towards fixed-dose combinations (FDCs) of two or more drugs, as they offer greater convenience, better compliance, and improved efficacy. The market is also seeing the emergence of new drug classes such as angiotensin receptor-neprilysin inhibitors (ARNIs) that offer superior clinical outcomes.

Local special circumstances: Georgia has a high prevalence of hypertension, with more than 30% of the population affected. The country also has a high burden of cardiovascular diseases, which are the leading cause of mortality. The healthcare system in Georgia is underfunded and lacks adequate infrastructure, which affects the availability and accessibility of healthcare services, including hypertension diagnosis and treatment.

Underlying macroeconomic factors: Georgia has a growing economy, with a stable political environment and favorable business climate. The healthcare sector is a priority area for the government, which has implemented several reforms to improve the quality and accessibility of healthcare services. However, the country still faces challenges such as high poverty rates, low healthcare spending, and insufficient health insurance coverage, which limit the affordability and accessibility of healthcare services for the population.In conclusion, the Anti-Hypertensive Drugs market in Georgia is expected to continue growing in the coming years, driven by the increasing prevalence of hypertension and the growing aging population. The market is likely to see a shift towards fixed-dose combinations and new drug classes that offer better clinical outcomes. However, the market also faces challenges such as the underfunded healthcare system and the high burden of cardiovascular diseases, which require concerted efforts from the government and healthcare stakeholders to address.

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.