Anti-Hypertensive Drugs - Latvia

Latvia

The Anti-Hypertensive Drugs market in Latvia is expected to witness a significant growth in revenue, reaching US$5.95m in 2024.
Furthermore, it is projected to experience a steady annual growth rate (CAGR 2024-2028) of 0.54%, leading to a market volume of US$6.08m by 2028.
When compared globally, United States is anticipated to generate the highest revenue in this sector, amounting to US$12,290.00m in 2024.
In Latvia, the demand for anti-hypertensive drugs is steadily increasing due to the rising prevalence of hypertension among the population.

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

Market

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Analyst Opinion

The demand for Anti-Hypertensive Drugs in Latvia has been increasing over the years.

Customer preferences: Customers in Latvia prefer Anti-Hypertensive Drugs that have fewer side effects and are affordable. They also prefer drugs that are easy to access and have a proven track record of effectiveness.

Trends in the market: The Anti-Hypertensive Drugs market in Latvia is expected to grow due to the increasing prevalence of hypertension in the country. The market is also expected to grow due to the increasing elderly population in Latvia. The elderly population is more likely to suffer from hypertension, which will increase the demand for Anti-Hypertensive Drugs.

Local special circumstances: Latvia has a universal healthcare system, which means that Anti-Hypertensive Drugs are available to all citizens. The government is also taking steps to increase awareness about hypertension and its risks. This will help to increase the demand for Anti-Hypertensive Drugs in the country.

Underlying macroeconomic factors: The Latvian economy has been growing steadily over the years, which has led to an increase in disposable income. This has made Anti-Hypertensive Drugs more affordable for the average citizen. The government has also been investing in healthcare infrastructure, which has improved access to healthcare services, including Anti-Hypertensive Drugs.

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.