Anti-Hypertensive Drugs - Australia

Australia

In Australia, the revenue of the Anti-Hypertensive Drugs market is anticipated to reach €188.50m by the year 2024.
It is expected that this revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.04%, ultimately leading to a market volume of €188.10m by 2029.
When compared to other countries, United States is projected to generate the highest revenue in this market, amounting to €11,280.00m in 2024.
Australia's growing elderly population is driving the demand for innovative and affordable anti-hypertensive drugs in the pharmaceutical market.

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

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Analyst Opinion

The Anti-Hypertensive Drugs market in Australia has been experiencing steady growth in recent years.

Customer preferences: Patients in Australia are increasingly seeking out medications that are effective, safe and affordable. The preference for these types of medications has resulted in a shift towards generic drugs, which are often cheaper than brand name drugs. Additionally, patients are looking for medications that have minimal side effects and can be taken easily.

Trends in the market: The Anti-Hypertensive Drugs market in Australia has seen a shift towards the use of combination therapies. These therapies combine multiple drugs into a single pill, making it easier for patients to take their medications as prescribed. Additionally, there has been an increase in the use of fixed-dose combination therapies, which combine two or more drugs into a single pill at a fixed dose. This approach has been shown to be more effective in controlling blood pressure than using a single medication.

Local special circumstances: The Australian government has implemented a number of policies aimed at reducing the cost of medications. These policies include the Pharmaceutical Benefits Scheme (PBS), which subsidizes the cost of medications for eligible patients. Additionally, the government has implemented measures to encourage the use of generic drugs, which are often significantly cheaper than brand name drugs.

Underlying macroeconomic factors: The aging population in Australia has contributed to the growth of the Anti-Hypertensive Drugs market. As people age, they are more likely to develop hypertension, which has resulted in an increase in demand for anti-hypertensive medications. Additionally, the increasing prevalence of obesity in Australia has contributed to the growth of the market, as obesity is a risk factor for hypertension.

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.