Lipid-Lowering Agents - Canada

Canada

In Canada, the revenue in the Lipid-Lowering Agents market is projected to reach US$130.20m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2028) of 0.04%, resulting in a market volume of US$130.40m by 2028.
In comparison to other countries, United States is anticipated to generate the highest revenue in the Lipid-Lowering Agents market, with US$4,427.00m in 2024.
Canada's growing aging population is driving the demand for lipid-lowering agents, making it a lucrative market for pharmaceutical companies.

Key regions: Italy, Japan, France, Brazil, Australia

Market

Region

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Currency

Analyst Opinion

The demand for Lipid-Lowering Agents in Canada has been on the rise in recent years.

Customer preferences: Customers in Canada are becoming more health-conscious and are taking proactive measures to manage their cholesterol levels. This has led to an increase in demand for Lipid-Lowering Agents as they are an effective way to manage cholesterol levels.

Trends in the market: The Lipid-Lowering Agents market in Canada is expected to grow steadily in the coming years. This growth can be attributed to the increasing prevalence of lifestyle diseases such as obesity, diabetes, and hypertension. Additionally, there has been a rise in the geriatric population in Canada, which has led to an increase in the demand for Lipid-Lowering Agents.

Local special circumstances: Canada has a universal healthcare system, which means that the government plays a significant role in the pricing and reimbursement of drugs. This has led to a highly regulated pharmaceutical market, which can make it difficult for new entrants to penetrate the market. However, the Canadian government has been taking steps to increase competition in the market, which could lead to lower drug prices and increased access to Lipid-Lowering Agents for Canadians.

Underlying macroeconomic factors: The Canadian economy has been performing well in recent years, with low unemployment rates and a stable GDP growth rate. This has led to an increase in disposable income, which has translated into higher healthcare spending. Additionally, the Canadian population is aging, which has led to an increase in healthcare spending on chronic diseases such as cardiovascular disease. These underlying macroeconomic factors are likely to contribute to the growth of the Lipid-Lowering Agents market in Canada in the coming years.

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.