Lipid-Lowering Agents - Georgia

Georgia

The Lipid-Lowering Agents market in Georgia is expected to see a projected revenue of US$0.91m in 2024.
Looking ahead, the market is anticipated to experience an annual growth rate (CAGR 2024-2028) of 0.27%, leading to a market volume of US$0.92m by 2028.
When compared to other countries, United States is projected to generate the highest revenue, with an estimated US$4,427.00m in 2024.
In Georgia, there is an increasing demand for lipid-lowering agents as the population becomes more health-conscious and aware of the risks of cardiovascular disease.

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

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Analyst Opinion

The demand for Lipid-Lowering Agents in Georgia has been steadily increasing in recent years.

Customer preferences: Patients in Georgia are increasingly becoming aware of the importance of managing their cholesterol levels to prevent cardiovascular disease. This has led to a growing demand for Lipid-Lowering Agents, which are used to reduce cholesterol levels in the blood.

Trends in the market: The Lipid-Lowering Agents market in Georgia has been growing at a steady pace due to the increasing prevalence of cardiovascular disease in the country. The market is dominated by statins, which are the most commonly prescribed Lipid-Lowering Agents. However, there has been a growing demand for other types of Lipid-Lowering Agents such as PCSK9 inhibitors and bile acid sequestrants.

Local special circumstances: One of the factors that has contributed to the growth of the Lipid-Lowering Agents market in Georgia is the high prevalence of cardiovascular disease in the country. According to the World Health Organization, cardiovascular disease is one of the leading causes of death in Georgia. This has led to increased awareness among patients and healthcare professionals about the importance of managing cholesterol levels to prevent cardiovascular disease.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in Georgia is also influenced by macroeconomic factors such as the country's healthcare system and regulatory environment. Georgia has a universal healthcare system, which provides free healthcare to all citizens and is funded by the government. This has led to increased access to healthcare services, including Lipid-Lowering Agents, for the population. Additionally, Georgia has a favorable regulatory environment for pharmaceutical companies, which has encouraged investment in the country's healthcare sector.

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.