Lipid-Lowering Agents - Malaysia

Malaysia

The Lipid-Lowering Agents market in Malaysia is expected to witness a significant increase in revenue, with projections indicating that it will reach US$10.79m in 2024.
Furthermore, it is anticipated to exhibit a robust annual growth rate (CAGR 2024-2028) of 0.62%, leading to a market volume of US$11.06m by 2028.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated value of US$4,427.00m in 2024.
In Malaysia, the demand for lipid-lowering agents has been steadily increasing due to the rising prevalence of cardiovascular diseases in the country.

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

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Analyst Opinion

The Lipid-Lowering Agents market in Malaysia has been experiencing steady growth in recent years.

Customer preferences: Malaysian customers are increasingly concerned about their cardiovascular health, which has led to a growing demand for lipid-lowering agents. This trend is in line with global health concerns and is expected to continue in the coming years.

Trends in the market: The market for lipid-lowering agents in Malaysia is dominated by statins, which are widely prescribed by healthcare professionals. However, there has been a growing interest in alternative therapies such as PCSK9 inhibitors and bile acid sequestrants. This trend is in line with global developments in the lipid-lowering agents market, where new drugs are being developed to address the limitations of existing therapies.

Local special circumstances: The Malaysian government has been promoting healthy living through various initiatives, including the National Strategic Plan for Non-Communicable Disease (NSP-NCD). This plan aims to reduce the burden of non-communicable diseases, including cardiovascular disease, by promoting healthy lifestyles and providing access to healthcare services. These initiatives are expected to drive the demand for lipid-lowering agents in the country.

Underlying macroeconomic factors: The Malaysian economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. This trend is expected to continue, which will further drive the demand for lipid-lowering agents and other healthcare products in the country. Additionally, Malaysia's aging population is expected to drive the demand for lipid-lowering agents, as older adults are more likely to suffer from cardiovascular disease and related conditions.

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.