Lipid-Lowering Agents - Worldwide

Worldwide

The Lipid-Lowering Agents market worldwide is expected to witness a revenue downturns in the coming years.
According to projections, the market's revenue is estimated to reach US$8.05bn by 2024.
Furthermore, it is anticipated that the market will experience a compound annual growth rate (CAGR 2024-2028) of -0.16%, resulting in a market volume of US$8.00bn by 2028.
When compared globally, United States is expected to generate the highest revenue in the Lipid-Lowering Agents market.
It is projected that United States will generate US$4,427.00m in revenue by 2024.
This highlights the dominant position of the United States in this market.
Despite the worldwide market for lipid-lowering agents being highly competitive, the demand in the United States remains consistently high due to the prevalence of cardiovascular diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Lipid-Lowering Agents is increasing globally due to the rise in health awareness and the prevalence of cardiovascular diseases.

Customer preferences: Customers are becoming more health-conscious and are taking preventive measures to avoid cardiovascular diseases. The elderly population is also growing, and they are more susceptible to heart diseases. Additionally, the increasing prevalence of obesity and diabetes is driving the demand for lipid-lowering agents.

Trends in the market: In the United States, the market for lipid-lowering agents is growing due to the high prevalence of heart diseases and high cholesterol levels among the population. The introduction of new drugs and the availability of generic drugs are also driving the market. In Europe, the market is growing due to the increasing awareness of cardiovascular diseases and the presence of a large geriatric population. In the Asia Pacific, the market is growing due to the increasing prevalence of heart diseases and the growing demand for preventive healthcare.

Local special circumstances: In the United States, the market is highly regulated, and the approval process for new drugs is lengthy and expensive. The availability of generic drugs is also high, which is driving the market. In Europe, the market is driven by the increasing awareness of cardiovascular diseases, and the government is taking measures to reduce the prevalence of heart diseases. In the Asia Pacific, the market is growing due to the increasing prevalence of heart diseases and the growing demand for preventive healthcare.

Underlying macroeconomic factors: The rise in health awareness and the increasing prevalence of heart diseases are the main macroeconomic factors driving the market. The growing geriatric population and the increasing prevalence of obesity and diabetes are also driving the market. The availability of generic drugs and the introduction of new drugs are also driving the market. The increasing demand for preventive healthcare is also driving the market.

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.