Lipid-Lowering Agents - Algeria

Algeria

In Algeria, the revenue in the Lipid-Lowering Agents market is estimated to reach US$7.17m in 2024.
It is anticipated that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of -0.85%, leading to a market volume of US$6.87m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$4,461.00m in 2024.
Algeria's market for lipid-lowering agents is witnessing a surge in demand due to increasing awareness about cardiovascular health.

Key regions: Europe, Brazil, France, Australia, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Algerian customers have shown an increasing interest in Lipid-Lowering Agents due to the high prevalence of cardiovascular diseases in the country. Additionally, the aging population has also contributed to the growth of the market as older individuals are more likely to require such medications.

Trends in the market: The market for Lipid-Lowering Agents in Algeria is expected to continue its growth trajectory due to the increasing prevalence of cardiovascular diseases and the growing aging population. The market is also expected to benefit from the increasing availability of generic drugs, which are more affordable than their brand-name counterparts.

Local special circumstances: Algeria has a universal healthcare system that covers the majority of its population. However, the system has faced challenges in recent years due to budget constraints and a shortage of healthcare professionals. These challenges have led to delays in the reimbursement of medications, which can impact the demand for Lipid-Lowering Agents.

Underlying macroeconomic factors: The Algerian economy has been heavily reliant on the oil and gas sector, which has faced challenges in recent years due to fluctuations in global oil prices. This has led to a decline in government revenues and a reduction in public spending, including healthcare spending. However, the government has recently announced plans to diversify the economy and reduce its reliance on the oil and gas sector, which could lead to increased healthcare spending in the future.

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.