The demand for Lipid-Lowering Agents in Angola has been steadily increasing in recent years.
Customer preferences: Angolan customers are becoming more health-conscious and are seeking ways to prevent and manage chronic diseases such as cardiovascular diseases. Lipid-Lowering Agents are popular among individuals with high cholesterol levels and those who are at risk of developing heart diseases. Furthermore, the increasing prevalence of obesity in Angola has resulted in a higher demand for Lipid-Lowering Agents.
Trends in the market: The Lipid-Lowering Agents market in Angola is expected to grow due to several factors. Firstly, the government is taking steps to improve the healthcare system in the country, which includes increasing access to medicines. Secondly, there is a growing middle class in Angola, which has more disposable income to spend on healthcare. This demographic is more likely to seek preventative measures to maintain their health. Finally, there is an increase in the number of pharmacies and healthcare facilities in the country, which makes it easier for individuals to access Lipid-Lowering Agents.
Local special circumstances: Despite the growing demand for Lipid-Lowering Agents, there are some challenges that the market faces in Angola. One of the major challenges is the lack of awareness and education about the importance of managing cholesterol levels. Many individuals are not aware of the risks associated with high cholesterol levels and do not seek medical attention until they are already experiencing symptoms. Additionally, there is a lack of regulation in the pharmaceutical industry, which can lead to counterfeit drugs entering the market.
Underlying macroeconomic factors: The Angolan economy has been recovering from a recession in recent years, which has resulted in an increase in consumer spending. The government is also investing in infrastructure and healthcare, which is expected to further boost the economy. These factors are likely to contribute to the growth of the Lipid-Lowering Agents market in Angola.In conclusion, the Lipid-Lowering Agents market in Angola is expected to grow in the coming years due to increasing customer demand, government initiatives to improve healthcare, and a growing economy. However, challenges such as lack of awareness and counterfeit drugs need to be addressed to ensure the market can reach its full potential.
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.
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