Lipid-Lowering Agents - Argentina

Argentina

Highlights

The Lipid-Lowering Agents market in Argentina is expected to witness a significant increase in revenue, reaching a projected value of US$28.60m by 2024.
It is estimated that the market will experience a steady growth rate of -0.41% annually from 2024 to 2029, resulting in a market volume of US$28.03m by the end of 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue in the Lipid-Lowering Agents market, with a staggering US$4.46bn expected by 2024.
"The demand for lipid-lowering agents in Argentina is steadily increasing due to rising awareness about the importance of cardiovascular health."

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: The demand for Lipid-Lowering Agents in Argentina is driven by a growing awareness of the health risks associated with high cholesterol levels. As a result, consumers are increasingly seeking out products that can help them manage their cholesterol levels and reduce their risk of heart disease.

Trends in the market: One of the key trends in the Lipid-Lowering Agents market in Argentina is the growing popularity of natural and herbal products. Consumers are becoming more interested in natural remedies and are seeking out products that are perceived to be healthier and safer than traditional pharmaceuticals. This trend is reflected in the increasing availability of natural Lipid-Lowering Agents in the market.Another trend in the market is the growing use of combination therapies. Many Lipid-Lowering Agents are now being sold in combination with other drugs, such as blood pressure medications, to provide a more comprehensive approach to managing heart health. This trend is being driven by the increasing prevalence of multiple health conditions among the aging population.

Local special circumstances: One of the unique aspects of the Lipid-Lowering Agents market in Argentina is the high level of government regulation. The Argentine government closely regulates the sale and distribution of pharmaceutical products, including Lipid-Lowering Agents. This has created a complex regulatory environment that can be challenging for foreign companies to navigate.

Underlying macroeconomic factors: The growth of the Lipid-Lowering Agents market in Argentina is being driven by a combination of demographic and economic factors. The country has a large and aging population, which is increasingly concerned about heart health. In addition, the Argentine economy has been growing steadily in recent years, providing consumers with more disposable income to spend on health products. However, the country's economic and political instability could pose a risk to future growth in the market.

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.