Armenia, a country located in the South Caucasus region of Eurasia, has been experiencing a steady growth in the Lipid-Lowering Agents market in recent years.
Customer preferences: The Armenian population has been increasingly concerned about their health and well-being, leading to a growing demand for lipid-lowering agents. This trend is in line with the global shift towards preventive healthcare, where individuals are taking proactive measures to maintain their health and prevent chronic diseases.
Trends in the market: The market for lipid-lowering agents in Armenia has been expanding due to the rising prevalence of cardiovascular diseases (CVDs) in the country. According to the World Health Organization, CVDs are the leading cause of death in Armenia, accounting for more than half of all deaths. As a result, healthcare providers have been prescribing lipid-lowering agents to manage cholesterol levels and reduce the risk of CVDs.
Local special circumstances: Armenia has a universal healthcare system, which provides free medical services to all citizens. This has led to a high demand for lipid-lowering agents, as they are readily available and accessible to the population. Additionally, the country has a high burden of non-communicable diseases, such as diabetes and hypertension, which are risk factors for CVDs. This has further contributed to the growing demand for lipid-lowering agents.
Underlying macroeconomic factors: Armenia has been experiencing economic growth in recent years, which has led to an increase in disposable income and healthcare spending. This has enabled individuals to afford lipid-lowering agents, which are often expensive. Furthermore, the government has been investing in the healthcare sector, which has led to an improvement in healthcare infrastructure and services. This has facilitated the distribution and availability of lipid-lowering agents in the country.In conclusion, the Lipid-Lowering Agents market in Armenia has been growing steadily due to the rising prevalence of CVDs, high demand for preventive healthcare, universal healthcare system, and economic growth. These factors have contributed to an increase in the availability and accessibility of lipid-lowering agents in the country.
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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