The demand for Lipid-Lowering Agents in ASEAN has been on the rise in recent years, driven by various factors such as changing lifestyles, increasing prevalence of chronic diseases, and growing awareness about the importance of managing cholesterol levels.
Customer preferences: Customers in ASEAN are increasingly seeking out Lipid-Lowering Agents that are effective, affordable, and safe to use. They are also looking for products that are easy to access and convenient to use, such as those that are available over-the-counter or through online platforms. Additionally, there is a growing demand for natural and herbal remedies that can help manage cholesterol levels without the potential side effects of traditional pharmaceuticals.
Trends in the market: In Indonesia, Lipid-Lowering Agents are among the top 10 most commonly prescribed drugs, with statins being the most popular. The market is dominated by multinational pharmaceutical companies, although there is also a growing presence of local players. In Thailand, the market for Lipid-Lowering Agents is expected to grow steadily in the coming years, driven by an aging population and increasing incidence of cardiovascular diseases. Meanwhile, in the Philippines, there is a growing trend towards self-medication and preventive healthcare, leading to increased demand for over-the-counter Lipid-Lowering Agents.
Local special circumstances: One of the key challenges facing the Lipid-Lowering Agents market in ASEAN is the lack of awareness and education about the importance of managing cholesterol levels. This is particularly true in rural areas, where access to healthcare and information is limited. Additionally, there are regulatory and pricing challenges that can make it difficult for companies to enter and compete in the market.
Underlying macroeconomic factors: The Lipid-Lowering Agents market in ASEAN is influenced by a range of macroeconomic factors, including rising healthcare expenditure, increasing disposable income, and growing urbanization. These factors are driving demand for Lipid-Lowering Agents as more people adopt sedentary lifestyles and unhealthy diets. Additionally, the increasing prevalence of chronic diseases such as diabetes and hypertension is leading to a greater need for cholesterol management. Overall, the Lipid-Lowering Agents market in ASEAN is poised for steady growth in the coming years, driven by both local and global trends.
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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