The demand for Lipid-Lowering Agents in Asia has been on the rise in recent years.
Customer preferences: Asian consumers are becoming increasingly health-conscious, leading to a growing demand for products that improve their overall health and wellbeing. Lipid-lowering agents, which help to reduce cholesterol levels in the blood, are among the most sought-after products in this category. Additionally, the increasing prevalence of lifestyle diseases such as obesity and diabetes has also contributed to the rising demand for these products.
Trends in the market: Japan is one of the largest markets for lipid-lowering agents in Asia, driven by the high incidence of cardiovascular diseases in the country. The market in China is also growing rapidly due to the increasing adoption of a Western diet and sedentary lifestyle. In India, where the prevalence of lifestyle diseases is also on the rise, the market for lipid-lowering agents is expected to grow significantly in the coming years.
Local special circumstances: In Japan, the government has implemented various initiatives to promote the use of lipid-lowering agents, such as providing subsidies for patients who require long-term treatment. In China, the market is dominated by domestic players due to strict regulations on foreign drug imports. In India, the market is highly fragmented, with a large number of local players competing for market share.
Underlying macroeconomic factors: The growing middle class in Asia has increased purchasing power and is willing to spend more on healthcare products. Additionally, the aging population in countries such as Japan and China has also contributed to the growth of the lipid-lowering agents market, as these individuals are more prone to cardiovascular diseases. The increasing prevalence of lifestyle diseases in the region, which is linked to rapid urbanization and changing dietary habits, has also been a key driver of market growth.
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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