Lipid-Lowering Agents - Australia

Australia

Highlights

In Australia, the revenue in the Lipid-Lowering Agents market is estimated to reach US$77.36m in 2024.
It is expected that the revenue will experience a compound annual growth rate (CAGR 2024-2029) of 0.22%, leading to a market volume of US$78.19m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, with US$4.46bn in 2024.
Australia's growing concern for cardiovascular health has resulted in a surge in demand for lipid-lowering agents.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in Australia has been on the rise in recent years.

Customer preferences: The Australian population is becoming increasingly health-conscious, and many are turning to medication to manage their cholesterol levels. Additionally, the aging population in Australia is also driving demand for Lipid-Lowering Agents, as cholesterol levels tend to increase with age.

Trends in the market: One trend in the Australian Lipid-Lowering Agents market is a shift towards more natural and plant-based products. Many consumers are looking for alternatives to traditional medication, and natural supplements such as omega-3 fatty acids and plant sterols are becoming more popular. Another trend is the increasing use of combination therapies, where multiple medications are used together to achieve better results.

Local special circumstances: The Australian government has implemented a number of initiatives to promote healthy lifestyles and reduce the incidence of chronic diseases such as heart disease. These initiatives include public education campaigns, subsidies for healthy foods, and funding for research into new treatments for chronic diseases. Additionally, the Australian healthcare system provides universal access to medication, which has helped to increase demand for Lipid-Lowering Agents.

Underlying macroeconomic factors: Australia has a relatively high incidence of heart disease compared to other developed countries, which has helped to drive demand for Lipid-Lowering Agents. Additionally, the Australian economy has been relatively stable in recent years, which has allowed consumers to continue to purchase medications despite rising costs. Finally, the Australian pharmaceutical industry is relatively well-developed, which has helped to ensure a steady supply of Lipid-Lowering Agents to meet growing demand.

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.