Lipid-Lowering Agents - Baltics | Statista Market Forecast

The projected revenue for the Lipid-Lowering Agents market in the Baltics is expected to reach US$5.51m in 2024.
This market is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.32%, leading to a market volume of US$5.60m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue of US$4.46bn in 2024.
In the Baltics, the demand for lipid-lowering agents is steadily increasing due to rising awareness about cardiovascular health and the aging population.

Definition:
The Lipid-Lowering Agents market covers drugs to treat hyperlipidemia or dyslipidemia. These metabolic disorders are characterized by high levels of lipids, such as fats, cholesterol, or triglycerides, or lipoproteins in the blood. Different drug classes are included: statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, as well as combinations thereof.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Merck & Co., AstraZeneca, Viatris

Anti-hyperlipidemics
Drugs to treat high levels of lipids in the blood
Cholesterol-lowering drugs

Anti-diabetes drugs
Drugs to treat other metabolic disorders
Dietary supplements

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

Customer preferences: The increasing awareness among the population about the importance of maintaining healthy cholesterol levels has led to a surge in demand for lipid-lowering agents. Additionally, the aging population in the region has also contributed to the rise in demand for these drugs.

Trends in the market: One of the major trends in the market is the shift towards generic drugs. The availability of generic drugs has made it more affordable for patients to purchase these medications, leading to an increase in sales. Another trend in the market is the increasing use of combination therapies. This approach has been found to be more effective in lowering cholesterol levels in patients.

Local special circumstances: The healthcare system in the Baltics is highly decentralized, with each country having its own healthcare system. This has led to differences in pricing and reimbursement policies, which can impact the availability and affordability of these drugs. Additionally, the region has a high prevalence of cardiovascular diseases, which has led to an increased focus on preventive care.

Underlying macroeconomic factors: The Baltics have seen steady economic growth in recent years, which has led to an increase in disposable income. This, in turn, has led to an increase in healthcare spending, including spending on lipid-lowering agents. Additionally, the region has a high burden of cardiovascular diseases, which has led to increased investment in healthcare infrastructure and research.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.