Lipid-Lowering Agents - Belgium

Belgium

Highlights

The Lipid-Lowering Agents market in Belgium is projected to see a significant increase in revenue, reaching US$31.98m in 2024.
This is expected to be accompanied by a steady annual growth rate of -0.52% between 2024 and 2029.
As a result, the market volume is forecasted to reach US$31.15m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Lipid-Lowering Agents market, with a staggering US$4.46bn in 2024.
In Belgium, the market for Lipid-Lowering Agents is experiencing a growing demand due to an increasing awareness of cardiovascular health among the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The market for Lipid-Lowering Agents in Belgium has been experiencing steady growth in recent years.

Customer preferences: Belgian consumers are becoming increasingly health-conscious and are looking for ways to manage their cholesterol levels. This has led to a growing demand for Lipid-Lowering Agents in the country. Additionally, the aging population in Belgium has also contributed to the growth of the market, as older individuals are more likely to require medication to manage their cholesterol levels.

Trends in the market: One of the key trends in the Lipid-Lowering Agents market in Belgium is the growing popularity of generic drugs. This is due to the fact that the Belgian government has implemented policies to encourage the use of generic drugs in order to reduce healthcare costs. As a result, many consumers are opting for lower-cost generic versions of Lipid-Lowering Agents rather than brand-name drugs.Another trend in the market is the increasing use of combination drugs. Combination drugs are medications that contain more than one active ingredient and are designed to treat multiple conditions simultaneously. In the case of Lipid-Lowering Agents, combination drugs may include a statin and another type of cholesterol-lowering medication. These drugs are becoming more popular in Belgium as they can offer more effective treatment for individuals with high cholesterol levels.

Local special circumstances: One of the unique aspects of the Lipid-Lowering Agents market in Belgium is the role of pharmacists. In Belgium, pharmacists are able to prescribe certain medications, including Lipid-Lowering Agents, without a prescription from a doctor. This has led to a greater level of accessibility for consumers, as they are able to obtain the medication they need more easily.

Underlying macroeconomic factors: The growth of the Lipid-Lowering Agents market in Belgium can be attributed to a number of underlying macroeconomic factors. One of the key factors is the aging population, which is driving demand for medications to manage chronic conditions such as high cholesterol. Additionally, the Belgian government's policies to encourage the use of generic drugs have also contributed to the growth of the market by making Lipid-Lowering Agents more affordable for consumers. Finally, the increasing prevalence of lifestyle diseases such as obesity and diabetes is also driving demand for Lipid-Lowering Agents in Belgium.

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.