The demand for Lipid-Lowering Agents in Bhutan has seen a steady rise in recent years.
Customer preferences: This increase in demand can be attributed to the growing awareness among the population about the importance of maintaining healthy cholesterol levels. Bhutanese consumers are increasingly looking for lipid-lowering agents that are effective, affordable, and have minimal side effects.
Trends in the market: One of the key trends in the Lipid-Lowering Agents market in Bhutan is the growing popularity of herbal and natural remedies. Many consumers in Bhutan prefer traditional medicine and are increasingly turning towards herbal supplements to manage their cholesterol levels. This trend is also reflected in the increasing number of Ayurvedic and natural lipid-lowering agents available in the market.Another trend in the market is the increasing availability of generic drugs. With the rising cost of healthcare in Bhutan, many consumers are looking for more affordable options. The availability of generic drugs has made lipid-lowering agents more accessible to a wider population.
Local special circumstances: Bhutan is a small country with a population of just over 700,000 people. The healthcare system in Bhutan is still developing, and there is a shortage of healthcare professionals in the country. This has led to a growing demand for self-care products like lipid-lowering agents.
Underlying macroeconomic factors: Bhutan is a developing country with a growing economy. The government has been investing heavily in healthcare infrastructure and has made significant progress in improving access to healthcare. This has led to an increase in demand for healthcare products and services, including lipid-lowering agents.In conclusion, the Lipid-Lowering Agents market in Bhutan is driven by the growing awareness among consumers about the importance of maintaining healthy cholesterol levels. The market is characterized by the increasing popularity of herbal and natural remedies, the availability of generic drugs, and the growing demand for self-care products. The underlying macroeconomic factors, including the growing economy and the government's investment in healthcare infrastructure, are expected to continue driving the growth of the market in the coming years.
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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