The demand for Lipid-Lowering Agents in Brunei Darussalam is on the rise, driven by various factors that are shaping the market.
Customer preferences: Brunei Darussalam has a growing elderly population, which is susceptible to various chronic diseases such as cardiovascular diseases. This has led to an increasing demand for Lipid-Lowering Agents, which are used to treat high cholesterol levels. Additionally, the growing health consciousness among the younger population is also driving the demand for these drugs.
Trends in the market: The Lipid-Lowering Agents market in Brunei Darussalam is witnessing a shift towards generic drugs. This is due to the government's efforts to reduce healthcare costs by promoting the use of generic drugs. The generic drugs are cheaper than branded drugs and offer the same therapeutic effect. This has led to an increase in the number of generic drug manufacturers in the country.
Local special circumstances: Brunei Darussalam has a small population, and the healthcare system is heavily subsidized by the government. This has led to a limited number of private healthcare providers in the country. The government provides free healthcare services to its citizens, which includes the provision of Lipid-Lowering Agents. This has led to a limited market for private healthcare providers in the country.
Underlying macroeconomic factors: Brunei Darussalam has a stable economy, which is heavily reliant on its oil and gas industry. The government has been investing heavily in the healthcare sector, which has led to the development of modern healthcare infrastructure in the country. This has led to an increase in the availability of Lipid-Lowering Agents in the country. Additionally, the government's efforts to promote the use of generic drugs have led to a reduction in healthcare costs, which has made these drugs more affordable for the population.
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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