Lipid-lowering agents, also known as cholesterol-lowering drugs, are used to lower cholesterol levels in the blood. Central Asia, comprising Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, has witnessed significant growth in the lipid-lowering agents market in recent years.
Customer preferences: The rising prevalence of cardiovascular diseases, obesity, and diabetes in Central Asia has increased the demand for lipid-lowering agents. Additionally, the growing awareness among the population about the benefits of early diagnosis and treatment has further boosted the market growth.
Trends in the market: Kazakhstan dominates the lipid-lowering agents market in Central Asia, followed by Uzbekistan and Kyrgyzstan. The market is expected to grow at a steady pace due to the increasing number of patients with high cholesterol levels. The statins segment holds the largest market share due to its effectiveness in reducing cholesterol levels and preventing cardiovascular diseases. However, the demand for non-statin drugs such as PCSK9 inhibitors and bile acid sequestrants is also increasing due to their ability to lower cholesterol levels in patients who are intolerant to statins.
Local special circumstances: Central Asia has a high burden of non-communicable diseases, including cardiovascular diseases, which account for a significant proportion of the overall disease burden. The region has a high prevalence of risk factors such as smoking, unhealthy diet, physical inactivity, and obesity, which contribute to the development of cardiovascular diseases. The lack of awareness about the importance of a healthy lifestyle and the limited availability of healthcare services in some areas are major challenges in the region.
Underlying macroeconomic factors: The increasing healthcare expenditure and the growing number of government initiatives to improve healthcare infrastructure and services in Central Asia are expected to drive the market growth. The rising disposable income and the growing middle-class population are also expected to increase the demand for lipid-lowering agents in the region. However, the high cost of drugs and the lack of reimbursement policies are major challenges in the market. The increasing competition among the market players and the rising focus on research and development activities to develop innovative drugs are expected to create growth opportunities in the market.
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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