Lipid-Lowering Agents - Chile | Statista Market Forecast

In Chile, the revenue in the Lipid-Lowering Agents market is expected to reach US$14.11m by the year 2024.
This market is projected to exhibit an annual growth rate of -0.09% between 2024 and 2029, leading to a market volume of US$14.05m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, with an estimated value of US$4.46bn in 2024.
In Chile, the demand for lipid-lowering agents is on the rise due to an increasing awareness of cardiovascular health.

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 Chile has been on the rise in recent years.

Customer preferences: Chile has a high prevalence of cardiovascular diseases, and the population is becoming increasingly aware of the benefits of managing their cholesterol levels. As a result, there has been a growing demand for lipid-lowering agents in the country. Patients are also seeking more effective and convenient treatment options, which has led to an increase in the use of combination therapies.

Trends in the market: The market for lipid-lowering agents in Chile is expected to continue growing in the coming years. The introduction of new drugs and combination therapies is driving this growth. Additionally, there is a growing trend towards personalized medicine, and patients are increasingly demanding treatments that are tailored to their individual needs. This has led to the development of new drugs that target specific types of cholesterol.

Local special circumstances: One of the unique factors influencing the market for lipid-lowering agents in Chile is the country's healthcare system. The public healthcare system in Chile is highly centralized, and the government regulates drug prices. This has led to lower drug prices compared to other countries in the region, making treatment more affordable for patients. However, this also means that drug manufacturers have to navigate a complex regulatory environment to enter the market.

Underlying macroeconomic factors: Chile has one of the strongest economies in South America, with a growing middle class and a high level of urbanization. This has led to an increase in healthcare spending and a growing demand for high-quality healthcare services. Additionally, the country has a rapidly aging population, which is driving demand for healthcare services. These underlying macroeconomic factors are expected to continue driving growth in the market for lipid-lowering agents in Chile.

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.