Lipid-Lowering Agents - China

China

In China, the revenue in the Lipid-Lowering Agents market is forecasted to reach US$0.86bn by 2024.
It is anticipated that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 0.69%, leading to a market volume of US$0.89bn by 2029.
When compared globally, United States is expected to generate the highest revenue of US$4,461.00m in 2024.
China's growing middle class and increasing health consciousness are driving the demand for lipid-lowering agents in the country.

Key regions: Europe, Brazil, France, Australia, Germany

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Currency

Analyst Opinion

The Lipid-Lowering Agents market in China has been experiencing significant growth in recent years.

Customer preferences: The growing awareness of the importance of maintaining healthy cholesterol levels has led to an increase in demand for lipid-lowering agents in China. Additionally, the aging population and the rise in lifestyle diseases have also contributed to the growth of the market.

Trends in the market: The market for lipid-lowering agents in China is dominated by statins, which are widely prescribed by healthcare professionals. However, there has been a growing trend towards the use of non-statin therapies, such as PCSK9 inhibitors and ezetimibe. This trend is driven by the increasing number of patients who are unable to tolerate statins due to side effects.

Local special circumstances: The Chinese government has been promoting the use of generic drugs in an effort to reduce healthcare costs. This has led to the emergence of local manufacturers who are producing generic versions of lipid-lowering agents, which are more affordable than branded drugs. Additionally, the Chinese government has been investing in the development of traditional Chinese medicine as an alternative therapy for lipid-lowering.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in China is expected to continue to grow due to the increasing prevalence of lifestyle diseases such as obesity and diabetes. Additionally, the Chinese government's efforts to improve the quality of healthcare and increase access to medical services are expected to drive demand for lipid-lowering agents. However, the market is also facing challenges such as the high cost of drugs and the increasing competition from local manufacturers.

Methodology

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.