The Lipid-Lowering Agents market in Ethiopia has seen significant development in recent years.
Customer preferences: Ethiopian customers have shown an increasing interest in Lipid-Lowering Agents due to the rise in cardiovascular diseases in the country. As a result, there has been a growing demand for these drugs, which has led to an increase in the number of pharmaceutical companies that produce them.
Trends in the market: The Ethiopian Lipid-Lowering Agents market has seen a trend towards the use of generic drugs due to their affordability. The government has also played a role in promoting the use of generic drugs to reduce healthcare costs. As a result, there has been a rise in the number of generic Lipid-Lowering Agents available in the market. Additionally, there has been a trend towards the use of combination therapies that target different aspects of lipid metabolism.
Local special circumstances: One of the local special circumstances that affect the Lipid-Lowering Agents market in Ethiopia is the lack of access to healthcare facilities in rural areas. This has led to a concentration of healthcare facilities in urban areas, which has limited access to Lipid-Lowering Agents for people living in rural areas. Another special circumstance is the lack of awareness about cardiovascular diseases and their risk factors, which has led to a delay in diagnosis and treatment.
Underlying macroeconomic factors: The Ethiopian economy has been growing steadily in recent years, which has led to an increase in disposable income. This has resulted in an increase in the demand for healthcare services, including Lipid-Lowering Agents. Additionally, the government has been investing in the healthcare sector, which has led to an improvement in the availability of healthcare services and an increase in the number of healthcare facilities. However, the healthcare sector still faces challenges such as a shortage of healthcare professionals, which has limited the availability of Lipid-Lowering Agents.
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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