Lipid-Lowering Agents - Europe

Europe

Highlights

In Europe, the market of Lipid-Lowering Agents market is anticipated to witness substantial growth in the coming years.
By 2024, the projected revenue is estimated to reach US$1.37bn.
This growth is expected to continue with a compound annual growth rate (CAGR 2024-2029) of -0.12%, leading to a market volume of US$1.37bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Lipid-Lowering Agents market.
In 2024, the revenue United States is projected to be US$4.46bn.
In Germany, there is a growing demand for lipid-lowering agents due to the increasing prevalence of cardiovascular diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in Europe has been on a steady rise in recent years.

Customer preferences: One of the main factors driving this trend is the increasing awareness among consumers regarding the importance of maintaining healthy cholesterol levels. As a result, there has been a growing demand for Lipid-Lowering Agents, which are medications that help reduce cholesterol levels in the blood. Additionally, the aging population in Europe has contributed to the rising demand for these drugs as older individuals are more likely to develop high cholesterol levels.

Trends in the market: The market for Lipid-Lowering Agents in Europe is highly competitive, with several multinational pharmaceutical companies competing for market share. One of the key trends in the market is the increasing popularity of generic drugs. Generic drugs are cheaper alternatives to branded drugs and are becoming more widely accepted by consumers due to their affordability. This has led to a decline in the market share of branded drugs and an increase in the market share of generic drugs.

Local special circumstances: In some countries in Europe, there are strict regulations regarding the pricing of pharmaceutical drugs. This has led to a situation where the cost of Lipid-Lowering Agents is significantly lower in some countries compared to others. For example, in countries such as Spain and Italy, the cost of these drugs is relatively low due to government regulations. This has made these drugs more accessible to consumers in these countries.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in Europe is also influenced by macroeconomic factors such as GDP growth, healthcare spending, and government healthcare policies. In countries with higher GDP growth and healthcare spending, there is generally a higher demand for Lipid-Lowering Agents. Additionally, government policies such as subsidies for healthcare spending can also have an impact on the demand for these drugs.In conclusion, the Lipid-Lowering Agents market in Europe is driven by factors such as increasing awareness among consumers, aging population, and competition among pharmaceutical companies. The market is also influenced by local special circumstances such as government regulations and macroeconomic factors such as GDP growth and healthcare spending.

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.