The market for Lipid-Lowering Agents in the G20 countries has seen significant growth in recent years due to various factors.
Customer preferences: Customers in the G20 countries have become more health-conscious and aware of the risks associated with high cholesterol levels. This has led to an increase in demand for Lipid-Lowering Agents, which are used to lower cholesterol levels and reduce the risk of cardiovascular diseases.
Trends in the market: The Lipid-Lowering Agents market in the G20 countries is witnessing a shift towards generic drugs due to their cost-effectiveness. The availability of cheaper generic versions of popular drugs has led to increased competition in the market, resulting in lower prices for consumers.
Local special circumstances: In China, the government has implemented policies to encourage the use of generic drugs, leading to an increase in the production and consumption of Lipid-Lowering Agents. In India, the market is dominated by local manufacturers, who have an advantage due to lower production costs.
Underlying macroeconomic factors: The aging population in the G20 countries has contributed to the growth of the Lipid-Lowering Agents market as older individuals are more likely to suffer from high cholesterol levels. Additionally, the rising prevalence of obesity and unhealthy lifestyles has led to an increase in the number of people with high cholesterol levels, further driving demand for Lipid-Lowering Agents.In conclusion, the Lipid-Lowering Agents market in the G20 countries is driven by customer preferences for healthier lifestyles and the underlying macroeconomic factors of an aging population and rising obesity rates. The trend towards generic drugs and local manufacturing is also shaping the market in certain countries.
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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