The Lipid-Lowering Agents market in G7 countries is experiencing a steady growth due to the increasing prevalence of cardiovascular diseases and the rising adoption of sedentary lifestyles.
Customer preferences: Customers in G7 countries are becoming more health-conscious and are actively seeking out ways to prevent and manage chronic diseases. As a result, there has been a growing demand for Lipid-Lowering Agents, which are medications used to lower cholesterol levels in the blood. Patients are increasingly relying on these drugs as a preventative measure to avoid the risk of heart attacks and strokes.
Trends in the market: The Lipid-Lowering Agents market in G7 countries is expected to grow at a steady pace due to the rising prevalence of cardiovascular diseases. The market is dominated by statins, which are the most commonly prescribed drugs for lowering cholesterol levels. However, there has been a growing trend towards the use of newer, more expensive drugs such as PCSK9 inhibitors, which have been shown to be more effective in lowering cholesterol levels. The market is also seeing an increase in the use of combination therapies, where two or more drugs are used together to achieve better results.
Local special circumstances: The Lipid-Lowering Agents market in G7 countries is heavily regulated, with strict guidelines governing the approval and use of these drugs. This has resulted in a slower uptake of newer drugs, as they are subject to more rigorous testing and evaluation. Additionally, the cost of these drugs is a major concern, as they are often expensive and not covered by insurance in some countries.
Underlying macroeconomic factors: The Lipid-Lowering Agents market in G7 countries is influenced by various macroeconomic factors such as population growth, ageing, and changing lifestyles. The ageing population is a major driver of the market, as older individuals are more prone to cardiovascular diseases and are more likely to require medication to manage their cholesterol levels. Additionally, changing lifestyles, such as increased consumption of processed foods and sedentary behaviour, have contributed to the rising prevalence of cardiovascular diseases, leading to an increase in demand for 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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