Lipid-Lowering Agents - Gambia | Statista Market Forecast

The revenue generated in the Lipid-Lowering Agents market in Gambia is projected to reach US$39.10k in 2024.
It is expected to grow at an annual growth rate of 0.05% from 2024 to 2029, resulting in a market volume of US$39.20k by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated revenue of US$4.46bn in 2024.
In Gambia, there is a growing demand for lipid-lowering agents due to an increasing prevalence of cardiovascular diseases.

Definition:
The Lipid-Lowering Agents market covers drugs to treat hyperlipidemia or dyslipidemia. These metabolic disorders are characterized by high levels of lipids, such as fats, cholesterol, or triglycerides, or lipoproteins in the blood. Different drug classes are included: statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, as well as combinations thereof.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Merck & Co., AstraZeneca, Viatris

Anti-hyperlipidemics
Drugs to treat high levels of lipids in the blood
Cholesterol-lowering drugs

Anti-diabetes drugs
Drugs to treat other metabolic disorders
Dietary supplements

The demand for Lipid-Lowering Agents in Gambia has been steadily increasing in recent years.

Customer preferences: Patients in Gambia are becoming increasingly aware of the importance of managing their cholesterol levels. This is partly due to the growing prevalence of non-communicable diseases such as cardiovascular disease and diabetes, which are often linked to high cholesterol levels. As a result, there is a growing demand for Lipid-Lowering Agents in the country.

Trends in the market: The Lipid-Lowering Agents market in Gambia is expected to continue growing in the coming years. This is due to a number of factors, including an aging population and increasing rates of non-communicable diseases. Additionally, there has been a growing trend towards preventative healthcare in the country, with many people seeking to manage their health proactively rather than waiting until they become ill.

Local special circumstances: One of the key challenges facing the Lipid-Lowering Agents market in Gambia is the limited availability of healthcare resources in the country. This can make it difficult for patients to access the medication they need, particularly in rural areas. Additionally, there is a lack of awareness about the importance of managing cholesterol levels, which can make it difficult to convince patients to take Lipid-Lowering Agents.

Underlying macroeconomic factors: Gambia is one of the poorest countries in Africa, with a GDP per capita of just $600. This means that many people in the country struggle to afford healthcare, including Lipid-Lowering Agents. However, the government has made efforts to improve access to healthcare in recent years, including the introduction of a national health insurance scheme. This could help to increase demand for Lipid-Lowering Agents in the country, as more people are able to access healthcare services.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.