Lipid-Lowering Agents - GCC

  • GCC
  • The Lipid-Lowering Agents market in GCC is expected to witness significant growth in the coming years.
  • By 2024, the projected revenue for this market is estimated to reach US$67.94m.
  • Moreover, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 0.08%.
  • This growth trajectory is expected to result in a market volume of approximately US$68.22m by 2029.
  • When compared to other countries globally, United States is forecasted to generate the highest revenue in the Lipid-Lowering Agents market.
  • In 2024, United States is projected to generate approximately US$4,461.00m in revenue.
  • In the GCC, there is a growing demand for lipid-lowering agents as the region grapples with a rise in lifestyle-related diseases such as obesity and diabetes.

Key regions: Europe, Brazil, France, Australia, Germany

 
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Analyst Opinion

The demand for Lipid-Lowering Agents in the GCC region has been steadily increasing over the years.

Customer preferences:
The GCC region has a high prevalence of obesity and lifestyle diseases, leading to a rise in the number of patients with high cholesterol levels. This has resulted in an increased demand for Lipid-Lowering Agents, as patients are becoming more aware of the benefits of managing their lipid levels.

Trends in the market:
The market for Lipid-Lowering Agents in the GCC region is dominated by statins, with atorvastatin being the most commonly prescribed drug. However, there has been a recent trend towards prescribing newer drugs such as PCSK9 inhibitors and ezetimibe, which have shown to be more effective in managing lipid levels in certain patient populations. This trend is expected to continue in the coming years as more clinical data becomes available.

Local special circumstances:
One of the unique challenges in the GCC region is the high prevalence of consanguineous marriages, which can lead to a higher incidence of genetic lipid disorders such as familial hypercholesterolemia. This has resulted in a higher demand for Lipid-Lowering Agents in certain patient populations, and healthcare providers are increasingly screening patients for genetic lipid disorders.

Underlying macroeconomic factors:
The GCC region has a high per capita income, which has led to an increase in healthcare spending. This, coupled with a growing population and a rise in lifestyle diseases, has resulted in a growing demand for Lipid-Lowering Agents. Additionally, the region has a well-established healthcare infrastructure, with a high number of hospitals and clinics offering lipid management services.

Methodology

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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