The demand for Lipid-Lowering Agents in Hong Kong has been on the rise in recent years.
Customer preferences: Hong Kong has a high prevalence of cardiovascular diseases, which is a major driving factor for the growth of the Lipid-Lowering Agents market. Additionally, the aging population and changing lifestyle habits, such as unhealthy diets and lack of exercise, have contributed to the increasing demand for these drugs.
Trends in the market: The market for Lipid-Lowering Agents in Hong Kong is dominated by statins, which are the most commonly prescribed drugs for reducing cholesterol levels. However, there has been a growing trend towards the use of non-statin drugs, such as PCSK9 inhibitors and bile acid sequestrants, which have shown promising results in reducing cholesterol levels in patients who are unable to tolerate statins. Furthermore, there has been an increasing emphasis on combination therapy, where different types of drugs are used together to achieve better results.
Local special circumstances: Hong Kong has a well-established healthcare system, which provides easy access to healthcare services and prescription drugs. Moreover, the Hong Kong government has implemented various initiatives to promote healthy lifestyles and prevent cardiovascular diseases, which has led to increased awareness among the population about the importance of cholesterol management.
Underlying macroeconomic factors: Hong Kong has a high per capita income and a strong economy, which has led to an increase in healthcare spending. Furthermore, the government provides subsidies for prescription drugs, which has made Lipid-Lowering Agents more affordable for the general population. However, the market for these drugs is highly competitive, with many multinational pharmaceutical companies vying for market share. This has led to price competition and cost-cutting measures, which may impact the profitability of companies operating in this market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
