Lipid-Lowering Agents - India

India

Highlights

In India, the revenue in the Lipid-Lowering Agents market is estimated to reach US$75.15m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 0.71%, leading to a market volume of US$77.84m by 2029.
When compared globally, United States is projected to generate the highest revenue in the Lipid-Lowering Agents market, amounting to US$4.46bn in 2024.
India's growing middle class and increasing urbanization are driving demand for lipid-lowering agents in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in India has been growing steadily over the years.

Customer preferences: Indian customers 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, as they are an effective way to manage cholesterol levels. Additionally, the rise in the prevalence of cardiovascular diseases in India has also contributed to the growth of the Lipid-Lowering Agents market.

Trends in the market: The Lipid-Lowering Agents market in India is dominated by statins, which are the most commonly prescribed drugs for managing cholesterol levels. However, there has been a shift towards the use of non-statin drugs in recent years, as they are believed to have fewer side effects. This trend is expected to continue in the future, as more non-statin drugs are developed and introduced into the market.

Local special circumstances: India has a large population of vegetarians, who are more prone to developing high cholesterol levels due to their diet. This has led to the development of specialized Lipid-Lowering Agents that are tailored to the needs of vegetarians. Additionally, the high prevalence of diabetes in India has also led to the development of Lipid-Lowering Agents that are specifically designed for diabetic patients.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in India is driven by a combination of factors, including increasing disposable income, growing healthcare infrastructure, and rising awareness about the importance of managing cholesterol levels. Additionally, the Indian government has implemented various initiatives aimed at improving healthcare access and affordability, which has further contributed to the growth of the Lipid-Lowering Agents market. However, the market is also facing challenges such as the lack of insurance coverage for many patients and the high cost of some 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.