Lipid-Lowering Agents - Indonesia

Indonesia

In Indonesia, the revenue in the market for Lipid-Lowering Agents market is anticipated to reach US$22.89m in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 0.60%, leading to a market volume of US$23.58m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$4,461.00m in 2024.
Indonesia's growing middle class and increasing awareness about cardiovascular health are driving the demand for lipid-lowering agents in the country.

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

Market

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Currency

Analyst Opinion

The demand for Lipid-Lowering Agents in Indonesia has been increasing steadily over the past few years.

Customer preferences: Indonesian customers are becoming more health-conscious and are taking preventive measures to avoid lifestyle diseases. This has led to an increase in demand for Lipid-Lowering Agents, which are used to control cholesterol levels in the body. Customers are also increasingly relying on online channels to purchase these products due to the convenience and accessibility they offer.

Trends in the market: The Lipid-Lowering Agents market in Indonesia is witnessing a shift towards generic drugs due to their affordability and easy availability. The government's efforts to promote the use of generic drugs have also contributed to this trend. Additionally, the market is also witnessing an increase in the use of combination therapy, which involves the use of two or more drugs to achieve better results.

Local special circumstances: Indonesia has a large population with a significant proportion of the population being affected by lifestyle diseases such as obesity, diabetes, and hypertension. This has led to an increase in demand for Lipid-Lowering Agents as a preventive measure. The government's efforts to promote the use of generic drugs have also contributed to the growth of the market.

Underlying macroeconomic factors: Indonesia's healthcare industry has been growing at a steady pace, driven by the increasing demand for healthcare services and products. The government's focus on improving healthcare infrastructure and services has also contributed to the growth of the industry. Additionally, the rise in disposable income and the growing middle class population in Indonesia have also contributed to the growth of the Lipid-Lowering Agents market.

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.