Lipid-Lowering Agents - Iraq

Iraq

The Lipid-Lowering Agents market in Iraq is expected to see significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$8.88m.
This indicates a positive trend in the market's performance.
Furthermore, a steady annual growth rate of 0.25% is expected from 2024 to 2029, resulting in a market volume of US$8.99m by 2029.
In terms of global comparison, it is noteworthy that United States is projected to generate the highest revenue in the Lipid-Lowering Agents market.
In 2024, the revenue is estimated to reach a staggering US$4,461.00m.
This indicates the significant market size and potential United States.
Iraq is experiencing a rising demand for lipid-lowering agents due to the increasing prevalence of cardiovascular diseases in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Lipid-Lowering Agents in Iraq has been on the rise in recent years.

Customer preferences: The Iraqi population is becoming increasingly health-conscious and is taking measures to prevent chronic diseases. The rise in obesity and cardiovascular diseases has led to an increase in the demand for Lipid-Lowering Agents. Patients are also becoming more aware of the benefits of early intervention and are seeking treatment at an early stage.

Trends in the market: The Lipid-Lowering Agents market in Iraq is expected to grow in the coming years. The market is dominated by statins, which account for the majority of the sales. However, there is a growing trend of patients opting for alternative therapies such as PCSK9 inhibitors and bile acid sequestrants. The market is also witnessing the entry of new players offering innovative products.

Local special circumstances: The healthcare system in Iraq is still developing and is facing challenges such as inadequate infrastructure and shortage of healthcare professionals. The government is taking measures to improve the healthcare system, but progress has been slow. The private sector is playing an increasingly important role in providing healthcare services, including the provision of Lipid-Lowering Agents.

Underlying macroeconomic factors: Iraq is one of the largest oil-producing countries in the world, and the economy is heavily dependent on oil exports. The country has been facing economic challenges in recent years due to the decline in oil prices and the ongoing conflict in the region. The healthcare sector has been affected by the economic challenges, with the government struggling to allocate sufficient funds for healthcare. However, the Lipid-Lowering Agents market is expected to continue to grow due to the increasing demand from the population.

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.