Lipid-Lowering Agents - Ireland

Ireland

Highlights

In Ireland, the revenue in the Lipid-Lowering Agents market is forecasted to reach US$14.92m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.39%, which will lead to a market volume of US$14.62m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, amounting to US$4.46bn in 2024.
In Ireland, the market for Lipid-Lowering Agents is experiencing a surge in demand due to the increasing prevalence of cardiovascular diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in Ireland has been increasing steadily in recent years due to various factors.

Customer preferences: Irish customers are becoming more health-conscious and are taking more responsibility for their health. This has led to an increase in demand for Lipid-Lowering Agents as people are becoming more aware of the risks associated with high cholesterol levels. Additionally, the aging population in Ireland has also contributed to the increasing demand for these drugs.

Trends in the market: The Lipid-Lowering Agents market in Ireland is expected to grow over the next few years due to the increasing prevalence of cardiovascular diseases. There has also been a shift towards more personalized medicine, and this trend is expected to continue in the future. This will lead to an increase in demand for drugs that can be tailored to individual patients' needs.

Local special circumstances: One of the unique aspects of the Irish market is the country's healthcare system. The Irish government provides free healthcare to all citizens, and this has led to a high level of demand for prescription drugs. Additionally, there is a strong pharmaceutical industry in Ireland, which has contributed to the growth of the market.

Underlying macroeconomic factors: The Irish economy has been growing steadily in recent years, and this has led to an increase in healthcare spending. Additionally, the Irish government has been investing in healthcare infrastructure, which has led to an increase in the availability of healthcare services. These factors have contributed to the growth of the Lipid-Lowering Agents market in Ireland.In conclusion, the Lipid-Lowering Agents market in Ireland is expected to continue to grow in the coming years due to the increasing prevalence of cardiovascular diseases, the shift towards more personalized medicine, and the unique aspects of the Irish healthcare system. Additionally, the growth of the Irish economy and the government's investment in healthcare infrastructure are expected to contribute to the growth of the 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.