Lipid-Lowering Agents - Japan

Japan

Highlights

in Japan, a country known for its rich history and technological advancements, is also a key player in the Lipid-Lowering Agents market.
In 2024, the projected revenue for this market in Japan is a substantial US$337.30m.
Looking ahead, the market is expected to experience a steady annual growth rate of -0.02% from 2024 to 2029, resulting in a market volume of US$336.90m by the end of 2029.
When comparing global figures, it becomes evident that United States leads the way in revenue generation within the Lipid-Lowering Agents market.
In 2024, United States is expected to generate a staggering US$4.46bn in revenue, solidifying its position as a dominant force in this industry.
Japan's growing aging population and high prevalence of cardiovascular diseases have led to a significant increase in the demand for lipid-lowering agents in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Japan, a country known for its healthy lifestyle and longevity, has been experiencing a steady growth in the Lipid-Lowering Agents market over the years.

Customer preferences: Japanese customers have always been conscious of their health and wellbeing. With the rise in lifestyle diseases such as high cholesterol and heart diseases, there has been a growing demand for Lipid-Lowering Agents. Additionally, the aging population in Japan has been a major driver of this market as they tend to be more susceptible to such diseases.

Trends in the market: One of the major trends in the Lipid-Lowering Agents market in Japan is the shift towards natural and herbal products. Japanese consumers are increasingly looking for natural alternatives to traditional medicines and are willing to pay a premium for such products. This has led to the rise of several domestic players offering natural and herbal Lipid-Lowering Agents. Another trend is the growing popularity of combination therapies, where two or more drugs are combined to achieve better results.

Local special circumstances: The Japanese government has been actively promoting the use of Lipid-Lowering Agents to reduce the incidence of lifestyle diseases. The government has also been providing subsidies to patients who are prescribed Lipid-Lowering Agents. This has led to an increase in the number of patients seeking treatment and has been a major driver of the market.

Underlying macroeconomic factors: Japan has been facing a demographic challenge with an aging population and a declining birth rate. This has led to an increase in healthcare spending and a rise in the incidence of lifestyle diseases. The Japanese government has been investing heavily in healthcare infrastructure and research and development of new drugs. This has created a favorable environment for the growth of the Lipid-Lowering Agents market in Japan. Additionally, the rise of medical tourism in Japan has also been a major driver of this market as more and more patients are seeking treatment in the country.

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.