The demand for Lipid-Lowering Agents in Madagascar has been on the rise in recent years.
Customer preferences: Madagascar has a high prevalence of cardiovascular diseases, which has led to an increase in demand for Lipid-Lowering Agents. Patients are increasingly becoming aware of the benefits of these drugs in reducing the risk of heart attacks and stroke. As a result, more patients are seeking medical attention and are being prescribed these drugs.
Trends in the market: The Lipid-Lowering Agents market in Madagascar is expected to continue growing due to the increasing prevalence of cardiovascular diseases. The market is also witnessing the entry of new players, which is leading to increased competition. This competition is expected to result in lower prices and increased availability of these drugs. Additionally, there is a growing trend towards the use of combination therapies, which is expected to further drive the growth of the market.
Local special circumstances: Madagascar is a low-income country, and access to healthcare is limited. However, the government has been working to increase access to healthcare, and this has led to an increase in the number of patients seeking medical attention. Additionally, there is a growing trend towards self-medication, which is leading to an increase in the availability of these drugs in pharmacies.
Underlying macroeconomic factors: Madagascar is one of the poorest countries in the world, and the economy is heavily dependent on agriculture. The country has been experiencing slow economic growth, which has limited the ability of the government to invest in healthcare. However, there has been some progress in recent years, and the government has been working to improve access to healthcare. Additionally, there has been an increase in foreign investment, which is expected to further drive economic growth and improve access to healthcare.
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.
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