Lipid-Lowering Agents - Malawi

Malawi

The Lipid-Lowering Agents market in Malawi is forecasted to achieve a revenue of US$0.59m in 2024.
It is anticipated that the revenue will experience a steady annual growth rate (CAGR 2024-2029) of -0.69%, leading to a market volume of US$0.57m by 2029.
When compared to other countries, United States is expected to generate the highest revenue of US$4,461.00m in 2024.
Malawi's lipid-lowering agents market is witnessing a surge in demand due to the increasing prevalence of cardiovascular diseases 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 Malawi has been on the rise in recent years.

Customer preferences: Malawi is a country with a high burden of non-communicable diseases, including cardiovascular diseases. As a result, there is a growing demand for Lipid-Lowering Agents in the country. Patients are increasingly aware of the benefits of these drugs in reducing the risk of heart attacks and strokes, and are seeking them out.

Trends in the market: The Lipid-Lowering Agents market in Malawi is dominated by generic drugs, which are more affordable for patients. However, there has been a shift towards branded drugs in recent years, as patients become more willing to pay for the perceived quality and efficacy of these drugs. This trend is expected to continue in the coming years, as more branded drugs become available in the market.

Local special circumstances: Malawi has a relatively small pharmaceutical industry, and most drugs are imported from other countries. This makes the market vulnerable to supply chain disruptions and price fluctuations. Additionally, there is a lack of regulation in the pharmaceutical industry, which can lead to the sale of counterfeit drugs.

Underlying macroeconomic factors: Malawi is one of the poorest countries in the world, with a low per capita income and high levels of poverty. This means that many patients cannot afford the high cost of branded drugs, and rely on generic drugs instead. Additionally, the country has a weak healthcare system, which limits access to healthcare services and drugs for many patients. However, there have been efforts to improve the healthcare system in recent years, which could lead to increased access to Lipid-Lowering Agents for patients.

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.