Lipid-Lowering Agents - Malaysia | Statista Market Forecast

The Lipid-Lowering Agents market in Malaysia is expected to witness a significant increase in revenue, with projections indicating that it will reach US$10.87m in 2024.
Furthermore, it is anticipated to exhibit a robust annual growth rate (CAGR 2024-2029) of 0.60%, leading to a market volume of US$11.20m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated value of US$4.46bn in 2024.
In Malaysia, the demand for lipid-lowering agents has been steadily increasing due to the rising prevalence of cardiovascular diseases in the country.

Definition:
The Lipid-Lowering Agents market covers drugs to treat hyperlipidemia or dyslipidemia. These metabolic disorders are characterized by high levels of lipids, such as fats, cholesterol, or triglycerides, or lipoproteins in the blood. Different drug classes are included: statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, as well as combinations thereof.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Merck & Co., AstraZeneca, Viatris

Anti-hyperlipidemics
Drugs to treat high levels of lipids in the blood
Cholesterol-lowering drugs

Anti-diabetes drugs
Drugs to treat other metabolic disorders
Dietary supplements

The Lipid-Lowering Agents market in Malaysia has been experiencing steady growth in recent years.

Customer preferences: Malaysian customers are increasingly concerned about their cardiovascular health, which has led to a growing demand for lipid-lowering agents. This trend is in line with global health concerns and is expected to continue in the coming years.

Trends in the market: The market for lipid-lowering agents in Malaysia is dominated by statins, which are widely prescribed by healthcare professionals. However, there has been a growing interest in alternative therapies such as PCSK9 inhibitors and bile acid sequestrants. This trend is in line with global developments in the lipid-lowering agents market, where new drugs are being developed to address the limitations of existing therapies.

Local special circumstances: The Malaysian government has been promoting healthy living through various initiatives, including the National Strategic Plan for Non-Communicable Disease (NSP-NCD). This plan aims to reduce the burden of non-communicable diseases, including cardiovascular disease, by promoting healthy lifestyles and providing access to healthcare services. These initiatives are expected to drive the demand for lipid-lowering agents in the country.

Underlying macroeconomic factors: The Malaysian economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. This trend is expected to continue, which will further drive the demand for lipid-lowering agents and other healthcare products in the country. Additionally, Malaysia's aging population is expected to drive the demand for lipid-lowering agents, as older adults are more likely to suffer from cardiovascular disease and related conditions.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.