Lipid-Lowering Agents - Malta

Malta

Highlights

The Lipid-Lowering Agents market in Malta is expected to achieve a revenue of US$1.17m by the year 2024.
It is projected to witness a steady annual growth rate (CAGR 2024-2029) of 0.81%, leading to a market volume of US$1.22m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, with an estimated value of US$4.46bn in 2024.
In Malta, the market for lipid-lowering agents is driven by a growing awareness of the importance of cardiovascular health among the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Malta, a small island country in the Mediterranean Sea, has been experiencing a steady growth in the Lipid-Lowering Agents market in recent years.

Customer preferences: Due to the high prevalence of cardiovascular diseases in Malta, there is a growing demand for Lipid-Lowering Agents among the population. Patients are increasingly aware of the benefits of these drugs in reducing the risk of heart attacks and strokes, and are therefore more willing to take them as part of their treatment plan. Additionally, there is a growing trend towards preventive healthcare, which has led to an increase in the use of Lipid-Lowering Agents among healthy individuals with high cholesterol levels.

Trends in the market: The Lipid-Lowering Agents market in Malta is dominated by statins, which are the most commonly prescribed drugs for reducing cholesterol levels. However, there is a growing demand for newer drugs such as PCSK9 inhibitors, which are more effective in reducing LDL cholesterol levels. This trend is driven by the increasing number of patients who are resistant to statins or experience adverse effects from these drugs. Another trend in the market is the growing popularity of combination therapies, which involve the use of two or more Lipid-Lowering Agents to achieve better lipid control.

Local special circumstances: One of the unique characteristics of the Lipid-Lowering Agents market in Malta is the high level of government involvement in healthcare. The government provides free healthcare to all citizens and residents, which has led to a high utilization of healthcare services. Additionally, the government regulates drug prices, which has resulted in lower drug prices compared to other European countries. This has made Lipid-Lowering Agents more affordable and accessible to the population.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in Malta is influenced by several macroeconomic factors, including the aging population, increasing healthcare expenditure, and the growing burden of non-communicable diseases. The aging population has led to a higher prevalence of cardiovascular diseases, which has increased the demand for Lipid-Lowering Agents. Additionally, the government has been investing more in healthcare, which has led to an increase in healthcare expenditure. This has enabled the healthcare system to provide better access to Lipid-Lowering Agents for the population. Finally, the growing burden of non-communicable diseases such as diabetes and obesity has led to an increased demand for Lipid-Lowering Agents among patients with these 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.