Lipid-Lowering Agents - Morocco

Morocco

The Lipid-Lowering Agents market in Morocco is forecasted to achieve a revenue of US$4.41m in 2024.
It is anticipated to demonstrate a compound annual growth rate (CAGR 2024-2029) of 0.32%, leading to a market volume of US$4.48m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$4,461.00m in 2024.
Morocco has seen a growing demand for lipid-lowering agents due to an increasing awareness of cardiovascular health.

Key regions: Europe, Brazil, France, Australia, Germany

Market

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Analyst Opinion

The demand for Lipid-Lowering Agents in Morocco has been on the rise in recent years.

Customer preferences: Moroccan consumers are becoming increasingly health-conscious and are looking for ways to prevent and manage lifestyle diseases such as high cholesterol levels. This has led to a growing demand for Lipid-Lowering Agents, which are medications that help lower cholesterol levels in the blood.

Trends in the market: The Lipid-Lowering Agents market in Morocco is expected to continue growing in the coming years, driven by factors such as an aging population, increasing prevalence of lifestyle diseases, and rising awareness about the importance of managing cholesterol levels. The market is also witnessing a shift towards more affordable generic drugs, as well as an increase in the availability of these drugs through government-run healthcare programs.

Local special circumstances: Morocco has a relatively high prevalence of lifestyle diseases such as diabetes, hypertension, and obesity, which are all risk factors for high cholesterol levels. This has led to a growing demand for Lipid-Lowering Agents in the country. Additionally, the Moroccan government has been working to improve access to healthcare services, which has helped to increase the availability of Lipid-Lowering Agents across the country.

Underlying macroeconomic factors: Morocco's economy has been growing steadily in recent years, with a focus on diversifying the economy and promoting foreign investment. This has helped to create a more stable business environment and has led to increased investment in the healthcare sector. Additionally, Morocco has a young and growing population, which is expected to continue driving demand for healthcare services in the coming years.

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.