Lipid-Lowering Agents - Niger | Statista Market Forecast

The Lipid-Lowering Agents market in Niger is expected to experience significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$773.00k.
This indicates a promising trajectory for the industry.
Furthermore, a steady annual growth rate (CAGR 2024-2029) of 1.29% is anticipated, leading to a substantial increase in market volume.
By 2029, it is projected to reach US$824.10k.
In a global comparison, United States is anticipated to generate the highest revenue in the Lipid-Lowering Agents market.
In 2024 alone, United States is expected to generate an impressive revenue of US$4.46bn.
This underscores the significant market presence and potential of the United States in this industry.
Niger is experiencing a growing demand for lipid-lowering agents due to an increase in 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 demand for Lipid-Lowering Agents in Niger has been on the rise in recent years.

Customer preferences: Niger has a high prevalence of cardiovascular diseases, which has led to an increased demand for Lipid-Lowering Agents. Customers in Niger prefer generic drugs due to their affordability and accessibility.

Trends in the market: The market for Lipid-Lowering Agents in Niger has been growing steadily due to the increasing prevalence of cardiovascular diseases. The market is dominated by statins, which account for the majority of the sales. However, there has been a shift towards combination therapy, with more customers opting for drugs that combine statins with other lipid-lowering agents.

Local special circumstances: Niger is a low-income country with a weak healthcare system. This has led to a lack of access to quality healthcare services, including medication. The government has been working to improve the healthcare system, but progress has been slow. This has led to a reliance on the private sector for healthcare services and medication.

Underlying macroeconomic factors: Niger is a predominantly agricultural country with a high poverty rate. The economy is largely dependent on the export of raw materials, such as uranium and gold. The low-income levels and high poverty rate have contributed to the low demand for branded drugs in Niger. The government has been working to diversify the economy and reduce reliance on raw material exports, which could lead to an increase in disposable income and a higher demand for branded drugs in the future.

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.