Lipid-Lowering Agents - North America

North America

Highlights

The Lipid-Lowering Agents market in North America is forecasted to achieve a revenue of US$4.64bn in 2024.
It is expected to demonstrate a compound annual growth rate (CAGR 2024-2029) of -0.36%, leading to a market volume of US$4.56bn by 2029.
Among all countries worldwide, United States is projected to generate the highest revenue, amounting to US$4.46bn in 2024.
In North America, the demand for lipid-lowering agents is steadily increasing due to the growing prevalence of cardiovascular diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in North America has been steadily increasing over the years.

Customer preferences: The increasing prevalence of cardiovascular diseases and high cholesterol levels has led to a rise in the demand for Lipid-Lowering Agents in North America. Consumers are becoming more aware of the health risks associated with high cholesterol levels and are therefore seeking preventive measures to maintain healthy cholesterol levels. Additionally, the aging population in North America has also contributed to the growth of the Lipid-Lowering Agents market, as older individuals are more susceptible to high cholesterol levels and related conditions.

Trends in the market: The Lipid-Lowering Agents market in North America is expected to continue growing at a steady pace in the coming years. One of the major trends in the market is the increasing preference for combination therapies, which involve the use of multiple drugs to treat high cholesterol levels. Combination therapies have been found to be more effective in reducing cholesterol levels compared to monotherapy, and this trend is expected to continue in the future. Another trend in the market is the increasing adoption of PCSK9 inhibitors, which have been found to be highly effective in reducing LDL cholesterol levels.

Local special circumstances: The United States is the largest market for Lipid-Lowering Agents in North America, accounting for a significant share of the overall market. The high prevalence of high cholesterol levels and related conditions in the country has contributed to the growth of the market. Additionally, the presence of major pharmaceutical companies in the United States has also contributed to the growth of the market, as these companies are investing heavily in research and development of new Lipid-Lowering Agents.

Underlying macroeconomic factors: The increasing healthcare expenditure in North America is expected to drive the growth of the Lipid-Lowering Agents market in the region. Additionally, the growing prevalence of high cholesterol levels and related conditions is expected to further boost the demand for Lipid-Lowering Agents in the region. However, the high cost of Lipid-Lowering Agents and the availability of generic alternatives may pose a challenge to the growth of the market 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.