Lipid-Lowering Agents - Norway

Norway

The Lipid-Lowering Agents market in Norway is expected to witness a significant increase in revenue, reaching a projected value of US$19.38m in 2024.
It is anticipated that this market will continue to grow steadily at an annual growth rate of -0.93%, resulting in a market volume of US$18.50m by 2029.
In terms of global comparison, it is noteworthy that United States is expected to generate the highest revenue in this market, with an estimated value of US$4,461.00m in 2024.
Norway's market for lipid-lowering agents is experiencing a surge in demand due to increased awareness of cardiovascular health.

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

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Analyst Opinion

The Lipid-Lowering Agents market in Norway has seen a steady growth in recent years.

Customer preferences: Norwegian consumers have increasingly become health-conscious, leading to a growing demand for Lipid-Lowering Agents. This trend is driven by a desire for a healthier lifestyle and a growing awareness of the health risks associated with high levels of cholesterol.

Trends in the market: The Lipid-Lowering Agents market in Norway is characterized by the dominance of statins, which account for the majority of the market share. However, there has been a growing interest in alternative therapies, such as PCSK9 inhibitors and bile acid sequestrants. This trend is driven by the need for more effective treatments for patients who are unable to tolerate statins or who have not achieved their cholesterol-lowering goals with statin therapy alone.

Local special circumstances: The Norwegian healthcare system is publicly funded, which has led to a focus on cost-effectiveness in the prescription of Lipid-Lowering Agents. This has led to a preference for generic statins over branded products, as well as a focus on the use of Lipid-Lowering Agents in high-risk patients.

Underlying macroeconomic factors: Norway has a high standard of living and a well-developed healthcare system, which has led to a high level of access to Lipid-Lowering Agents for the population. Additionally, the aging population in Norway has led to an increased demand for Lipid-Lowering Agents, as cholesterol levels tend to rise with age. However, the high cost of new Lipid-Lowering Agents, such as PCSK9 inhibitors, may limit their uptake in the Norwegian market.

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.