Lipid-Lowering Agents - Portugal

Portugal

Highlights

The Lipid-Lowering Agents market in Portugal is expected to experience significant growth in the coming years.
According to projections, the market's revenue is estimated to reach US$22.89m in 2024.
This growth is driven by various factors, including an increasing prevalence of cardiovascular diseases and a growing aging population.
Furthermore, it is anticipated that the market will continue to expand at a Compound Annual Growth Rate (CAGR) of 0.27% from 2024 to 2029.
This steady growth is expected to result in a market volume of US$23.21m by 2029, indicating a promising outlook for the Lipid-Lowering Agents market in Portugal.
When comparing in Portugal to other countries globally, it is noteworthy that United States is projected to generate the highest revenue in this market.
In 2024, the Lipid-Lowering Agents market United States is expected to generate a significant revenue of US$4.46bn, showcasing its dominance in the global market.
With these projections and insights, it is evident that Portugal's Lipid-Lowering Agents market is poised for growth, albeit on a smaller scale compared to United States.
The market's potential for revenue generation and development presents opportunities for pharmaceutical companies and healthcare providers operating in Portugal.
Portugal is experiencing a growing demand for lipid-lowering agents due to the rising prevalence of cardiovascular diseases in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Lipid-Lowering Agents in Portugal has been increasing steadily over the past few years.

Customer preferences: Portuguese customers are becoming increasingly health-conscious, leading to a rise in demand for drugs that can help control cholesterol levels. Lipid-Lowering Agents are being prescribed more frequently as a result of this trend.

Trends in the market: One trend in the Lipid-Lowering Agents market in Portugal is the increasing popularity of generic drugs. Generic drugs are more affordable than their branded counterparts, and this has made them more accessible to a wider range of customers. Another trend is the growing use of combination therapies, where two or more drugs are used together to achieve better results. This approach is becoming more common as doctors seek to provide more effective treatment options for their patients.

Local special circumstances: One of the unique features of the Portuguese market is the strong role played by pharmacies. Pharmacies in Portugal are often the first point of contact for patients seeking medical advice, and this has led to a close relationship between pharmacies and doctors. This relationship has helped to drive the demand for Lipid-Lowering Agents, as pharmacists are often the first to recommend these drugs to patients.

Underlying macroeconomic factors: The Portuguese economy has been growing steadily in recent years, and this has had a positive impact on the healthcare sector. The government has been investing more in healthcare infrastructure and services, which has helped to improve access to medical care for the population. This has led to an increase in demand for Lipid-Lowering Agents, as more people are able to afford these drugs. Additionally, the aging population in Portugal has also contributed to the growth of the Lipid-Lowering Agents market, as older people are more likely to require these drugs to manage their cholesterol levels.

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.