Lipid-Lowering Agents - Puerto Rico

Puerto Rico

In 2024, the projected revenue for the Lipid-Lowering Agents market in Puerto Rico is estimated to reach US$2.61m.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -0.31%, leading to a market volume of US$2.57m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$4,461.00m in 2024.
Recent studies in Puerto Rico have shown an increased demand for lipid-lowering agents due to the prevalence of cardiovascular diseases in the country.

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

Market

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Analyst Opinion

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

Customer preferences: Puerto Ricans, like many other populations, are becoming more health-conscious and are taking steps to prevent diseases such as cardiovascular disease, which is often linked to high cholesterol levels. This has led to an increase in demand for Lipid-Lowering Agents, which are used to lower cholesterol levels and reduce the risk of heart disease.

Trends in the market: The Lipid-Lowering Agents market in Puerto Rico is dominated by generic drugs. This is due to the fact that many of the patents for brand-name Lipid-Lowering Agents have expired, allowing for the production of cheaper generic versions. As a result, the market has become more competitive, with a greater number of manufacturers producing Lipid-Lowering Agents.

Local special circumstances: Puerto Rico has a large elderly population, which is more likely to suffer from high cholesterol levels and related health problems. This has contributed to the growth of the Lipid-Lowering Agents market in the country.

Underlying macroeconomic factors: Puerto Rico has a high prevalence of obesity and diabetes, which are risk factors for high cholesterol levels. As a result, there is a higher demand for Lipid-Lowering Agents in the country. Additionally, the healthcare system in Puerto Rico is heavily subsidized by the government, which has made Lipid-Lowering Agents more accessible and affordable to the population.In conclusion, the Lipid-Lowering Agents market in Puerto Rico is growing due to a combination of factors, including a more health-conscious population, the availability of cheaper generic drugs, a large elderly population, and a high prevalence of risk factors for high cholesterol levels.

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.