Lipid-Lowering Agents - Qatar

Qatar

The Lipid-Lowering Agents market in Qatar is expected to experience substantial growth in the coming years.
According to projections, the revenue of this market is anticipated to reach US$3.28m in 2024.
Furthermore, it is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 0.48%, leading to a market volume of US$3.36m by 2029.
When compared to other countries globally, United States is forecasted to generate the highest revenue in this market, with an estimated value of US$4,461.00m in 2024.
Qatar's market for Lipid-Lowering Agents is witnessing a surge in demand due to the increasing prevalence of lifestyle-related diseases.

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

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Analyst Opinion

The demand for Lipid-Lowering Agents in Qatar has been steadily increasing in recent years.

Customer preferences: The customers in Qatar are becoming more health-conscious and are taking measures to prevent chronic diseases. This has led to an increase in the demand for Lipid-Lowering Agents. The customers are also showing a preference for natural and herbal products over synthetic ones.

Trends in the market: The market for Lipid-Lowering Agents in Qatar has been growing due to the increasing prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases. The market is dominated by statins, which are the most commonly prescribed Lipid-Lowering Agents. However, there has been a growing trend towards the use of natural and herbal products, which are perceived to have fewer side effects than synthetic drugs.

Local special circumstances: Qatar has a high prevalence of lifestyle diseases, which has led to an increased demand for Lipid-Lowering Agents. The government has also taken measures to promote healthy living, such as implementing a tax on sugary drinks and introducing a national program to encourage physical activity. These initiatives have further contributed to the growth of the Lipid-Lowering Agents market in Qatar.

Underlying macroeconomic factors: Qatar has a high GDP per capita, which has led to an increase in disposable income and healthcare spending. The government has also invested heavily in the healthcare sector, which has led to the development of a robust healthcare infrastructure. This has led to an increase in the availability of Lipid-Lowering Agents in the market. Additionally, Qatar has a large expat population, who have a higher propensity to consume healthcare products and services.

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.