Lipid-Lowering Agents - Romania

Romania

Romania is projected to experience significant revenue growth in the Lipid-Lowering Agents market.
In 2024, the revenue is estimated to reach US$11.52m.
This represents a promising figure for the country's pharmaceutical sector.
Furthermore, the market is expected to display a commendable annual growth rate (CAGR 2024-2029) of 0.29%.
As a result, the market volume in Romania is projected to reach US$11.69m by 2029.
When comparing Romania's revenue in the Lipid-Lowering Agents market to other countries globally, it is important to note that United States leads the way.
In 2024, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is expected to generate a substantial revenue of US$4,461.00m in this market.
This highlights the dominance of the United States in terms of revenue generation in this industry.
The demand for lipid-lowering agents in Romania has surged due to the rising prevalence of cardiovascular diseases in the country.

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

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Analyst Opinion

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

Customer preferences: Romanians are becoming increasingly health-conscious and are taking measures to prevent chronic diseases such as cardiovascular diseases. This has led to an increased demand for Lipid-Lowering Agents, which are used to lower cholesterol levels in the blood. Patients are also preferring non-invasive treatments, such as taking medication, over more invasive procedures.

Trends in the market: The Lipid-Lowering Agents market in Romania has seen a shift towards generic drugs due to their affordability and availability. This has led to increased competition among manufacturers, resulting in lower prices for Lipid-Lowering Agents. Additionally, there has been a rise in the use of combination therapies, where two or more drugs are used together to achieve better results.

Local special circumstances: The Romanian government has implemented measures to increase access to healthcare, including reimbursing the cost of Lipid-Lowering Agents for certain patient groups. This has led to an increase in demand for these drugs, particularly among the elderly population.

Underlying macroeconomic factors: Romania's economy has been growing steadily in recent years, with an increase in disposable income among the population. This has led to an increase in healthcare spending and a greater willingness to invest in preventive healthcare measures. Additionally, the aging population in Romania has led to an increased demand for Lipid-Lowering Agents as they are more prone to chronic diseases such as cardiovascular diseases.

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.