Lipid-Lowering Agents - Serbia | Statista Market Forecast

The Lipid-Lowering Agents market in Serbia is expected to experience a significant increase in revenue, with projections indicating that it will reach US$3.10m by the year 2024.
This growth is further expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 0.31%, ultimately resulting in a market volume of US$3.15m by the year 2029.
In comparison to other countries worldwide, it is worth noting that United States is projected to generate the highest revenue in the Lipid-Lowering Agents market, with an estimated revenue of US$4.46bn in the year 2024.
Serbia's lipid-lowering agents market is witnessing a rise in demand due to an increasing prevalence of cardiovascular diseases in the country.

Definition:
The Lipid-Lowering Agents market covers drugs to treat hyperlipidemia or dyslipidemia. These metabolic disorders are characterized by high levels of lipids, such as fats, cholesterol, or triglycerides, or lipoproteins in the blood. Different drug classes are included: statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, as well as combinations thereof.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Merck & Co., AstraZeneca, Viatris

Anti-hyperlipidemics
Drugs to treat high levels of lipids in the blood
Cholesterol-lowering drugs

Anti-diabetes drugs
Drugs to treat other metabolic disorders
Dietary supplements

The demand for Lipid-Lowering Agents in Serbia has been on the rise in recent years.

Customer preferences: Serbian customers are becoming more health-conscious and are adopting healthier lifestyles, including regular exercise and a balanced diet. Additionally, the aging population in Serbia has led to an increase in chronic diseases such as cardiovascular diseases, which require the use of Lipid-Lowering Agents.

Trends in the market: The Lipid-Lowering Agents market in Serbia is dominated by statins, which are the most commonly prescribed drugs for lowering cholesterol levels. However, there has been a growing trend towards the use of combination therapies, which involve the use of two or more drugs to achieve better lipid control.

Local special circumstances: The Serbian government has implemented policies to encourage the use of generic drugs, which has led to a decrease in the prices of Lipid-Lowering Agents. Additionally, the Serbian healthcare system is undergoing reforms to improve access to healthcare services and reduce the burden of out-of-pocket payments on patients.

Underlying macroeconomic factors: Serbia's economy has been growing steadily in recent years, which has led to an increase in disposable income and an improvement in living standards. This has resulted in an increase in healthcare spending, including spending on Lipid-Lowering Agents. Furthermore, Serbia's accession to the European Union has led to the harmonization of regulations and standards in the pharmaceutical industry, which has improved the quality of drugs available in the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.