Sierra Leone, a country in West Africa, has been witnessing a significant rise in the prevalence of non-communicable diseases (NCDs) such as hypertension, diabetes, and obesity. This has led to an increase in the demand for lipid-lowering agents in the country.
Customer preferences: Sierra Leone has a low-income population with limited access to healthcare facilities. As a result, the demand for generic drugs is higher than branded drugs. Patients prefer affordable and effective treatment options with minimal side effects.
Trends in the market: The lipid-lowering agents market in Sierra Leone has been growing steadily over the years. The market is dominated by statins, which are the most commonly prescribed lipid-lowering drugs. The increasing prevalence of NCDs and the growing awareness of the benefits of lipid-lowering agents have been driving the growth of the market.
Local special circumstances: Sierra Leone has a high burden of communicable diseases such as malaria, tuberculosis, and HIV/AIDS. As a result, the healthcare system is primarily focused on managing these diseases. The limited resources and infrastructure have led to a lack of awareness and education about NCDs and their risk factors. This has resulted in a low diagnosis rate and poor management of NCDs.
Underlying macroeconomic factors: Sierra Leone is one of the poorest countries in the world, with a low GDP per capita and high poverty rate. The healthcare system is underfunded and lacks resources and infrastructure. The government has limited funds to invest in healthcare, which has resulted in a lack of access to quality healthcare services. The private sector plays a significant role in providing healthcare services, including the distribution of drugs. However, the lack of regulation and oversight has led to the availability of substandard and counterfeit drugs in the market. In conclusion, the demand for lipid-lowering agents in Sierra Leone is driven by the increasing prevalence of NCDs. Patients prefer affordable and effective treatment options with minimal side effects. The market is dominated by statins, which are the most commonly prescribed lipid-lowering drugs. Sierra Leone's healthcare system is primarily focused on managing communicable diseases, which has resulted in a lack of awareness and education about NCDs. The limited resources and infrastructure have led to a low diagnosis rate and poor management of NCDs. The healthcare system is underfunded and lacks resources and infrastructure, which has resulted in a lack of access to quality healthcare services. The private sector plays a significant role in providing healthcare services, including the distribution of drugs, but the lack of regulation and oversight has led to the availability of substandard and counterfeit drugs 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.
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