Lipid-Lowering Agents - Southeast Asia

Southeast Asia

Highlights

The Lipid-Lowering Agents market in Southeast Asia is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach a staggering US$89.28m in 2024.
Furthermore, it is expected that this market will continue to exhibit a robust annual growth rate of 0.74% (CAGR 2024-2029), leading to a significant expansion in market volume, estimated to be around US$92.62m by 2029.
When compared on a global scale, it is noteworthy that United States will dominate this market, generating the highest revenue of US$4.46bn in 2024.
In Southeast Asia, the demand for lipid-lowering agents is steadily increasing due to the high prevalence of cardiovascular diseases in the region.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Southeast Asia are becoming more health-conscious and are taking proactive measures to prevent lifestyle diseases such as cardiovascular diseases. This has led to an increase in demand for Lipid-Lowering Agents, as they are an effective way to manage cholesterol levels and reduce the risk of heart diseases.

Trends in the market: Indonesia, Thailand, and the Philippines are the largest markets for Lipid-Lowering Agents in Southeast Asia. These countries have witnessed a significant increase in the prevalence of lifestyle diseases, leading to a surge in demand for Lipid-Lowering Agents. In Indonesia, the government has launched a national program to reduce cholesterol levels in the population, which has further boosted the demand for Lipid-Lowering Agents. In the Philippines, the government has implemented a universal healthcare program that has increased access to healthcare services, including Lipid-Lowering Agents.

Local special circumstances: In Malaysia, the demand for Lipid-Lowering Agents is driven by the high prevalence of obesity and diabetes in the population. The country has also witnessed a surge in demand for generic Lipid-Lowering Agents due to the government's efforts to reduce healthcare costs. In Singapore, the demand for Lipid-Lowering Agents is driven by the aging population, as the risk of cardiovascular diseases increases with age.

Underlying macroeconomic factors: The Lipid-Lowering Agents market in Southeast Asia is also influenced by macroeconomic factors such as GDP growth, healthcare spending, and government policies. The region has witnessed robust economic growth in recent years, leading to an increase in disposable income and healthcare spending. Governments in the region are also investing heavily in healthcare infrastructure, which has increased access to healthcare services. The increasing prevalence of lifestyle diseases and the aging population in the region are expected to continue driving the demand for Lipid-Lowering Agents in the coming years.

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.