Lipid-Lowering Agents - Thailand

Thailand

The Lipid-Lowering Agents market in Thailand is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$13.37m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 0.22% between 2024 and 2029.
As a result, the market volume is expected to reach US$13.52m by 2029.
When compared to other countries, United States is poised to generate the highest revenue in the Lipid-Lowering Agents market.
In fact, it is estimated that United States will generate a staggering US$4,461.00m in revenue in 2024.
Thailand's increasing aging population and rising prevalence of cardiovascular diseases are driving the demand for lipid-lowering agents in the country.

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

Market

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Currency

Analyst Opinion

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

Customer preferences: The increasing prevalence of cardiovascular diseases and high cholesterol levels among the Thai population has resulted in a growing demand for Lipid-Lowering Agents. Additionally, the rising awareness of the importance of maintaining a healthy lifestyle and the availability of these drugs over-the-counter has further contributed to the growth of this market.

Trends in the market: The Lipid-Lowering Agents market in Thailand is expected to continue to grow due to the increasing prevalence of cardiovascular diseases and high cholesterol levels in the country. The market is also expected to benefit from the growing aging population and the increasing adoption of sedentary lifestyles. Moreover, the introduction of new and innovative drugs in the market is expected to further drive the growth of the market.

Local special circumstances: The Thai government has been taking measures to promote healthy lifestyles among its citizens, including campaigns to encourage exercise and healthy eating habits. These initiatives are likely to contribute to the growth of the Lipid-Lowering Agents market in the country. Additionally, the government has been promoting the use of generic drugs to reduce healthcare costs, which is expected to further boost the growth of the market.

Underlying macroeconomic factors: The Thai economy has been growing steadily in recent years, which has led to an increase in disposable incomes among the population. This has resulted in higher healthcare spending, which is expected to contribute to the growth of the Lipid-Lowering Agents market in the country. Additionally, the increasing healthcare infrastructure and the rising availability of healthcare facilities are expected to further drive the growth of the market.

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.