Lipid-Lowering Agents - Turkey

Turkey

in Turkey, a country located at the crossroads of Europe and Asia, is expected to play a significant role in the Lipid-Lowering Agents market.
According to projections, the revenue in this market is forecasted to reach US$13.53m Turkish Liras by 2024.
This estimate suggests a steady growth rate of -0.27% per year, leading to a market volume of US$13.35m Turkish Liras by 2029.
When compared to other countries globally, United States is anticipated to generate the highest revenue in this market, reaching a staggering US$4,461.00m Turkish Liras in 2024.
Turkey's contribution to this market is expected to be significant and poised for growth in the coming years.
Turkey is experiencing a growing demand for lipid-lowering agents as the population becomes increasingly aware of the importance of cardiovascular health.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Patients in Turkey are becoming more health conscious and aware of the risks associated with high cholesterol levels. As a result, there has been a growing demand for Lipid-Lowering Agents, which are drugs that help to reduce cholesterol levels in the blood.

Trends in the market: The Lipid-Lowering Agents market in Turkey is dominated by statins, which are a class of drugs that lower cholesterol levels by inhibiting an enzyme in the liver. However, there has been a growing demand for non-statin drugs, such as PCSK9 inhibitors, which are a newer class of drugs that work by blocking a protein that reduces the liver's ability to remove LDL cholesterol from the blood.

Local special circumstances: One of the main factors driving the demand for Lipid-Lowering Agents in Turkey is the high prevalence of cardiovascular disease in the country. According to the Turkish Society of Cardiology, cardiovascular disease is the leading cause of death in Turkey, accounting for more than 40% of all deaths.

Underlying macroeconomic factors: The Turkish government has been investing heavily in its healthcare system in recent years, with a particular focus on improving access to healthcare services in rural areas. This has helped to increase the availability of Lipid-Lowering Agents in the country, as well as improve patient outcomes. Additionally, the country's growing middle class has more disposable income to spend on healthcare, which has also contributed to the growth of the Lipid-Lowering Agents market in Turkey.

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.