The demand for Lipid-Lowering Agents in Turkmenistan has been on the rise in recent years.
Customer preferences: Turkmenistan has a growing aging population, which is one of the major factors contributing to the increase in demand for Lipid-Lowering Agents. Additionally, the country has a high prevalence of cardiovascular diseases, which has also led to an increase in demand for these drugs.
Trends in the market: The Lipid-Lowering Agents market in Turkmenistan is dominated by imported drugs, with a majority of the drugs coming from Russia and India. The market is highly competitive, with both generic and branded drugs available. However, due to the high cost of branded drugs, there has been a shift towards the use of generic drugs.
Local special circumstances: Turkmenistan has a state-controlled healthcare system, which has resulted in limited access to healthcare for the general population. The government provides free healthcare services, but the quality of care is often poor, and there is a lack of modern medical equipment and facilities. This has led to a reliance on imported drugs, as the local pharmaceutical industry is not well developed.
Underlying macroeconomic factors: Turkmenistan has a growing economy, which has resulted in an increase in disposable income and an improvement in living standards. This has led to an increase in demand for healthcare services, including Lipid-Lowering Agents. Additionally, the government has been investing in the healthcare sector, which has resulted in an improvement in the availability of healthcare services. However, the country's political situation and lack of transparency have resulted in a challenging business environment, which has limited foreign investment and hindered the development of the local pharmaceutical industry.
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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