Lipid-Lowering Agents - Uganda

Uganda

The Lipid-Lowering Agents market in Uganda is anticipated to achieve a revenue of US$1.90m by the year 2024.
It is expected that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 0.00%, leading to a market volume of US$1.90m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$4,461.00m in 2024.
Despite limited access to healthcare, the demand for lipid-lowering agents in Uganda is steadily increasing due to rising awareness about cardiovascular diseases.

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

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Analyst Opinion

Lipid-lowering agents, also known as cholesterol-lowering drugs, are used to lower the levels of cholesterol in the blood. In Uganda, the market for lipid-lowering agents has been steadily growing over the past few years.

Customer preferences: The majority of Ugandans prefer to use generic drugs due to their affordability. This has led to an increase in the demand for generic lipid-lowering agents. However, some patients still prefer to use branded drugs due to their perceived higher quality.

Trends in the market: The increasing prevalence of cardiovascular diseases in Uganda has led to an increase in the demand for lipid-lowering agents. Additionally, the government's efforts to increase access to healthcare services have also contributed to the growth of the market. The market has also seen an increase in the availability of new lipid-lowering agents.

Local special circumstances: The lack of awareness about cardiovascular diseases and their risk factors among the general population has been a major challenge in Uganda. This has led to a delay in the diagnosis and treatment of these diseases. Additionally, the lack of adequate healthcare infrastructure in rural areas has made it difficult for patients in these areas to access lipid-lowering agents.

Underlying macroeconomic factors: The Ugandan economy has been growing steadily over the past few years, which has led to an increase in the disposable income of the population. This has contributed to the growth of the lipid-lowering agents market as patients are now able to afford these drugs. Additionally, the government's efforts to improve the healthcare sector have also contributed to 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.