Lipid-Lowering Agents - Ukraine

Ukraine

In Ukraine, the revenue in the Lipid-Lowering Agents market is predicted to reach US$4.23m by 2024.
It is anticipated that the market will exhibit a compound annual growth rate (CAGR 2024-2029) of 0.24%, leading to a market volume of US$4.28m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$4,461.00m in 2024.
In Ukraine, there is a growing demand for lipid-lowering agents due to an increasing awareness of cardiovascular health.

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

Market

Region

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Currency

Analyst Opinion

The demand for Lipid-Lowering Agents in Ukraine has been on the rise in recent years.

Customer preferences: Ukrainian customers have been increasingly aware of the importance of maintaining a healthy lifestyle. This has led to a rise in demand for drugs that can help lower cholesterol levels in the body. Moreover, the aging population in Ukraine has also contributed to the growth of the Lipid-Lowering Agents market.

Trends in the market: One of the key trends in the Lipid-Lowering Agents market in Ukraine is the growing popularity of generic drugs. Generic drugs are cheaper than branded drugs and are becoming increasingly popular among Ukrainian customers who are price-sensitive. Another trend is the increasing use of combination therapies. Combination therapies are more effective than single drug therapies in lowering cholesterol levels in the body. This has led to an increase in demand for combination therapies in Ukraine.

Local special circumstances: The political instability in Ukraine has had a significant impact on the healthcare system in the country. The healthcare system in Ukraine is underfunded and lacks resources. This has led to a shortage of drugs in the market. Moreover, corruption is also a major problem in the healthcare system, which has led to a lack of trust among the population. These factors have contributed to the rise in demand for generic drugs in the Lipid-Lowering Agents market in Ukraine.

Underlying macroeconomic factors: The Ukrainian economy has been struggling in recent years. The country has been facing political instability, which has led to a decline in foreign investment. Moreover, the ongoing conflict with Russia has also had a negative impact on the economy. The Ukrainian currency has depreciated significantly, which has led to an increase in the cost of imported drugs. This has made it difficult for Ukrainian customers to afford branded drugs, which has led to a rise in demand for generic drugs.

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.