The demand for Lipid-Lowering Agents in Uzbekistan has been on the rise in recent years.
Customer preferences: The increase in demand for Lipid-Lowering Agents in Uzbekistan can be attributed to the growing awareness among the population about the importance of maintaining healthy cholesterol levels. With the rise in the prevalence of cardiovascular diseases, people are becoming more conscious of their health and are seeking medication to control their cholesterol levels.
Trends in the market: The Lipid-Lowering Agents market in Uzbekistan is witnessing a shift towards generic drugs due to their affordability. The government has been promoting the use of generic drugs to reduce the burden on the healthcare system and make medication more accessible to the general population. This has resulted in increased competition among pharmaceutical companies, leading to a decrease in the prices of branded drugs as well.
Local special circumstances: Uzbekistan has a relatively young population, with a median age of 28 years. This demographic trend is expected to continue in the coming years, which will result in an increase in the demand for Lipid-Lowering Agents. The government has been investing in healthcare infrastructure to cater to the growing needs of the population.
Underlying macroeconomic factors: The Uzbek economy has been growing steadily in recent years, with a focus on diversifying the economy away from its heavy reliance on cotton and natural gas. The government has been implementing various economic reforms to attract foreign investment and boost economic growth. This has resulted in an increase in disposable income and improved access to healthcare, which has contributed to the growth of the Lipid-Lowering Agents market in Uzbekistan.
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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