Lipid-Lowering Agents - Zimbabwe

Zimbabwe

The revenue generated in Zimbabwe's Lipid-Lowering Agents market is projected to reach US$0.40m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -1.55%, resulting in a market volume of US$0.37m by 2029.
In global comparison, United States will generate the highest revenue with US$4,461.00m in 2024.
In Zimbabwe, there has been a growing demand for lipid-lowering agents due to an increasing prevalence of cardiovascular diseases in the population.

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

Market

Region

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Currency

Analyst Opinion

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

Customer preferences: Zimbabwe has a growing population of aging individuals who are at a higher risk of developing cardiovascular diseases, which has led to an increase in demand for Lipid-Lowering Agents. Additionally, the rising prevalence of obesity and unhealthy lifestyles has contributed to the growth of the market.

Trends in the market: The Lipid-Lowering Agents market in Zimbabwe is dominated by generic drugs due to their affordability. The market is also witnessing a shift towards combination therapies that offer greater efficacy in lowering cholesterol levels. Furthermore, there is a growing trend towards the use of non-statin therapies, such as PCSK9 inhibitors, which have been shown to be effective in reducing cholesterol levels in patients who cannot tolerate statins.

Local special circumstances: Zimbabwe's healthcare system has been facing numerous challenges, including a shortage of healthcare professionals, inadequate infrastructure, and limited access to essential medicines. However, the government has been implementing various initiatives to improve the healthcare system, including increasing funding for healthcare and training more healthcare professionals. These initiatives have contributed to the growth of the Lipid-Lowering Agents market in Zimbabwe.

Underlying macroeconomic factors: Zimbabwe's economy has been facing numerous challenges in recent years, including high inflation rates and currency instability. These factors have contributed to the high cost of imported medicines, making it difficult for patients to access essential medicines. However, the government has been implementing various measures to stabilize the economy, including introducing a new currency and implementing economic reforms. These measures are expected to improve the affordability and accessibility of Lipid-Lowering Agents in Zimbabwe.

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.