Lipid-Lowering Agents - Zimbabwe | Statista Market Forecast

The revenue generated in Zimbabwe's Lipid-Lowering Agents market is projected to reach US$398.30k in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -1.70%, resulting in a market volume of US$365.70k by 2029.
In global comparison, United States will generate the highest revenue with US$4.46bn 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.

Definition:
The Lipid-Lowering Agents market covers drugs to treat hyperlipidemia or dyslipidemia. These metabolic disorders are characterized by high levels of lipids, such as fats, cholesterol, or triglycerides, or lipoproteins in the blood. Different drug classes are included: statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, as well as combinations thereof.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Merck & Co., AstraZeneca, Viatris

Anti-hyperlipidemics
Drugs to treat high levels of lipids in the blood
Cholesterol-lowering drugs

Anti-diabetes drugs
Drugs to treat other metabolic disorders
Dietary supplements

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.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.