Lipid-Lowering Agents - South Africa

South Africa

The revenue in the Lipid-Lowering Agents market in South Africa is estimated to reach €21.73m in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of -0.33%, leading to a market volume of €21.37m by 2029.
When compared globally, United States is expected to generate the highest revenue of €4,137.00m in 2024.
In South Africa, there is a growing demand for lipid-lowering agents as the prevalence of cardiovascular diseases continues to rise.

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

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Analyst Opinion

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

Customer preferences: Patients in South Africa are increasingly becoming health-conscious and are taking proactive steps to prevent lifestyle diseases. As a result, there has been a growing demand for Lipid-Lowering Agents, which are used to manage cholesterol levels in the body. Patients are also becoming more aware of the benefits of Lipid-Lowering Agents and are willing to use them as a preventative measure.

Trends in the market: There has been a significant increase in the number of people in South Africa who are suffering from lifestyle diseases such as obesity, hypertension, and diabetes. These diseases are often accompanied by high cholesterol levels, which has led to an increase in the demand for Lipid-Lowering Agents. Additionally, the South African government has been implementing policies aimed at reducing the prevalence of these diseases, which has also contributed to the growth of the Lipid-Lowering Agents market.

Local special circumstances: South Africa has a high prevalence of lifestyle diseases, which has led to an increase in demand for Lipid-Lowering Agents. Additionally, the country has a large population of elderly people who are more susceptible to cardiovascular diseases. The South African government has also been implementing policies aimed at reducing the prevalence of lifestyle diseases, which has created a favorable environment for the growth of the Lipid-Lowering Agents market.

Underlying macroeconomic factors: South Africa has a growing middle class, which has led to an increase in disposable income. This has made it possible for more people to afford Lipid-Lowering Agents. Additionally, the country has a well-developed healthcare system, which has made it easier for patients to access Lipid-Lowering Agents. The South African government has also been investing in the healthcare sector, which has contributed to the growth of the Lipid-Lowering Agents 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.