Lipid-Lowering Agents - Russia

Russia

The Lipid-Lowering Agents market in Russia is expected to witness a substantial growth in revenue.
By 2024, the projected revenue is estimated to reach US$50.10m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of -0.67%, resulting in a market volume of US$48.45m by 2029.
When compared globally, it is noteworthy that United States is anticipated to generate the highest revenue in the Lipid-Lowering Agents market, with US$4,461.00m in 2024.
Russian physicians are increasingly prescribing lipid-lowering agents as a result of the rising prevalence of cardiovascular diseases in the country.

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

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Currency

Analyst Opinion

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

Customer preferences: The increase in the number of people suffering from cardiovascular diseases has led to a surge in the demand for Lipid-Lowering Agents in Russia. The preference for these agents has increased as they are considered effective in reducing the risk of heart attacks and strokes. Additionally, the aging population in Russia has also contributed to the growth of the market.

Trends in the market: The market for Lipid-Lowering Agents in Russia is expected to continue to grow in the coming years. The trend towards healthier lifestyles and the increasing awareness of the benefits of these agents is expected to fuel the demand further. The shift towards a more sedentary lifestyle and unhealthy eating habits has led to an increase in the number of people suffering from high cholesterol levels, which is expected to drive the market growth.

Local special circumstances: Russia has a high incidence of cardiovascular diseases, which has led to the government's focus on preventing and treating these diseases. The government has implemented various initiatives to promote healthy lifestyles and increase awareness of the benefits of Lipid-Lowering Agents. Additionally, the government has also introduced policies to make these agents more accessible to the population.

Underlying macroeconomic factors: The Russian economy has been recovering in recent years, which has led to an increase in the disposable income of the population. This has enabled more people to afford Lipid-Lowering Agents, contributing to the growth of the market. The government's focus on the healthcare sector has also led to increased investment in the industry, which is expected to further drive the growth of the 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.