Cholesterol Lowering Drugs Market to be worth US$ 37.7 bn by 2027
Companies Harness Benefits of Bempedoic Acid to Gain FDA Approval for NDAs
Manufacturers in the cholesterol lowering drugs market are increasing research activities to include bempedoic acid for the development of new drugs. For instance, in May 2019, Esperion - a U.S. pharmaceutical company, announced the FDA approval for new drug applications (NDAs) involving the bempedoic acid.
Companies are harnessing the advantages of bempedoic acid to treat a host of health conditions such as hypercholesterolemia and to treat patients with high cardiovascular risks. As such, the hypercholesterolemia indication segment of the cholesterol lowering drugs market is projected to reach a value of ~US$ 19.6 Bn by 2027. Hence, healthcare providers in the market for cholesterol lowering drugs are recommending the intake of bempedoic acid with statins to lower complications of LDL (Low-density Lipoproteins) associated with hypercholesterolemia.
Growing awareness about bad cholesterol is one of the key drivers that is triggering the growth of the cholesterol lowering drugs market. Companies are referring investigational studies to understand which drugs are well-tolerated in patients and make improvements according to the results.
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Precision Medicines Encourage Decline of LDL-C Levels in Hyperchoesterolaemia Patients
In order to improve cardiovascular risk assessment, companies are increasingly adopting the ‘personalized’ approach to achieve better outcomes in patients. This trend has led to the concept of precision medicine in the market for cholesterol lowering drugs. The coronary artery disease indication segment of the cholesterol lowering drugs market is estimated to reach a value of ~US$ 14.9 Bn by 2027. Hence, manufacturers are increasing clinical trials that show promising outcomes of PCSK9 inhibitor monoclonal antibodies for the treatment of coronary artery diseases.
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Companies in the cholesterol lowering drugs market are increasing their production capacities to manufacture Evolocumab used by high-risk patients. They are also tapping into opportunities to manufacture Canakinumbab, an effective antibody that leads to significant decline in cardiovascular events. Manufacturers are developing improved PCSK9 inhibitors to treat hyperchoesterolaemia. They are focusing on secondary prevention statins to lower LDL-C in patients. Improved outcomes associated with CPSK9 inhibitors are translating into revenue sources for companies in the market for cholesterol lowering drugs.
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Strategic Licensing Agreements Help Manufacturers Market Cholesterol Lowering Drugs in Europe
Various clinical trials have concluded that bile acid biosynthesis helps in reverse cholesterol transport (RCT). In a research published in MDPI, an open access publishing platform for scholarly research studies, reveals that RCT helps in reducing cholesterol via its conversion into bile acids in patients. On the other hand, companies are entering into licensing agreements to bolster their credibility credentials in the global cholesterol lowering drugs market. For instance, in January 2019, global pharmaceutical company Daiichi Sankyo Europe announced its European licensing agreement with Esperion, to market bempedoic acid and Ezetimibe combination tablet for cholesterol patients.
Strategic agreements are helping manufacturers to expand their cardiovascular portfolio, since cholesterol increases risks of coronary heart diseases. Companies are eyeing business expansions in the U.K. and Switzerland. Patients are increasingly benefitting from the advantages of bempedoic-induced drugs, as novel drug help to reduce fatty acid synthesis in liver.
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Bempedoic-induced Drugs Reduce Incidence of Side Effects of Statins
Statins & combination drug class segment of the cholesterol lowering drugs market is expected to reach a value of ~US$ 19.8 Bn by 2021. However, side effects associated with statins, such as muscle pain and undesired reactions with other medicines, act as a barrier for its adoption by patients. Hence, manufacturers are introducing new class of oral cholesterol lowering drugs that are well tolerated in patients.
Improved drug formulations in new oral drugs are being used as an alternative to statins. Manufacturers in the cholesterol lowering drugs market are increasing production capabilities to include bempedoic acid in new drug formulations. They are increasing efforts to obtain approvals for bempedoic-induced drugs in Europe.
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Moreover, companies in the market for cholesterol lowering drugs are increasing research activities to develop drugs using bempedoic acid to reduce incidences of heart attack and stroke in patients. High prevalence of LDL cholesterol is another driver fueling the demand for cholesterol lowering drugs.
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