Dyslipidemia Drugs Market: Increasing prevalence of population with cholesterol and triglyceride abnormalities expected to propel the market
Transparency Market Research (TMR) has published a new report titled, “Dyslipidemia Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”. According to the report, the global dyslipidemia drugs market was valued at US$ 11.8 Bn in 2018 and is projected to expand at a CAGR of 3.5% from 2019 to 2027. Rising disease awareness through promotional activities, and increasing prevalence of population with cholesterol and triglyceride abnormalities to drive the global dyslipidemia drugs market from 2019 to 2027.
- North America market is the prime contributor to the dyslipidemia drugs market owing to favorable government approval policies coupled with increasing incidence of dyslipidemia in North American countries such as the U.S. and Canada.
- For instance, according to the Centers for Disease Control and Prevention (CDC), around 95 million adults in the U.S. (55% of the total population) have total cholesterol levels higher than 200 mg/dL as of 2016. Furthermore, an estimated 29 million adult in U.S. have total cholesterol levels higher than 240 mg/dL.
- The organization also stated that the prevalence of dyslipidemia is rapidly increasing among the patient population in the U.S. Additionally, rising obese and diabetic population in the U.S. and Canada further augments the dyslipidemia cases.
- Thus, the large population base suffering is expected to drive the global dyslipidemia drugs market during the forecast period.
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Rising disease awareness through promotional activities
- Several private and government organizations and key companies are actively engaged in increasing awareness about dyslipidemia through organizing various awareness campaigns or publishing guidelines for the same.
- For instance, the National Lipid Association introduced “National Lipid Association Recommendations for Patient-Centered Management of Dyslipidemia”, aiming to provide guidelines for dyslipidemia patients related to cholesterol lowering drug therapy.
- In October 2013, Pfizer, Inc. organized Dyslipidemia Awareness and Treatment program in collaboration with the International Atherosclerosis Society. The primary objective of this event was to improve treatment care for cardiovascular patients, particularly focused on dyslipidemia. These programs would increase awareness about dyslipidemia conditions among the patient population, leading to market growth.
Statins Segment to Dominate Market
- In terms of drug class, the global dyslipidemia drugs market has been bifurcated into statins, bile acid resins, fibric acid and omega-3 fatty acid derivatives, niacins, and others
- The statins segment is expected to dominate the global dyslipidemia drugs market during the forecast period due to the availability or high sale of blockbuster drugs such as Lipitor and Crestor.
- Additionally, positive clinical studies coupled with increasing preference of patients to use omega-3 fatty acid derivatives stimulates the growth of the fibric acid and omega-3 fatty acid derivatives segment.
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Retail Pharmacies to be Highly Attractive Segment
- In terms of distribution channel, the global dyslipidemia drugs market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies
- The retail pharmacies segment is likely to dominate the global dyslipidemia drugs market during the forecast period due to increase in the sales of dyslipidemia drugs through retail channels.
Asia Pacific Market to Expand Significantly
- In terms of revenue, North America is projected to dominate the global dyslipidemia drugs market from 2019 to 2027. The dominance of this region is majorly attributed to favorable government policies and rising prevalence of dyslipidemia.
- Europe is estimated to be the second most attractive market for the dyslipidemia drugs market during the forecast period. Growth in the region is attributed to the conducive environment for growth of pharmaceutical manufacturers due to consumer affordability for branded formulations.
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Competitive Landscape in Global Dyslipidemia Drugs Market
- The report also provides profiles of leading players operating in the global dyslipidemia drugs market. These include Shionogi & Co., Ltd., Pfizer, Inc., Merck & Co., Inc., Novartis AG, Bayer AG, Bristol-Myers Squibb Company, Mylan N.V., Amgen, Inc., AstraZeneca plc, and Abbott Laboratories.
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