Cholesterol Lowering Drugs Market
Cholesterol Lowering Drugs Market (Drug Class: Statins & Combination, PCSK9 Inhibitors, Bile Acid Sequestrants, Fibrates, Cholesterol Absorption Inhibitors, and Others; Indication: Hypercholesterolemia, Coronary Artery Disease, and Higher Triglycerides; and Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
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.
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.
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.
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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Top medical innovations in the cholesterol lowering drugs market primarily involve bempedoic acid in drug formulations. Apart from North America and Europe, manufacturers are leveraging opportunities in Asia Pacific, since governments of rapidly developing countries are increasingly investing toward the strengthening of their healthcare infrastructure.
Though statins are projected for widespread adoption in the coming years, its side effects are a major concern for healthcare companies. Hence, companies in the cholesterol lowering drugs market should increase awareness about the intake of statins with Ezetimibe or PCSK9 inhibitors to reduce LDL-C and boost drug tolerance in patients. They should increase production of PCSK9 inhibitors, since these drugs are anticipated to witness high adoption during the forecast period.
Cholesterol Lowering Drugs: Overview
- High cholesterol level increases the risk of heart diseases and heart attacks. Medications can help improve and maintain proper cholesterol levels in the human body.
- Cholesterol lowering medication includes statins, PCSK9 inhibitors, and cholesterol absorption inhibitors
- Statins are widely used cholesterol drugs and play an important role in treating elevated cholesterol level and atherosclerosis.
- Proprotein convertase subtilisin/kexin type 9 (PCSK9) is a new medication that decreases the low density lipoprotein cholesterol. It is approved for the treatment of atherosclerotic cardiovascular disease in patients who require reduction of LCL-C.
Cholesterol Lowering Drugs Market: Key Drivers
- Increase in prevalence of coronary artery disease due to the formation of bad cholesterol is a major factor responsible for the global market growth
- Prevalence of atherosclerosis, which is one of the main causes of coronary artery disease, is expected to increase in the near future, due to the rise in bad cholesterol. This is expected to boost the market growth.
- According to the CDC database, 2017, over 365,914 people died in the U.S. due to coronary artery disease. About 18.2 million adults aged 20 years and older have coronary artery disease (about 6.7%).
- Moreover, development of drug formulation for cholesterol lowering, new therapies such as emergence of PCSK9 inhibitors, and growing awareness about cardiovascular diseases are some of the major factors responsible for the growth of the cholesterol lowering drugs market
Cholesterol Lowering Drugs Market: Segmentation
- Based on drug class, the cholesterol lowering drugs market has been segmented into statins and combination, PCSK9 inhibitors, bile acid sequestrants, fibrates, cholesterol absorption inhibitors, and others
- In terms of indication, the cholesterol lowering drugs market has been divided into hypercholesterolemia, coronary artery disease, and higher triglycerides
- In terms of distribution channel, the cholesterol lowering drugs market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies
- Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights
- The report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2027, considering 2018 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2019 to 2027 along with market size estimations.
Cholesterol Lowering Drugs Market: Regional Overview
- In terms of region, the global cholesterol lowering drugs market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
- The current and future market sizes, in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2017 to 2027, with their CAGRs for the period from 2019 to 2027
- The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and the existing companies to increase their market shares, and help in their decision-making process
Major Players in Cholesterol Lowering Drugs Market
- The report concludes with the company profiles section that includes key information about major players in the market
- Key players analyzed in this report include
- Pfizer, Inc.
- GlaxoSmithKline plc
- Novartis AG
- Merck & Co., Inc.
- Amgen Inc.
- Takeda Pharmaceutical Company Limited
- Sun Pharmaceutical Industries Ltd.
- AbbVie, Inc.
- Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Cholesterol Lowering Drugs Market – Scope of the Report
TMR’S report on the global cholesterol lowering drugs market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period from 2019 to 2027. The report provides the overall market revenue of the cholesterol lowering drugs market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the cholesterol lowering drugs market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts, wherein, analysts carry out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the cholesterol lowering drugs market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approach to study various phenomena in the cholesterol lowering drugs market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the cholesterol lowering drugs market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the cholesterol lowering drugs market.
The report delves into the competitive landscape of the cholesterol lowering drugs market. Key players operating in the cholesterol lowering drugs market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the cholesterol lowering drugs market that have been profiled in this report.
Key Questions Answered in This Report on Cholesterol Lowering Drugs Market Report
- What is the sales/revenue generated by each drug class segment of the cholesterol lowering drugs market across all regions during the forecast period?
- What are the opportunities in the cholesterol lowering drugs market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is likely to expand at the fastest CAGR during the forecast period?
- Which cholesterol lowering drugs class, indication, and distribution channel segments are expected to generate maximum revenue globally in 2027? Which segment is projected to expand at the highest CAGR during the forecast period?
- What was the market share or position of different companies operating in the global market in 2018?
Cholesterol Lowering Drugs Market – Research Objectives and Research Approach
The comprehensive report on the cholesterol lowering drugs market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, pipeline analysis, key brand sales analysis, key merger & acquisition, and disease prevalence rate of different diseases and conditions.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into small sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the cholesterol lowering drugs market, in terms of drug class, indication, distribution channel, and region. Key segments under each criteria have been studied at length, and the market share for each of them at the end of 2027 has been provided herein. Such valuable insights enable market stakeholders in making informed business decisions for investment in the cholesterol lowering drugs market.
Cholesterol Lowering Drugs Market - Segmentation
TMR’s study on the cholesterol lowering drugs market includes information divided into four sections - by drug class, by indication, by distribution channel, and by region. Changing industry trends and other crucial market dynamics associated with these sections of the cholesterol lowering drugs market have been discussed in detail.
Statins & Combination
Bile Acid Sequestrants
Cholesterol Absorption Inhibitors
Coronary Artery Disease
Middle East & Africa