- According to Transparency Market Research’s latest report on the dyslipidemia drugs market for the historical period 2017–2018 and forecast period 2019–2027, increasing prevalence of population with cholesterol and triglyceride abnormalities is anticipated to drive the global dyslipidemia drugs market
- 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
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Global increasing prevalence of population with cholesterol and triglyceride abnormalities expected to propel the market: A Key Driver
- Prevalence of cholesterol and triglyceride abnormalities is expected to increase exponentially across the world due to change in lifestyle and various factors such as obesity, lack of exercise, and poor dietary habits.
- According to various government and private organizations operating in the cholesterol drugs industry, prevalence of dyslipidemia is rapidly increasing across the globe and is considered one of the serious cardiovascular conditions.
- The Centers for Disease Control and Prevention (CDC) stated that 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.
- 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.
Discontinuation of novel dyslipidemia drugs to Hamper Market
- Discontinuation of under-development drug compounds such as dalcetrapib and Saroglitazar has hindered the growth of the market.
- For example, in March 2017, Zydus Discovery DMCC suspended its study for safety and efficacy of Saroglitazar Magnesium in patients with dyslipidemias due to recruitment issues.
- In May 2012, F. Hoffmann-La Roche Ltd. presented an update on phase III study of dalcetrapib (dal-OUTCOMES Phase III trial) to the independent Data and Safety Monitoring Board (DSMB). However, DSMB recommended discontinuation of the clinical trial due to the lack of clinical efficacy of the drug.
- Thus, these discontinuations of dyslipidemia drugs hamper the growth of the market.
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Global Dyslipidemia Drugs Market: Competitive Landscape
- This report profiles major players in the global dyslipidemia drugs market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- Leading players operating in the global dyslipidemia drugs market are
- Shionogi & Co., Ltd.
- Pfizer, Inc.
- Merck & Co., Inc.
- Novartis AG
- Bayer AG
- Bristol-Myers Squibb Company
- Mylan N.V.
- Amgen, Inc.
- AstraZeneca plc
- Abbott Laboratories.
Global Dyslipidemia Drugs Market: Key Developments
Key players in the global dyslipidemia drugs market are engaged in launch of new drugs for the treatment of dyslipidemia, and partnerships & collaborative agreements with other companies. These strategies of key players are likely to fuel the growth of the global dyslipidemia drugs market. A few expansion strategies adopted by players operating in the dyslipidemia drugs market are:
- In November 2019, Novartis entered into an agreement to acquire The Medicines Company. He deal was valued at US$ 9.7 Bn. This acquisition is expected to expand the Novartis’s product portfolio. The acquisition adds the inclisiran drug to Novartis drug portfolio. Inclisiran is a potentially transformational investigational cholesterol-lowering therapy to address leading global cause of death.
- In November 2019, Rentokil Initial plc acquired Florida Pest Control. It is a high quality service provider for residential and commercial customers. The purpose of this acquisition to acquire pest control businesses that build customer density and add to Rentokil Initial plc’s scale in key local markets.
- In May 2019, Esperion announced that U.S. Food and Drug Administration (USFDA) has accepted the company’s New Drug Applications (NDAs) for bempedoic acid. bempedoic acid is a ATP citrate lyase (ACL) inhibitor that reduces cholesterol and fatty acid synthesis in the liver.
- In June 2017, Regeneron and Sanofi announced positive results from its Praluent (alirocumab) drug in hypercholesterolemia. The results shown the drug was superior to usual care in reducing non-high-density lipoprotein cholesterol (non-HDL-C) and also significantly reduced low-density lipoprotein cholesterol (LDL-C).
- In August 2015, The U.S. Food and Drug Administration (USFDA) approved Amgen’s Repatha (evolocumab) drug for patients with hereditary forms of high cholesterol and those with cardiovascular disease.
The report on the global dyslipidemia drugs market discussed individual strategies, followed by company profiles of providers of dyslipidemia drugs market. The ‘competitive landscape’ section has been included in the dyslipidemia drugs market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global dyslipidemia drugs market.
TMR’s report on the global dyslipidemia drugs market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the market during the forecast period from 2019 to 2027. The report provides revenue of the global dyslipidemia drugs market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global dyslipidemia drugs market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global dyslipidemia drugs market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, companies’ presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global dyslipidemia drugs market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global dyslipidemia drugs market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global dyslipidemia drugs market.
The report delves into the competitive landscape of the global dyslipidemia drugs market. Key players operating in the global dyslipidemia drugs market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global dyslipidemia drugs market that have been profiled in this report.
Key Questions Answered in Dyslipidemia Drugs Market Report
- What is the scope of growth of companies in the dyslipidemia drugs market?
- What will be the Y-o-Y growth of the dyslipidemia drugs market between 2019 and 2027?
- What is the influence of changing trends in drug research and development on the global dyslipidemia drugs market?
- Will North America continue to remain the most profitable regional market for dyslipidemia drugs providers?
- Which factors are anticipated to impede the growth of the global dyslipidemia drugs market during the forecast period?
- Which are the leading companies in the global dyslipidemia drugs market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global dyslipidemia drugs market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global n dyslipidemia drugs market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the dyslipidemia drugs market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the dyslipidemia drugs market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global dyslipidemia drugs market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global dyslipidemia drugs market more reliably and accurately.
Regional Segmentation of Dyslipidemia Drugs Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Dyslipidemia Drugs Market - Segmentation
Bile Acid Resins
Fibric Acid and Omega-3 Fatty Acid Derivatives
Middle East & Africa