The global dyslipidemia market is anticipated to witness a decline of -10.3%. CAGR between 2015 and 2023. The negative growth rate is a result of the expiration of blockbuster drugs that have allowed the introduction of several generic drugs, available at cheaper prices than branded drugs. Owing to this reason, the global market is expected to reach a valuation of US$6.88 bn by 2023 as compared to US$17.85 bn in 2014. However, the market also has several opportunities to gain from and reach a positive growth rate in the near future. For instance, the high prevalence of obesity due to poor dietary habits, lack of exercise, and changing lifestyles are expected to present a wide range growth opportunities for the overall market in the near future.
Diabetes and Obesity Give a New Lease of Life to Dyslipidemia Drugs Market
The rising cases of diabetes, especially the growing number of type 2 diabetics, have presented the global dyslipidemia market with a lucrative opportunity. Research indicates that diabetics are likely to suffer from lipid abnormalities that will lead to a higher uptake of dyslipidemia drugs in the near future. In a bid to solve the health issues of an exponentially growing patient pool, several companies are investing in intensive research and development in strengthening their pipelines and discovering newer treatment options. Furthermore, commercialization of new classes of drugs will also provide this market a push in the upward direction.
Europe Experiences Minimal Loss in Revenues due to Higher Spending Power of Patients
The Europe dyslipidemia drugs market is expected to witness a relatively low decline (at a CAGR of -9.9%) over the forecast period of 2015 and 2023. The losses in this regional market will be mitigated by the high incidence of dyslipidemia here. Furthermore, the ability of patients to afford dyslipidemia drugs and supportive reimbursement policies are also expected to keep losses in this market in check to some degree.
Favorable government policies are also expected to help the Europe dyslipidemia market in the near future. Rising healthcare expenditure by dyslipidemia patients in countries such as Germany, France, and the U.K. are also anticipated to create a lucrative growth for sustained growth of the market in the coming years. By the end of forecast period, the Europe dyslipidemia drugs market will reach US$1,802.8 mn by 2023.
Fibric Acid and Omega-3 Fatty Acid Derivatives Segment Leads Overall Market
Amongst the various type of drug classes, the fibric acid and omega-3 fatty acid derivatives segment will witness the least decline at a -1.6% CAGR between 2015 and 2023. A growing number of prescriptions for drugs such as Epanova, Vascespa, and Lovaza will be the primary reason why this segment will be able to mitigate its loss. The government approvals for fibric acid and omega-3 fatty acid derivatives class of drugs have also bolstered the demand for dyslipidemia drugs in recent years. The report suggests that Fenofibrate drugs are the popularly prescribed fibric acid and omega-3 fatty acid derived drugs to patients with dyslipidemia.
However, the future of this segment is on unsteady ground as these major drugs are expected to lose their patents. For instance, fenofibrate-containing drugs such as Trilipix, Antara, Tricor, and others will gradually lose importance to generic drugs.
Some of the leading players identified in this market are AstraZeneca plc., Merck & Co., Inc., Pfizer, Inc., Daiichi Sankyo Company, Limited, and Abbott Laboratories. The companies will continue to hold a strong presence due to their brand value and extensive goodwill in the market. Analysts state that new entrants must establish their foothold in the emerging market to profit from the large patient pool in developing countries of China and India and lower manufacturing costs.
Global Dyslipidemia Drugs Market: Overview
With a sudden rise in the expiration of blockbuster drugs, the global market for dyslipidemia is expected to take a deep plunge in the near future. The subsequent launch of a large number of generic drugs, available at a much cheaper rate than their branded counterparts is likely to worsen the matter further. The market, which is witnessing a negative CAGR of -10.30% during the period for 2015 and 2023, is anticipated to plummet from US$17.8 bn in 2014 to US$6.8 bn by the end of 2023.
Although there is a significant dip forthcoming, the market has a number of opportunities to gain from and attain a positive growth rate in the years to come. For example, the increasing prevalence of obesity on account of the frequently changing lifestyles, lack of exercise, and poor dietary habits, are expected to offer lucrative opportunities for the growth of this market over the next few years.
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Global Dyslipidemia Drugs Market: Trends and Opportunities
The global market for dyslipidemia drugs is projected to gain substantially from the high incidence rate of abnormalities related to cholesterol and triglyceride in the years to come. The rising prevalence of diabetics, serious cardiovascular condition, is also anticipated to boost this market over the next few years since high lipoprotein deformities, such as hypertriglyceridemia and reduced plasma HDL cholesterol are common among people suffering from type 2 diabetes and the treatment of these conditions needs therapies, such as statins and various other combination drug therapies.
Apart from this, several factors, such as continual research and development regarding the improvement in the existing drug therapies, together with discovering novel ones, are likely to present a leverage to the overall market over the forthcoming years. The availability of a robust pipeline and the increasing commercialization of various drugs are also predicted to create lucrative opportunities for the global dyslipidemia drugs market in the near future.
Global Dyslipidemia Drugs Market: Regional Outlook
Europe, Latin America, the Middle East and Africa, Asia Pacific, and North America are the key regional markets for dyslipidemia drugs across the world. Among these, Europe is expected to experience a relatively low dip in the near future at a CAGR of -9.90% between 2015 and 2023. The decline in this regional market is likely to be mitigated by the high prevalence rate of dyslipidemia here. Moreover, the increasing capability of consumers to afford these drugs and the presence of favorable reimbursement policies are also projected to keep this regional market ahead of others in the near future.
The Europe market for dyslipidemia drugs is further expected to gain remarkably from the rising disposable income of consumers, enabling them to spend on expensive treatments in countries, such as France, Germany, and the U.K. in the years to come. Other regional markets, on the other hand, are projected to remain plummeting over the forthcoming years.
Companies Mentioned in the Report
Abbott Laboratories, Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Shionogi & Co. Ltd., Pfizer Inc., Merck & Co. Inc., Novartis AG, Mylan N.V., Bristol-Myers Squibb Co., Bayer AG, Amgen Inc., and AstraZeneca Plc. are the key companies involved in the production of dyslipidemia drugs across the world.
Key Segments of the Supercritical Boilers Market
By Drug Class
- Bile Acid Resins
- Fibric acid and Omega-3 Fatty acid Derivatives
- Others (Combination Drugs and Cholesterol Absorption Inhibitors)
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments