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Fibrate drugs are a class of medication used to lower the levels of cholesterol and triglycerides in the blood. High levels of cholesterol and triglycerides in the blood leads to atherosclerotic arteries, which blocks or slows the oxygenated blood flow to other parts of the body. Fibrate drugs lower the triglycerides levels in blood by two methods: reducing the triglycerides production in the liver and increasing the rate of removal of excess of triglycerides from bloodstream. The most commonly prescribed fibrate drugs include gemfibrozil and fenofibrate. 

The global fibrate drugs market is projected to be driven by high prevalence and rise in incidence rate of cardiovascular diseases across the world. According to the World Health Organization (WHO), cardiac disorders account for around 17.9 million deaths (31% of all deaths) across the world each year. Moreover, large obese population in developed countries, changing demographics, and adoption of western life style are the key factors driving the global fibrate drugs market. According to the WHO, in 2016, over 1.9 billion people above 18 years were overweight; of these around 650 million were obese. Hence, large obese population across the globe and high prevalence of chronic disorders such as diabetes, obstructive sleep apnea, and sleep disordered breathing are projected to drive the global fibrate drugs market during the forecast period. 

The global fibrate drugs market can be segmented based on drug type, distribution channel, and region. In terms of drug type, the global fibrate drugs market can be classified into clofibrate, fenofibrates, fenofibric acids, and gemfibrozil. Fenobirates drugs reduce the levels of triglycerides and cholesterol in the blood. These are most commonly used to treat patients with high cholesterol and triglycerides to minimize the risk of atherosclerosis. The fenofibrate segment is projected to account for largest market share by 2026 owing to easy availability and high adoption in both developed as well as developing regions. Gemfibrozil is also used to lower the risk of heart attack, stroke, and other heart complications associated with high levels of cholesterol and triglycerides. The gemfibrozil segment is projected to expand at the highest CAGR during the forecast period. In terms of end-user, the global fibrate drugs market can be divided into hospitals pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment is anticipated to account for major market share by 2026. 

Geographically, the global fibrate drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the global fibrate drugs market owing to high awareness about cardiac disorders, well-established health care facilities, and one of the highest rates of cardiac disorders in the region. Europe is anticipated to account for the second largest fibrate drugs market share by 2026. The fibrate drugs market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. This is primarily attributed to large patient population with cardiac disorders in countries such as China and India, increase in lifestyle related disorders, and rapidly changing health care infrastructure in the region. High prevalence of obesity in GCC Countries, significant health care expenditure, and well-established health care infrastructure in the Middle East are likely to drive the fibrates drugs market in the Middle East during the forecast period.

The global fibrate drugs market is highly fragmented, with large number of manufacturers holding significant share in respective regions. Key players operating in the global fibrate drugs market include Teva Pharmaceutical Industries, Pfizer, Inc., Mylan N.V., Sanofi SA, Novartis AG, GlaxoSmithKline plc, Sun Pharmaceutical Industries, Inc., Macleods Pharmaceuticals Limited, Aurobindo Pharma, and Abbott.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fibrate Drugs Market

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