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.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Fibrate Drugs Market

Pre Book