Hyperlipidemia refers to abnormal elevation of lipids and/or lipoprotein levels. Risks associated with this condition include stroke, peripheral vascular disease, atherosclerosis, diabetes, obesity, hypertension, and cardiovascular diseases. Drugs which are used to treat hyperlipidemia either accelerate the elimination of lipoproteins from the body or decrease production of lipoproteins. These drugs not only lower the unwanted cholesterol levels but are vital for lowering the risk of heart attacks or strokes. Primary causes of this disease include sedentary lifestyle, increase in alcohol consumption, and changes in dietary pattern. Additionally, increase in consumption of red meats, fried & processed foods, sugar, and rich foods increase blood cholesterol levels.
The global hyperlipidemia prescription drugs market is estimated to expand substantially due to rise in susceptibility to heart diseases associated with the aging population. Other factors such as patent expiration and availability of funding, undertaking of health awareness programs by health care centers, high incidence rate of cardiovascular diseases, and rising awareness among people about reducing the harmful cholesterol levels to control heart diseases are projected to drive the market during the forecast period. A large number of hyperlipidemia drugs are in phase III of clinical trials for their assessment in providing clinical benefits and long-term safety records.
The global hyperlipidemia prescription drugs market can be segmented based on drug class, end-user, and region. In terms of drug class, the hyperlipidemia prescription drugs market can be classified into HMG COA reductase inhibitors, fibric acid derivatives, nicotinic acids, bile acid sequestrating agents, cholesterol absorption inhibitors, and others. Based on end-user, the hyperlipidemia prescription drugs market can be categorized into hospitals and clinics. In terms of region, the global hyperlipidemia prescription drugs market can be divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The hyperlipidemia prescription drugs market in each region is sub-divided into specific countries such as the U.S., Canada, Germany, the U.K., Brazil, China, India, Japan, and GCC countries. North America dominates the global hyperlipidemia prescription drugs market, followed by Europe due to high prevalence of diseases associated with elevated levels of lipoproteins and growing baby boomer population. According to the Centers for Disease Control and Prevention (CDC), every year about 630,000 people succumb to heart diseases in the U.S. Annually 1,055,000 people in the U.S. are victims of heart attacks. Of these cases 720,000 are a first heart attack and 335,000 happen to people who have already had a first heart attack. Asia Pacific is estimated to be a highly attractive region of the market during the forecast period due to highly developed health care infrastructure, and higher adoption rate of technologically advanced therapeutic products. Additionally, rise in aging population and increase in awareness about heart disease are some factors fueling the hyperlipidemia prescription drugs market.
Key players operating in the global hyperlipidemia prescription drugs market include Amgen, Inc., Eli Lilly and Company, GlaxoSmithKline Pharmaceuticals Limited, Isis Pharmaceuticals, Inc., Merck & Co., Inc., Dr. Reddy\'s Laboratories Limited, Immuron Limited, Esperion Therapeutics, Inc., Pfizer, Inc., and Formac Pharmaceuticals N.V. Major players actively engage in various growth strategies such as collaborations, partnerships, agreements, and product launches to gain a competitive advantage in the market.
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
- 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.
3. Actionable Results
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.