Published On: Oct 07, 2016
The global dyslipidemia drugs market is cumulatively dominated by some of the key companies including AstraZeneca plc., Pfizer, Inc., Abbott Laboratories, Merck & Co., Inc., and Daiichi Sankyo Company, Limited. In 2014, AstraZeneca plc., Merck & Co., Inc., and Pfizer, Inc. collectively accounted for a massive 74.4% of the global dyslipidemia drugs market. The exclusiveness in the rights of all blockbuster drugs is one of the primary factors propelling the global dyslipidemia drugs market. Transparency Market Research (TMR), in its new report, states that the global dyslipidemia drugs market is experiencing a decline since past few years. Although the global dyslipidemia drugs market is registering a decline, it is expected to display a recovery in the years to come. This is because of the rising occurrence of obese people owing to poor dietary habits, changing lifestyles, and the lack of exercises.
The global dyslipidemia drugs market is anticipated to reach US$6.88 bn by 2023. By drug class, the global dyslipidemia drugs market was dominated by statins segment in the recent past. Going forward, the statins segment is predicted to reach US$10,590.7 mn by 2023.
Europe to Experience Loss in Revenue owing to Patient’s Rising Spending Power
Based on region, the global dyslipidemia drugs market was led by North America in 2014. The North America dyslipidemia drugs market is predicted to reach US$3,045.6 by 2023. The increasing cases of diabetes, specifically type 2 diabetes is predicted to present many growth opportunities in the North America region. However, Europe is experiencing a loss of revenue owing to the rising spending power of the patients. Suitable reimbursement policies and the rising capacity of people to afford dyslipidemia drugs are predicted to keep the losses in check. Although Europe has faced losses in the recent past, favorable government policies will help this region to remain steady in the next few years.
Rising Population with Cholesterol to Benefit Global Market
The number of people diagnosed with cholesterol is increasing at a considerable rate. Also, the prevalence of triglyceride abnormalities is increasing across the globe owing to the changes in lifestyles. The rise in diabetic and obese population is also predicted to rise the incidence of dyslipidemia, which is expected to propel the global dyslipidemia drugs market. Key companies operating in the global dyslipidemia drugs market are focusing on investing in research and development activities to discover new drugs for dyslipidemia. The awareness about dyslipidemia is increasing across the globe. All these factors are predicted to contribute towards the growth of the global dyslipidemia drugs market.
Patent Expiration to Restrict Market Growth
The rising patent expiration and the loss of exclusivity are predicted to be the biggest challenge for the key companies operating in the global dyslipidemia drugs market. At present, the market is led by a few brands across various dyslipidemia drug classes. The rising number of blockbuster patent expiration is expected to badly affect the companies. Patent expiration is predicted to give rise to generic drugs in the global market. The discontinuation of new drug compounds including torcetrapib and dalcetrapib has also affected the sales of dyslipidemia drugs.
Rising Awareness in Emerging Nations to Propel Global Demand
The awareness of new dyslipidemia drugs is increasing in the developing nations, which is expected to expand the global demand.
This information is based on the findings of a report published by Transparency Market Research titled “Dyslipidemia Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015–2023.”
The global dyslipidemia drugs market is segmented as follows:
Global Dyslipidemia Drugs Market, by Drug Class
- Bile Acid Resins
- Fibric Acid and Omega-3 Fatty Acid Derivatives
- Others (Combination Drugs and Cholesterol Absorption Inhibitors)
Global Dyslipidemia Drugs Market, by Geography
- North America
- Latin America
- Middle East and Africa (MEA)
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