Category : Healthcare and Pharmaceuticals | Published at : December-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for cholesterol lowering drugs is expected to grow at a CAGR of around 7.1% from 2020 to 2027 and expected to reach the market value of around US$ 27.5 Bn by 2027.
Cholesterol-Lowering Drugs, Hypolipidemic agents, or antihyperlipidemic agents are used for the treatment of high levels of fats (lipids), such as cholesterol, in the blood (hyperlipidemia). These are also known as lipid-lowering drugs. The high level of cholesterol leads to heart attacks, stroke, and may cause death from heart disease. According to a study held at Harvard, taking a statin cuts overall cardiovascular risk by 20% to nearly 50%. According to the Centers for Disease Control and Prevention (CDC) database of 2017, more than 365,914 people have died in the United States due to coronary artery disease, and about 18.2 million adults aged 20 years and older have coronary artery disease.
Market Dynamics
The growing awareness about bad cholesterol and investigational studies held by companies to understand which drugs are well-tolerated in patients to make improvements according to the results are the primary factors driving the market growth. The increasing research activities to include bempedoic acid for the development of new drugs, healthcare providers are recommending the intake of bempedoic acid with statins to lower complications of LDL (Low-density Lipoproteins) associated with hypercholesterolemia are bolstering the market growth. The companies are harnessing the advantages of bempedoic acid to treat a host of health conditions like hypercholesterolemia as well as to treat patients with high cardiovascular disease (CVD) risks are accelerating the market growth.
On the other side, severe side effects of statins causing rhabdomyolysis and availability of generic drugs of major leading brands are anticipated to hinder the growth during the forecast period.
Segment Instance
Some of the leading drugs under the statins and fixed-dose combination segment include crestor, lipitor, livalo, lescol/lescol XL, zocor, vytorin, caduet, and others. The cholesterol absorption inhibitors, ion exchange resins, and fibrates segment include zetia, welchol, tricor, and others. The PCSK9 Inhibitor segment includes praluent, repatha, RN316, and others. Additionally, the novel cholesterol-lowering drugs segment includes juxtapid, kynamro, MK-0859, and others.
Retail Pharmacies accounted for the major revenue share in the Cholesterol Lowering Drugs Market
Based on the distribution channel, retail pharmacies are the leading segment in terms of revenue and volume both as the people used to buy due to convenience. Additionally, people are more likely to buy the prescribed medication from a reliable and better access store. Moreover, online pharmacies are likely to experience the fastest growth throughout the forecast timeframe from 2020 to 2027. The increasing number of online stores coupled with the increasing number of online buyers, especially in developing economies is projected to create potential demand over the forecast period from the online pharmacies. The increasing number of startups, which are offerings discounts and delivering medicines to the consumers at the time, as well as offering cash on delivery feature which is creating reliability on online pharmacies, are some of the factors driving the segmental market growth.
Key Market Players
The players profiled in the report include AbbVie, Inc. (US), Amgen (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Novartis AG (Switzerland), Pfizer, Inc. (US), Sanofi (France), Sun Pharmaceutical Industries Ltd. (India), Takeda Pharmaceutical Company Limited (Japan), and others.
Market Segmentation
Market By Drug Class
Cholesterol Absorption Inhibitors
Fibrates
Fixed-Dose Combinations
Ion Exchange Resins
Novel Cholesterol-Lowering Drugs
PCSK9 Inhibitors
Statins
Market By Disease Type
Hypercholesterolemia
Cardiovascular Diseases
Hyperlipidemia
Market By Distribution Channel
Retail Pharmacies
Hospital Pharmacies
Online Pharmacies
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for cholesterol lowering drugs is expected to reach a market value of around US$ 27.5 Bn by 2027.
The cholesterol lowering drugs market is expected to grow at a CAGR of around 7.1% from 2020 to 2027.
Retail pharmacies is the leading segment by distribution channel in the cholesterol lowering drugs market
Online Pharmacies is expected to be the fastest growing segment by distribution channel in the cholesterol lowering drugs market.
The growing awareness about bad cholesterol and investigational studies held by companies to understand which drugs are well-tolerated in patients' and make improvements according to the results, increasing research activities to include bempedoic acid for the development of new drugs, and healthcare providers are recommending the intake of bempedoic acid with statins to lower complications of LDL (Low-density Lipoproteins) associated with hypercholesterolemia are some of the factors driving the market growth.
AbbVie, Inc. (US), Amgen (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Novartis AG (Switzerland), Pfizer, Inc. (US), Sanofi (France), Sun Pharmaceutical Industries Ltd. (India), Takeda Pharmaceutical Company Limited (Japan), and others are the prominent players in the market.
Asia Pacific is expected to be the fastest growing market over the forecast period.
