by Antihyperlipidemic drugs are prescribed to patients suffering from high cholesterol levels or hyperlipidemia. They help in lowering low-density lipoprotein or bad cholesterol levels in the blood and reducing the risk of cardiovascular diseases. Statins, fibrates, bile acid sequestrants, cholesteryl ester transfer protein inhibitors are some major antihyperlipidemic drug classes. Statins are the most widely used antihyperlipidemic drugs worldwide due to their efficacy and safety.
The global antihyperlipidemic drugs market is estimated to be valued at US$ 15.67 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
According to the Centers for Disease Control and Prevention (CDC), in 2019 around 92.4 million U.S. adults had high LDL cholesterol levels. Moreover, rising obese population globally is also influencing the market growth as obesity has strong correlation with hyperlipidemia. For instance, as per the 2021 obesity report by Organization for Economic Co-operation and Development (OECD), obesity rates in the U.S. and UK are over 30%. Growing geriatric population at high risk of hyperlipidemia is another factor fueling the market demand for antihyperlipidemic drugs. However, the presence of alternative treatment options like nutraceuticals and dietary interventions is expected to restrain the market to some extent.
SWOT Analysis
Strength: Antihyperlipidemic drugs help lower cholesterol and triglycerides which reduces the risk of cardiovascular diseases like heart attacks and strokes. Statins have proven efficacy and safety as first line treatment for lowering LDL cholesterol. Increasing awareness about importance of managing cholesterol levels is driving demand for antihyperlipidemic drugs.
Weakness: Statins are associated with potential side effects like muscle pain and weakness. This affects patient compliance in long term use. New drug development faces stringent regulations and high costs. Generic penetration poses pricing challenges once patents expire.
Opportunity: Growing obese and geriatric population prone to cardiovascular risks presents large market potential. Combination drug therapies offer scope to enhance efficacy and compliance. Emerging economies present scope for market expansion with increasing healthcare access and spending power.
Threats: Alternative treatment options like plant sterols, stanols and lifestyle changes threatens drug sales volumes over long run. Patent cliffs of blockbuster drugs impact pharmaceutical company revenues. Economic slowdowns especially due to Covid-19 pandemic impacts discretionary healthcare spending.
Key Takeaways
The Global Antihyperlipidemic Drugs Market Size is expected to witness high growth over the forecast period primarily driven by rising cardiovascular disease burden worldwide.
North America currently dominates the market owing to higher diagnosis and treatment rates for hyperlipidemia. However Asia Pacific region is expected grow at fastest pace supported by improving access to healthcare, rapidly aging populations, rising obesity prevalence and economic growth in major countries like China and India.
Key players operating in the antihyperlipidemic drugs market are Medtronic PLC, Sleepace, Evermind Inc., Awair Inc., and Eight Sleep. These companies are focused on new product launches, expanding regional presence especially in emerging markets through collaborations and partnerships. For instance Eight Sleep recently launched Pod Pro Cover mattress cover with increased temperature regulation features.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
