Global dyslipidemia drugs market is expected to witness lucrative growth over the forecast period owing to growing prevalence of lipid associated disorders and cholesterol abnormalities. These include triglyceride abnormalities and inability of the body to metabolize fats and biomolecular high lipid content. Increasing global geriatric population which is more prone to cardiovascular disorders is also one of the key drivers for market growth due to the presence of lipid metabolism co-morbidities. Cholesterol associated disorders ultimately lead to coronary diseases and heart failure if not treated. According to CDC, heart failure is one of the leading causes of death worldwide. Hence, there is a need for innovation in treatment of disease progression at its earliest and thereby check mortality rates. Other significant factors that are expected to drive the dyslipidemia drugs market are upcoming biotechnological products such as monoclonal antibodies for treatment of lipid disorders, diseases inducing lifestyle habits such as high salt intake, tobacco smoking and chewing, high intake of cholesterol, and weight gain which lead to rise in level of high density lipoprotein and low density lipoprotein. However, high capital requirement for biotechnology-based R&D drug development is expected to restrain market growth to some extent
Dyslipidemia drugs market is segmented on the basis of product types into bile acid resins or bile acid sequesterants, statins, fibric acid derivatives, niacin, and cholesterol absorption inhibitors. Statins held the largest share of this market with respect to revenue generated in 2014 owing to the widespread usage and prescription of statins for reduction in the symptoms associated with cardiovascular diseases. Bile acid resins segment is further segmented into cholestyramine, colesevelam, cholybar, and colestipol. Dyslipidemia drugs market is expected to witness significant growth over the forecast period owing to presence of pipeline drugs that are under clinical trial phases of development. Many drugs that are under trials are being tested to be used for the treatment of hypercholesterolemia and other cholesterol associated metabolism disorders in specific patient populations. Under development drugs are expected to offer advantages over the present drugs including higher safety, efficacy and better tolerance by the metabolizing organ.
Geographically, the dyslipidemia drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America held a significant share of the market in dyslipidemia treatment market in 2014. Asia Pacific is expected to register the fastest growth over the forecast period. Factors attributing towards the growth of the region include biotechnological developments and improvement in health care infrastructure. Rise in incidence rates of diabetes and obesity are expected to boost the segment growth over the forecast period as these lead to growth of dyslipidemic disorders. Unhealthy lifestyle conditions such as stress and high cholesterol intake in the developing economies are anticipated to impact market growth positively over the forecast period. Government initiatives in order to increase disease awareness levels amongst populations are also expected to drive growth of the market in this region. Research paradigms undertaken by the international players to treat dyslipidemia and other disorders using multiple therapy regimens and combination pharmaceuticals are also expected to impact growth of dyslipidemia drugs market positively over the forecast period.
Some of the prominent players in the market are Abbott Laboratories, Pfizer, Inc., Novartis AG, Merck & Co., Inc., Amgen, Inc., Mylan N.V., and Astra Zeneca Plc and the market is highly competitive in nature. Market strategies of the competitors include development of new drug molecules by utilizing biotechnological advancements. Development of combination drugs that can be used for the prognosis of cardiovascular disorders as well as dyslipidemia are expected to fuel growth of market in the coming seven years. Loss of patent exclusivity of the generic drugs that are used for treatment of triglyceride metabolism disorders is expected to impact the growth positively, as there are a number of companies involved in development of novel molecules. dyslipidemia drugs Market players are also involved in expansion of market reach in emerging nations. They are also engaged in strategic collaborations with diagnostic laboratories to increase awareness about disease diagnosis and prognosis to further enhance their market positions.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.
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