Antihyperlipidemic Drugs Market Expected to Cross $16 Billion by 2026
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “Antihyperlipidemic Drugs Market by Drug Class: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global antihyperlipidemic drugs market was valued at $9,456 million in 2018, and is expected to reach $16,865 million by 2026, registering a CAGR of 7.5% from 2019 to 2026.
The rise in level of lipids in the blood is called as hyperlipidemia. The drugs that are used to treat the condition are called antihyperlipidemic drugs. Furthermore, there are major complications associated with this condition such as heart attack. Therefore, the condition requires early monitoring and treatment. Some of the antihyperlipidemic drugs available in the market include statins, bile acid sequestrants, cholesterol, and others.
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Sedentary lifestyle is a major factor that contributes to the growth of antihyperlipidemic drugs market. Moreover, surge in incidence of disorders related to distributed cholesterol levels in the blood also contributes to the growth of the antihyperlipidemic drugs market. Moreover, surge in awareness regarding complications related with hyperlipidemia is another major factor that fuels the growth of the market. However, high cost of the treatment is expected to hinder the market growth. Conversely, growth opportunities exhibited by emerging economies is anticipated to offer lucrative opportunities during the forecast period.
The antihyperlipidemic drugs market size is studied based on segments, drug class, and region to provide a detailed assessment of the market. Based on drug class, the market is divided into statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, fibric acid derivatives, and combination. Based on region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
According to drug class, statins occupied the largest antihyperlipidemic drugs market share in 2018, owing to surge in the incidence of cardiovascular disorders. Furthermore, statins reduce the risk associated with heart attacks, which is another major factor that contributes to the growth of the market. Moreover, PCSK9 inhibitors segment is expected to register the fastest growth during the forecast period, owing to the benefits offered such as drastic reduction of LDL levels in the blood. The other factors that boost the growth of the market include the surge in the geriatric population and rise in healthcare expenditure across the globe. In addition, the other factors which boost the growth of the market include the additional benefits offered by the statins such as improved endothelial function, enhance the stability of atherosclerotic plaques, and reduce the amount of inflammation & damage done to cells due to oxidative stress.
In 2018, North America accounted for the major share of antihyperlipidemic drugs market size, and is expected to remain dominant during the forecast period, owing to easy availability of the antihyperlipidemic drugs. Moreover, surge in the sedentary lifestyle is another major factor that contributes to the growth of the market. Furthermore, surge in the obese population is another major factor that fuels the growth of the antihyperlipidemic drugs market. In addition, the presence of major key players such as Abbvie Inc., Amgen Inc., Bristol-Myers Squibb Company, Merck & Co., Inc. and others is another major factor that fuels the growth of antihyperlipidemic drugs market in the region. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period, owing to surge in awareness related to the use of antihyperlipidemic drugs.
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The developing economies offer lucrative opportunities for antihyperlipidemic drugs providers to expand their business. The constantly evolving life science industry drives the growth of the market in the developing economies such as India, China, and others. Furthermore, this report entails a detailed quantitative analysis along with the current global antihyperlipidemic drugs market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
Key Findings of the Study:
Statins occupied one-third share of the global antihyperlipidemic drugs market in 2018.
The PCSK9 inhibitors segment is anticipated to grow with the highest CAGR throughout the forecast period.
The cholesterol absorption inhibitors segment accounted for more than one-fourth share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
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