ALBANY, New York, March 19, 2020 /PRNewswire/ -- Growing health burden of cardiovascular diseases worldwide particularly mortality coronary artery diseases stimulate drug makers to increase their stakes in cholesterol lowering drugs market. A new Transparency Market Research (TMR) study estimated the worth of the market to be ~US$ 29 bn in 2018.
Growing number of new drugs, particularly PCSK9 inhibitors and nicotinic acid, has helped the global healthcare industry target patients who are high risk of cardiovascular events such as hypercholesterolemia. In coming years, clinical trials involving PCSK9 inhibitors will invigorate the drug pipelines. All these will propel the market clock a CAGR of ~3% during 2019–2027.
Analysts at TMR opine that though statins witness wide acceptance in patients for lowering cholesterol, given the side effects healthcare companies need to move cautiously. Hence, players are stressing on the high safety profile of statins combined with Ezetimibe or PCSK9 inhibitors to reduce LDL-C, and to boost drug tolerance in patients.
Read Detailed TOC of the Report - https://www.transparencymarketresearch.com/report-toc/28142
Key Takeaways in Cholesterol Lowering Drugs Market Study
- Of all drug classes, statins and combination segment held the major share in 2018; the segment expected to continue retain its lead through 2027
- Among the key drug classes, PCSK9 inhibitors to grow at promising rate year-over-year from 2019 to 2027; new approvals key to growth
- Of the various indications, hypercholesterolemia was the leasing segment in 2018; however, coronary artery diseases expected to attract more investments among drug makers
- Among the various distribution channels, retail pharmacies accounted for the major revenue in 2018; patients' preference attribute the segmental growth
- Regionally, North America led the market in 2018; it is likely to contribute the dominant share, attributed mainly to rising prescription of cholesterol lowering drugs
- Asia Pacific to witness a remarkably high growth during 2019 – 2027; large patient pool key to its evolution
Explore 196 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Cholesterol Lowering Drugs Market (Drug Class: Statins & Combination, PCSK9 Inhibitors, Bile Acid Sequestrants, Fibrates, Cholesterol Absorption Inhibitors, and Others; Indication: Hypercholesterolemia, Coronary Artery Disease, and Higher Triglycerides; and Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027. https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=28142
Cholesterol Lowering Drugs Market: Key Driving Factors and Avenues
The high risk of heart diseases is evident in the marked prevalence of cardiovascular diseases (CVD), which is a key driver for development of cholesterol lowering drugs pipeline. Some of the statistics that help the epidemiology of CVD are:
- Per an estimation by the WHO, CVD is leading cause of death globally with an estimated 17.7 million deaths in 2015.
- 1 in every 4 deaths is caused by CVD in the U.S.
- The markedly high prevalence of coronary artery diseases is one of the foremost drivers of the cholesterol lowering drugs market
- According to CDC, 18.2 million adults with age 20 years or more have coronary artery diseases; the prevalence of the disease is expected to rise with aging. Cholesterol lowering drugs occupy vital part in the management of cardiovascular events in patients.
- The prevalence of LDL cholesterol in patient population has also been a steady factor.
Cholesterol Lowering Drugs Market: Region-wise Analysis
On the regional front, Asia Pacific is brimming with massive opportunities. This is due to the presence of vast patient pool. Further, the growing awareness of mortality arising out of bad cholesterol in the regional populations also bolster the prospects of cholesterol-lowering drugs. People with lifestyle-driven heart diseases has also risen, boosting the awareness. Further, rapidly aging populations in some of the countries also will contribute revenue stream to numerous global drug manufacturers.
Analyze cholesterol lowering drugs market growth in 30+ countries including US, Canada, Germany, United Kingdom, ASEAN Countries, Japan, India, China, and Japan. Request a sample of the study.
Cholesterol Lowering Drugs Market Competition Landscape
Players in the cholesterol lowering drugs market are striving to develop alternatives to statins. Manufacturers are bolstering production capabilities to and harnessing the potential in bempedoic acid to unveil better drug formulations. Top players are leaning on obtaining approvals for bempedoic-induced drugs in Europe. In coming years, they will be focusing on unveiling oral cholesterol lowering drugs with better tolerability.
Some of the drug companies looking to strengthen their stakes in the cholesterol lowering drugs market are Amgen Inc., Merck & Co., Inc., Novartis AG, GlaxoSmithKline plc, and Sanofi. These players are leaning on research and development of drugs approvals that can target specific indications. To this end, they are entering into partnerships and deals.
The cholesterol lowering drugs market is segmented on the basis of:
- Cholesterol Lowering Drugs Market, by Drug Class
- Statins & Combination
- PCSK9 Inhibitors
- Bile Acid Sequestrants
- Cholesterol Absorption Inhibitors
- Cholesterol Lowering Drugs Market, by Indication
- Coronary Artery Disease
- Higher Triglycerides
- Cholesterol Lowering Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Cholesterol Lowering Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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