Albany - NY, Aug. 17, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Dyslipidemia Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023" the global dyslipidemia drugs market was valued at USD 17.9 billion in 2014 and is estimated to reach a market worth of USD 6.9 billion in 2023 growing at a CAGR of -10.3% from 2015 to 2023.
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The report on global dyslipidemia drugs market studies a wide range of dyslipidemia drugs that are used for the treatment and mitigation of lipid disorders. Dyslipidemia is characterized by elevation of plasma triglycerides, decreased high-density lipoprotein levels, and abnormal level of low density lipoprotein composition. Burden of dyslipidemia is high across the world in terms of mortality, morbidity, and health care expenditure and imposes substantial costs to the health care system globally. For example, The American Heart Association (AHA) stated that as of 2013, around 98.9 million people in the U.S. (aged 20 and above) have high blood cholesterol level (more than 200 mg/dL), among which approximately 31.9 million people have total blood cholesterol level of 240 mg/dL or higher. Due to this fact, the demand for dyslipidemia drugs such as statins, fibric acid derivatives, omega-3 fatty acid analogs and bile acid resins are increasing among the patient population for the treatment of this disease. Thus, increasing incidence and demand for dyslipidemia drugs will stimulate the market growth globally. However, loss of patent exclusivity coupled with negative clinical results of existing dyslipidemia drugs such as niacins will restrain the overall market growth.
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Statins accounted for the largest drugs segment in 2014 and is expected to dominate the market during the study period. The growth of this market is majorly attributed to the availability or high sale of blockbuster drugs such as Lipitor and Crestor. Moreover, bile acid resins recorded around 2.9% share of total dyslipidemia drugs market in 2014 and is expected to lose the market share during the forecast period 2015 - 2023 due to the fact that this drug class offers low efficacy as compared to other commercially available dyslipidemia drugs. However, fibric acid drugs and omega-3 fatty acid derivatives will witness the least decline in the market growth. Positive clinical studies coupled with increasing preference of patients to use omega-3 fatty acid derivatives stimulates the growth of the segment.
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Geographically, global dyslipidemia drugs market is studied for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for the largest market share and is expected to dominate the market during the forecast period from 2015 to 2023. Rising prevalence rate coupled with presence of one or more branded dyslipidemia formulations augments the growth of North America dyslipidemia market. However, European regions are witnessing the highest growth rate compared to other regions owing to increasing health care awareness about the treatment and management of dyslipidemia.
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The major players of dyslipidemia drugs market include Pfizer, Inc., AstraZeneca plc, Amgen, Inc., Bayer AG, Merck & Co., Inc., Mylan N.V., Novartis AG, Takeda Pharmaceutical Company Limited and others. These players are investing very huge amount in research and development activities to develop high efficacy dyslipidemia drugs, aiming to enhance their market share in the global dyslipidemia drugs market. For example, Sanofi, in collaboration with Regeneron Pharmaceuticals, Inc. was actively engaged in developing new dyslipidemia drug class molecule Praluent, PCSK9 inhibitor. In July 2015, U.S. Food and Drug Administration (US FDA) approved Sanofi's PCSK9 inhibitor, Praluent, indicated for the treatment of hypercholesterolemia.
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The global dyslipidemia drugs market is segmented as follows:
Global Dyslipidemia Drugs Market, by Drug Class
- Bile Acid Resins
- Fibric acid and Omega-3 Fatty acid Derivatives
- Others (Combination Drugs and Cholesterol Absorption Inhibitors)
Global Dyslipidemia Drugs Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research