February 25, 2024
Antihyperlipidemic Drugs Market

Increasing Prevalence Of Dyslipidemia To Fuel Growth Of The Antihyperlipidemic Drugs Market

The global Antihyperlipidemic Drugs Market is estimated to be valued at US$ 13.6 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The antihyperlipidemic drugs market comprises drugs used for lowering lipid levels, especially elevated low-density lipoprotein (LDL) cholesterol, in the blood. Some common antihyperlipidemic drugs include statins, bile acid sequestrants, fibric acid derivatives, omega-3 fatty acids, and PCSK9 inhibitors. Statins such as atorvastatin, simvastatin, and rosuvastatin are considered the first line of treatment for dyslipidemia as they are highly effective in reducing LDL-cholesterol. Bile acid sequestrants such as colesevelam and cholestyramine are used when statins alone are not sufficient to manage cholesterol levels. PCSK9 inhibitors like evolocumab and alirocumab are used as add-on therapy to statins for severe high cholesterol. The increasing prevalence of dyslipidemia and cardiovascular diseases worldwide has boosted the demand for antihyperlipidemic drugs in recent years.

Market key trends:

One of the key trends in the antihyperlipidemic drugs market is the increasing adoption of PCSK9 inhibitors. PCSK9 inhibitors are now considered an important part of the dyslipidemia treatment regimen by medical guidelines. Their addition to statin therapy is recommended for patients who cannot achieve LDL-cholesterol goals with statins alone or those who are statin intolerant. PCSK9 inhibitors like evolocumab and alirocumab have demonstrated strong efficacy in lowering LDL-cholesterol levels by around 60%. They offer an alternative for high-risk patients who require more intensive lipid lowering therapy. Growing adoption by clinicians is expected to drive the uptake of PCSK9 inhibitors globally in the forecast period. Another trend is the development of oral PCSK9 inhibitors over injectables to improve patient adherence. Oral options may offer greater convenience than monthly injections and support higher compliance to treatment.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the antihyperlipidemic drugs market is low due to stringent regulations, high R&D costs and patent protections.

Bargaining power of buyers: The bargaining power of buyers is high due to availability of generics and presence of many established players offering therapeutic alternatives.

Bargaining power of suppliers: Suppliers have moderate bargaining power owing to the availability of alternatives and lack of product differentiation.

Threat of new substitutes: The threat of substitutes is moderate with alternative treatment options and potential new drug classes in the pipeline.

Competitive rivalry: High due to presence of large number of global and local players offering a diversified product portfolio.

Key Takeaways

The Global Antihyperlipidemic Drugs Market Size is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing prevalence of cardiovascular diseases, obesity and cholesterol disorders worldwide.

Regional analysis: North America dominated the global market in 2022 and is expected to maintain its lead over the forecast period. However, Asia Pacific region is anticipated to grow at the fastest pace owing to rising healthcare expenditure, large patient pool and increasing awareness.

Key players operating in the antihyperlipidemic drugs market are Sanofi S.A., Pfizer Inc., Mylan N.V, Amgen Inc., Abbvie Inc., Merck & Co., Inc., Dr. Reddys Laboratories Ltd., Bristol-Myers Squibb Company, AstraZeneca plc, and Daiichi Sankyo Company, Limited, among others. Key players are focusing on expanding their product portfolios through collaborations and new product launches. For instance, Sanofi launched a new single pill antihyperlipidemic drug with two therapies in 2021.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it