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:
Antihyperlipidemic drugs help in lowering lipid levels in the blood and preventing heart attacks and strokes by reducing cardiovascular disease risk. These drugs act by reducing cholesterol synthesis or absorption in the gut or by increasing cholesterol catabolism and excretion.
Market key trends:
One of the key trends in the antihyperlipidemic drugs market is the emergence of PCSK9 inhibitor drugs. PCSK9 (proprotein convertase subtilisin/kexin type 9) inhibitors such as alirocumab (Praluent) and evolocumab (Repatha) bind to and inhibit PCSK9 proteins in the body. By inhibiting PCSK9, these drugs prevent it from binding to liver cell surface LDL receptors and thereby allow more LDL receptors to recycle back to the liver cell surface to remove more LDL-C from the bloodstream. As a result, blood cholesterol levels are significantly reduced.
SWOT Analysis
Strength: Antihyperlipidemic drugs have well-established efficacy and safety profiles for treating hyperlipidemia. They are available in various drug classes like statins, non-statins, fibrates etc. allowing doctor to choose appropriate treatment based on patient’s condition and comorbidities.
Weakness: Long term use of some antihyperlipidemic drugs can cause muscle pain and weakness as side effects. Additionally, factors like high development cost, stringent regulatory guidelines and patent expiries of blockbuster drugs increase pricing pressure on manufacturers.
Opportunity: Increasing sedentary lifestyles and consumption of junk food has led to rising prevalence of hyperlipidemia worldwide. Growing geriatric population prone to cardiovascular ailments also raises demand for lipid lowering drugs. Also, combination therapy approaches offer new opportunities.
Threats: Alternative treatment approaches like plant-based therapies, dietary modifications and lifestyle changes pose competition. Additionally, the COVID-19 pandemic impacted both production and sales of various drug makers in 2020.
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 hyperlipidemia and cardiovascular diseases. As per WHO, hyperlipidemia affects over 39% of adults worldwide.
Regional analysis: North America dominates the global antihyperlipidemic drugs market currently owing to advanced healthcare infrastructure and growing obese population. However, Asia Pacific is expected to witness fastest growth due to rising medical expenditures, growing health awareness and increasing generic consumption in populous nations like China and India.
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. These companies are focusing on new product launches, geographical expansion and acquisitions to gain higher market shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
