Dyslipidemia Drugs Market growing due to Importance of Asset Management in Industry
Dyslipidemia is a chronic metabolic disease, characterized by abnormal amount of low density lipoprotein, high density lipoprotein and triglyceride levels. Abnormal lipid level is also one of the major risk factor for the cardiovascular diseases such as atherosclerosis, hypertension and others. The range of therapeutics which includes statins, bile acid resins, cholesterol absorption inhibitors, fibric acid derivatives, omega-3 fatty acid derivatives and niacins are used for the treatment and mitigation of dyslipidemia disorder. Additionally, combination therapies such as statin and fibric acid analogs, ezetimibe and statins (Vytorin), niacins and statins (Advicor) and others are also used for effective treatment of dyslipidemia. Increasing incidences of dyslipidemia in developed (i.e. North America and Europe) and developing (i.e. Asia Pacific and Latin America) regions coupled with rising number of prescription for drugs such as statins and fibric acid derivatives drives the dyslipidemia drugs market growth. However, increase in the number of year on year patent expirations of blockbuster drugs such as Lipitor, Vytorin, Zetia and Crestor is expected to hamper the growth of dyslipidemia drugs market. This market was valued at USD 17,858.3 million in 2014 and is projected to contract at a CAGR of -10.3% from 2015 to 2023 to reach USD 6,888.9 million by 2023.
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The global dyslipidemia drugs market is categorized into different drug classes such as statins, bile acid resins, fibric acid and omega-3 fatty acid derivatives, niacins and others (cholesterol absorption inhibitors and combination drugs). Statins accounted for the largest market, captured almost 59.3% share of total dyslipidemia drugs market in 2014. High efficacy of statin drugs coupled with increasing acceptance of blockbuster statin drugs such as Lipitor and Crestor helped statin drugs to record highest share in 2014. However, niacins market is expected to grow with lowest CAGR as compared to other dyslipidemia drugs owing to decrease in sale of Abbott Laboratories’ brand drug Niaspan which will negatively affect the overall growth of the market.
Global dyslipidemia drugs market, by geography is segmented as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2014, North America dominated the global dyslipidemia drugs market. Positive government approval policies coupled with consistent rise in the incidence of dyslipidemia in the region stimulates the growth of dyslipidemia drugs market in North America. Europe accounted for the second largest share i.e. around 25% of the total market in 2014 owing to the favorable growth conditions for pharmaceutical manufacturers due to affordability for branded formulations by consumers. Germany recorded the largest market in 2014 and is expected to dominate the European dyslipidemia drugs market during the study period. High prevalence rate coupled with rising demand for dyslipidemia drug therapy in Germany boosted the growth of the market.
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Some of the prominent players in the global dyslipidemia drugs market are Pfizer, Inc., GlaxoSmithKline, Novartis AG, AstraZeneca plc, Daiichi Sankyo Company Limited, Merck & Co., Inc., Amgen, Inc., Abbott Laboratories, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Bristol Myers Squibb Company, Bayer Healthcare and others.
Table of Content
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Dyslipidemia Drugs Market, by Drug Class
Chapter 5 Dyslipidemia Drugs Market, by Geography
Chapter 6 Recommendations
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