May 20, 2024

Lipid-lowering Drugs Market Size to Rise USD 46.58 Bn by 2033

The global lipid-lowering drugs market size was estimated at USD 33.12 billion in 2023 and is p predicted to reach around USD 46.58 billion by 2033, growing at a CAGR of 3.47% from 2024 to 2033.

Key Points

  • North America led the lipid-lowering drugs market with the largest market size in 2023.
  • Asia Pacific is expected to witness the fastest growth in the market during the forecast period.
  • By drug class, the statins and combinations segment dominated the market with the highest market share in 2023.
  • By indication, the hypercholesterolemia segment projected the highest growth in the market in 2023.
  • By distribution channel, the retail pharmacies segment dominated the market with the largest share in 2023.

Lipid-lowering Drugs Market Size 2024 to 2033

The lipid-lowering drugs market comprises medications used to manage and reduce elevated levels of cholesterol and triglycerides in the blood, which are risk factors for cardiovascular diseases. This market includes various types of drugs such as statins, bile acid sequestrants, cholesterol absorption inhibitors, fibrates, and PCSK9 inhibitors, among others. These drugs are widely prescribed to treat hyperlipidemia and to prevent heart disease and stroke in patients with high cholesterol levels.

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Growth Factors:

The market for lipid-lowering drugs is driven by the rising prevalence of cardiovascular diseases, lifestyle-related disorders, and an aging population. Additionally, increasing awareness about the importance of cholesterol management and preventive healthcare measures contributes to the market’s growth. Technological advancements and new drug development, such as combination therapies, also play a role in expanding the market.

Region Insights:

The market is geographically diverse, with North America leading due to its high prevalence of cardiovascular diseases and well-established healthcare infrastructure. Europe also holds a significant market share due to its aging population and advanced healthcare system. The Asia-Pacific region is expected to witness substantial growth due to increasing awareness about health, rising disposable income, and improving healthcare infrastructure in countries like China and India.

Lipid-lowering Drugs Market Scope

Report Coverage Details
Global Market Size in 2023 USD 33.12 Billion
Global Market Size in 2024 USD 34.27 Billion
Global Market Size by 2033 USD 46.58 Billion
Growth Rate from 2024 to 2033 CAGR of 3.47%
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Drug, By Indication, and By Distribution Channel
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Lipid-lowering Drugs Market Dynamics

Drivers:

Key drivers for the lipid-lowering drugs market include a growing aging population, increasing rates of obesity and diabetes, and a greater emphasis on preventive healthcare. Additionally, the availability of generic versions of popular drugs and government initiatives to raise awareness about cholesterol management contribute to market growth.

Opportunities:

Opportunities in the market include the development of novel lipid-lowering drugs and combination therapies to improve patient outcomes. Personalized medicine approaches and precision treatments based on genetic profiles also present new avenues for growth. Furthermore, emerging markets in regions such as Latin America and the Middle East offer untapped potential for expansion.

Challenges:

Challenges in the market include the high cost of some drugs, particularly newer therapies like PCSK9 inhibitors, which may limit patient access. Additionally, side effects associated with certain medications can pose barriers to patient adherence. The presence of strong competition and the potential for generic drugs to impact brand-name drug sales may also present obstacles for market players.

Read Also: Enteral Feeding Formulas Market Size to Reach USD 12.51 Bn by 2033

Lipid-lowering Drugs Market Recent Developments

  • In April 2024, the Indian pharmaceutical industry announced to launch an innovative cholesterol-lowering injection that aims to help in decreasing the bad level of cholesterol of LDL in the blood and also decreases heart disease risks such as heart stroke and attacks.
  • In April 2024, researchers of the Department of Biological Sciences and Bioengineering at the Technology Kanpur (IITK) launched the latest information about how cholesterol-lowering drugs such as Niacin work on the molecular level.
  • In April 2024, Amarin (NASDAQ: AMRN) Corporation plc showcased two data presentations at ACC.24 which describe the impacts of VASCEPA ®/VAZKEPA ® on decreasing adverse cardiovascular events in patients with reduced lipoprotein level or baseline high and decreases the risks of cardiovascular diseases.
  • In January 2022, Acuitas Therapeutics came in collaboration with Pfizer Inc. The company is working on the development of lipid nanoparticle (LNP) delivery systems for introducing messenger RNA (mRNA)-based therapeutics.
  • In July 2023, Novartis announced that the US Food and Drug Administration (FDA) approved Leqvio® (inclisiran)’s label update for allowing the use in patients with the higher LDL-C which increases the risk of heart disease. This patient population consists of comorbidities such as diabetes and hypertension.

Lipid-lowering Drugs Market Companies

  • Sanofi
  • Pfizer, Inc.
  • GlaxoSmithKline plc
  • Novartis AG
  • Merck & Co., Inc.
  • Amgen Inc.
  • Takeda Pharmaceutical Company Limited
  • Sun Pharmaceutical Industries Ltd.
  • AbbVie, Inc.
  • Viatris (Mylan N.V.)
  • AstraZeneca PLC
  • Dr. Reddy’s Laboratories Ltd.

Segments Covered in the Report

By Drug

  • Statins & Combination
  • PCSK9 Inhibitors
  • Bile Acid Sequestrants
  • Fibrates
  • Cholesterol Absorption Inhibitors
  • Others

By Indication

  • Hypercholesterolemia
  • Coronary Artery Disease
  • High Triglycerides

By Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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