Presence of guidelines recommending the use of statins, rise in prevalence of hyperlipidemia across the globe, and surge in healthcare expenditure have boosted the global antihyperlipidemic drug market.
Allied Market Research recently published a report, titled, “Antihyperlipidemic Drugs Market by Drug Class (Statins, PCSK9 Inhibitors, Bile Acid Sequestrants, Cholesterol Absorption Inhibitors, Fibric Acid Derivatives, and Combination): Global Opportunity Analysis and Industry Forecast, 2019–2026″. According to the report, the global antihyperlipidemic drug industry was pegged at $9.46 billion in 2019 and is projected to reach $16.86 billion by 2026, registering a CAGR of 7.5% from 2019 to 2026.
Incentives for market growth
Presence of guidelines recommending the use of statins, rise in prevalence of hyperlipidemia across the globe, and surge in healthcare expenditure have boosted the global antihyperlipidemic drug market. However, upcoming patent expiration of drugs hampers the market growth. On the contrary, high growth potential in developing economies is expected to create lucrative opportunities in the near future.
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Statins segment dominated the market
The statins segment held the largest share in 2018, contributing to nearly two-fifths of the market, owing to surge in the incidence of cardiovascular disorders and its ability to reduce the risk associated with heart attacks. However, the PCSK9 inhibitors segment is projected to register the fastest CAGR of 9.7% during the forecast period, owing to benefits offered such as drastic reduction of LDL levels in the blood.
North America region held the largest share
The market across North America held the largest share in 2018, accounted for nearly one-third of the market, owing easy availability of the antihyperlipidemic drugs and sedentary lifestyle in the region. On the contrary, Asia-Pacific region is expected to register the fastest CAGR of 8.6% from 2019 to 2026, owing to surge in awareness related to the use of antihyperlipidemic drugs and surge in the healthcare expenditure.
Major market player
- Boehringer Ingelheim GmbH
- Merck KGaA
- Johnson and Johnson
- Bayer AG
- Pfizer, Inc.
- Takeda Pharmaceutical Co., Ltd.
- AstraZeneca plc
- Daiichi Sankyo Company
- Sanofi S.A.
- Novartis International AG
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Scope of The Report:
|Market size available for years||2018-2026|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||By Drug Class and By Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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