Statins and Fibrates for Dyslipidemia: Market to Grow to $15.53 Billion by 2032
Drug sales in the dyslipidemia market are expected to grow significantly between 2022 and 2032, with an overall compound annual growth rate (CAGR) of 10.8%. The total dyslipidemia market valued at $5.56 billion in 2022 is expected to reach $15.53 billion in 2032, across the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK, and Japan).
Dyslipidemia is a condition in which abnormal levels of lipids are present in the blood. Lipids are fats and oils essential for the body to function properly. There are several different types of lipids, including triglycerides, cholesterol, and phospholipids ().
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Dyslipidemia can cause various health problems, including heart disease and stroke. There are several drugs available to treat dyslipidemia. These drugs include statins that reduce the amount of cholesterol in the blood; fibrates that lower triglyceride levels; and ezetimibe for lowering the amount of cholesterol absorbed from food.
Dyslipidemia: Blockbuster Therapies are on the Horizon
However, these drugs are falling out of favor with physicians, and ezetimibe is not very effective in lowering lipids, particularly when used alone in statin-intolerant patients. Hence, the need for better dyslipidemia treatments was the need of the hour.In this growing dyslipidemia market, the US accounts for 78% of the global market with a market value of $12.06 billion. This could be due to the large prevalence of dyslipidemia in the US, as well as the higher overall price of drugs as compared to the 5EU and Japan.
Moreover, the US has more pipeline drugs entering the dyslipidemia market during the forecast period compared to other countries.
The several pipeline drugs include Akcea Therapeutics's pelacarsen sodium, Eli Lilly's muvalaplin, and CETP inhibitor obicetrapib being developed by NewAmsterdam Pharma. CETP inhibitors increase high-density lipoprotein (HDL) cholesterol and decrease triglyceride (TG) levels by inhibiting the transfer of cholesteryl esters from HDL to apolipoprotein B-containing lipoproteins ().
Arrowhead Pharmaceuticals is developing Angiopoietin-like protein 3 (ANGPTL3) inhibitors that target specific genes involved in lipid metabolism. The clinical trial results were looking promising.
Current and Future Prospectives of Dyslipidemia Market Growth
Apart from the developing drugs, the other factors influencing dyslipidemia market growth are the increasing global prevalence of dyslipidemia due to an increase in obesity, sedentary lifestyles, and unhealthy dietary habits. As the global population continues to age, the prevalence of dyslipidemia is likely to increase.Improved awareness about the health risks associated with dyslipidemia and increased efforts in screening and diagnosis are expected to lead to more people being diagnosed with the condition.
The barriers that will restrict the growth of the dyslipidemia market are the price of newly launched drugs for dyslipidemia and the restriction of access to highly-priced new therapies. The widespread use of cheap, generic drugs makes it difficult for high-priced branded therapies to penetrate the market.
Keeping these factors in mind, it is important to develop business strategies by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the dyslipidemia therapeutics market in the future.
Therefore, we need to formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the performance of various competitors. Identifying emerging players with potentially strong product portfolios and creating effective counter-strategies would gain a competitive advantage.
It is also important to organize the sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
References:
- A Modern Approach to Dyslipidemia - (https:academic.oup.com/edrv/article/43/4/611/6408399)
- Current Options and Future Perspectives in the Treatment of Dyslipidemia - (https:www.mdpi.com/2077-0383/11/16/4716)
Source: Medindia