ALBANY, New York, March 19, 2020
- R&D in PCSK9 monoclonal antibodies for prevention of cardiovascular diseases in high-risk patients strengthens revenue potential in cholesterol lowering drugs market
- Strategic agreements notably in Europe will help players bolster their cardiovascular portfolio; personalized approach to gain traction
ALBANY, New York, March 19, 2020 /PRNewswire/ -- Growing health burden of cardiovascular diseases worldwide particularly mortality coronary artery diseases stimulate drug makers to increase their stakes in cholesterol lowering drugs market. A new Transparency Market Research (TMR) study estimated the worth of the market to be ~US$ 29 bn in 2018.
Growing number of new drugs, particularly PCSK9 inhibitors and nicotinic acid, has helped the global healthcare industry target patients who are high risk of cardiovascular events such as hypercholesterolemia. In coming years, clinical trials involving PCSK9 inhibitors will invigorate the drug pipelines. All these will propel the market clock a CAGR of ~3% during 2019–2027.
Analysts at TMR opine that though statins witness wide acceptance in patients for lowering cholesterol, given the side effects healthcare companies need to move cautiously. Hence, players are stressing on the high safety profile of statins combined with Ezetimibe or PCSK9 inhibitors to reduce LDL-C, and to boost drug tolerance in patients.
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Key Takeaways in Cholesterol Lowering Drugs Market Study
Explore 196 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Cholesterol Lowering Drugs Market (Drug Class: Statins & Combination, PCSK9 Inhibitors, Bile Acid Sequestrants, Fibrates, Cholesterol Absorption Inhibitors, and Others; Indication: Hypercholesterolemia, Coronary Artery Disease, and Higher Triglycerides; and Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027. https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=28142
Cholesterol Lowering Drugs Market: Key Driving Factors and Avenues
The high risk of heart diseases is evident in the marked prevalence of cardiovascular diseases (CVD), which is a key driver for development of cholesterol lowering drugs pipeline. Some of the statistics that help the epidemiology of CVD are:
Cholesterol Lowering Drugs Market: Region-wise Analysis
On the regional front, Asia Pacific is brimming with massive opportunities. This is due to the presence of vast patient pool. Further, the growing awareness of mortality arising out of bad cholesterol in the regional populations also bolster the prospects of cholesterol-lowering drugs. People with lifestyle-driven heart diseases has also risen, boosting the awareness. Further, rapidly aging populations in some of the countries also will contribute revenue stream to numerous global drug manufacturers.
Analyze cholesterol lowering drugs market growth in 30+ countries including US, Canada, Germany, United Kingdom, ASEAN Countries, Japan, India, China, and Japan. Request a sample of the study.
Cholesterol Lowering Drugs Market Competition Landscape
Players in the cholesterol lowering drugs market are striving to develop alternatives to statins. Manufacturers are bolstering production capabilities to and harnessing the potential in bempedoic acid to unveil better drug formulations. Top players are leaning on obtaining approvals for bempedoic-induced drugs in Europe. In coming years, they will be focusing on unveiling oral cholesterol lowering drugs with better tolerability.
Some of the drug companies looking to strengthen their stakes in the cholesterol lowering drugs market are Amgen Inc., Merck & Co., Inc., Novartis AG, GlaxoSmithKline plc, and Sanofi. These players are leaning on research and development of drugs approvals that can target specific indications. To this end, they are entering into partnerships and deals.
The cholesterol lowering drugs market is segmented on the basis of:
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