Generic drugs are the fastest growing segment fueling the growth of Antihyperlipidemic Drugs Market

 

 Antihyperlipidemic Drugs Market 

Market Overview: 

The global Antihyperlipidemic Drugs Market is estimated to be valued at US$ 13.6 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Antihyperlipidemic drugs are commonly known as lipid lowering drugs or statins which reduce cholesterol and triglyceride levels in the blood. These drugs are mainly used to treat high cholesterol levels and associated conditions like atherosclerosis, angina etc. The drugs work by inhibiting an enzyme called HMG-CoA reductase which is crucial for cholesterol synthesis in the liver.

 

Market key trends:

One of the major trends witnessed in the antihyperlipidemic drugs market is the rising dominance of generic drugs. Currently, generic drugs account for over 80% of the overall drugs used for lowering lipids. Their significantly lower costs compared to branded counterparts has made them an attractive option for patients. Various blockbuster statins have come off patent in recent years allowing other companies to manufacture affordable generic versions. This has paved way for greater accessibility and adoption of anti-cholesterol medications globally.

Segment Analysis

The global antihyperlipidemic drugs market is broadly segmented into statins, non-statins, and combination therapies. Statins currently dominate the market as these are the most commonly prescribed medications to lower LDL cholesterol. Statins such as atorvastatin, rosuvastatin, and simvastatin account for over 50% of the antihyperlipidemic drugs market share due to their effectiveness and availability in generic forms.

 

Key Takeaways

The Global Antihyperlipidemic Drugs Market Size is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing prevalence of cardiovascular diseases and rising obesity rates.

 

Regional analysis

North America currently dominates the antihyperlipidemic drugs market, accounting for over 40% share, due to high awareness levels about hyperlipidemia and its treatment options. Asia Pacific is expected to witness the fastest growth due to growing medical infrastructure and increasing healthcare spending in emerging countries such as China and India.

 

Key players

Key players operating in the antihyperlipidemic drugs market are Sanofi S.A., Pfizer Inc., Mylan N.V, Amgen Inc., Abbvie Inc., Merck & Co., Inc., Dr. Reddys Laboratories Ltd., Bristol-Myers Squibb Company, AstraZeneca plc, and Daiichi Sankyo Company, Limited, among others. Sanofi S.A. and Pfizer Inc. collectively dominate the market with their statin drug offerings such as Lipitor and Lipicure.

Read More Insights Here

https://www.newsstatix.com/antihyperlipidemic-drugs-market-share-size-forecast-outlook-2023-2030/

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