Digital Transformation Is Anticipated To Open Up New Avenues For The Antihyperlipidemic Drugs Market11/22/2023 The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Antihyperlipidemic drugs, also known as lipid-lowering agents or hypolipidemic drugs, are medications that are used to lower lipids like cholesterol and triglycerides in the blood when dietary adjustments and exercise interventions fail to control the levels of lipids. They help in managing conditions like atherosclerosis, heart disease, strokes caused due to accumulation of lipids in blood vessels. Statins are one of the most commonly used antihyperlipidemic drugs which work by inhibiting an enzyme called HMG-CoA reductase that is involved in producing cholesterol in the liver. Market Dynamics: Growing prevalence of cardiovascular diseases and increasing obesity rates globally are expected to drive the antihyperlipidemic drugs market growth over the forecast period. According to the World Health Organization, cardiovascular diseases are the number one cause of death globally, taking an estimate of over 17.9 million lives each year. High cholesterol increases the risk of heart attacks and strokes significantly. Additionally, rising adoption of sedentary lifestyles, binge eating habits, and unhealthy diets have resulted in a surge in obesity rates which in turn elevate blood lipid levels, propelling the demand for antihyperlipidemic drugs. Furthermore, growing geriatric population also plays a vital role as aging issues like weakening arteries and damaged endothelial cells increase the risk of developing cardiovascular disorders requiring lipid-lowering medications. Segment Analysis The global antihyperlipidemic drugs market is dominanted by statins segment owing to high efficacy and affordability of statin drugs such as atorvastatin, simvastatin, and rosuvastatin in lowering LDL cholesterol levels. Statins account for over 70% of the global antihyperlipidemic drugs market and they are the first line of treatment for managing cholesterol levels. PEST Analysis Political: Government initiatives to spread awareness about risks associated with high cholesterol and funding for R&D of novel antihyperlipidemic drugs are driving the market growth. Economic: Rising healthcare spending and growing middle class population with discretionary income are increasing demand for cholesterol lowering drugs in emerging nations. Social: Growing sedentary lifestyle and consumption of cholesterol rich diets have increased prevalence of hyperlipidemia worldwide influencing the market positively. Technological: Advancements in drug delivery systems and development of fixed dose combinations are enhancing patient compliance and convenience of antihyperlipidemic treatment. Key Takeaways The Global Antihyperlipidemic Drugs Market Growth is expected to witness high, exhibiting CAGR of 7.5% over the forecast period, due to increasing prevalence of cardiovascular diseases worldwide. North America dominated the global market in 2023 due to high healthcare spending and prescription drug utilization in the region. The Asia Pacific region is expected to be the fastest growing market during the forecast period attributed to rising geriatric population, growing obesity, and increasing healthcare expenditure in China and India. 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. Reddyâ€TMs Laboratories Ltd., Bristol-Myers Squibb Company, AstraZeneca plc, and Daiichi Sankyo Company, Limited, among others. Regional analysis The Asia Pacific region is projected to grow at the fastest rate during the forecast period majorly driven by increasing diabetes and cardiovascular disease prevalence, expanding patient pool of dyslipidemia, and improving access to healthcare in China and India. China represented over 25% of the Asia Pacific antihyperlipidemic drugs market share in 2023 owing to high treatment seeking population and focus of global key players to tap opportunities in the country. 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. Reddyâ€TMs Laboratories Ltd., Bristol-Myers Squibb Company, AstraZeneca plc, and Daiichi Sankyo Company, Limited, among others. Read More - https://www.newsanalyticspro.com/antihyperlipidemic-drugs-market-share-growth-analysis-demand-and-size-forecast/
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