The global hyperlipidemia drugs market size was estimated to be US$ 20.7 billion in 2021 and is expected grow at a CAGR of 2.7% between 2023 to 2032.
The abnormal elevation of lipids and/or lipoprotein levels in the blood is referred as Hyperlipidemia. It is highly prevalent especially in wealthy countries and this condition is on the rise in other countries also. Sedentary lifestyle, increase in alcohol consumption changes in dietary pattern are primary causes of this disease. Lifestyle choices like consumption of red meats, fried and processed foods, sugar and rich foods increase blood cholesterol levels are also major causes of hyperlipidemia. Hyperlipidemia can also cause other serious conditions such as stroke, peripheral vascular disease, atherosclerosis, diabetes, obesity, hypertension and cardiovascular diseases.
Hyperlipidemia also increases the risk of coronary artery disease (CAD) due to clogged arteries. However, Hyperlipidemia is very much treatable by drugs that accelerate the elimination of lipoproteins from the body or decrease lipoprotein production. These drugs also reduce unwanted cholesterol levels that are vital for lowering the risk of heart attacks or strokes. Therefore, the hyperlipidemia treatment market is predicted to grow globally during the forecast period.
The rising demand to treat high cholesterol increases the requirements of hyperlipidemia. Additionally, the demand for drugs to treat hyperlipidemia in the coming years will also rise due to surging of cardiovascular diseases due to persistent hypercholesterolemia which in turn will bolster the growth of the global Hyperlipidemia treatment market
Due to an increasing demand for new drugs for COVID-19 global pandemic and associated cardiovascular diseases, there is an increase in funding for medical research activities and the growth of the market is certain. The growing awareness among the doctors and patients regarding hyperlipidemia and increase in public and private healthcare expenditure has further bolstered the market growth.
According to the World Health Organization (WHO), the worldwide geriatric population, which was estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. As the persons age increases, the occurrence of cholesterol and cardiovascular disorders also increases. This is because at old age the immune system of the patient is compromised. Also, the modernization in the healthcare industry will fuel this market growth for the forecasted period.
Various new biological drugs are introduced each year due to increasing R&D activities in molecular biotechnology for cholesterol and cardiovascular disorders. These news drugs assist is reducing side effects of treatments and create more acceptance amongst patients. The approval of new treatment options will increase the life expectancy of patients living with high cholesterol and clogged arteries. Furthermore, increasing collaborations between drug researchers and patients will bolster this market’s growth.
Due to the high costs of cardiovascular monitoring devices, the accessibility to patients in developing countries is greatly reduced. These devices are currently out of reach for patients from lower socio-economic backgrounds. Furthermore, cardiovascular monitoring is a complicated operation that requires very qualified and skilled medical professionals since it is an intrusive procedure that can require surgery at times. Therefore, the lack of trained medical professionals restrains market growth in this market.
Many drugs previously introduced for hyperlipidemia have shown multiple adverse side effects and therefore have been not approved by the regulators. Such setbacks for the drug manufacturers will further challenge the growth of the hyperlipidemia market.
The major players operating in the global hyperlipidemia drugs market are Hoffmann-La Roche Ltd, Mylan N.V., Teva Pharmaceutical Industries Ltd, Sanofi, Pfizer Inc, GlaxoSmithKline plc, Novartis AG, AstraZeneca, Johnson & Johnson Private Limited, Sun Pharmaceutical Industries Ltd, Bristol-Myers Squibb Company, Eli Lilly and Company, Regeneron Pharmaceuticals Inc, Amgen Inc, DAIICHI SANKYO COMPANY LIMITED, Alnylam Pharmaceuticals Inc, Reddy's Laboratories Ltd, Esperion Therapeutics Inc, Formac Pharmaceuticals N.V. and others.
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The global hyperlipidemia drugs market size was estimated to be US$ 20.7 billion in 2021.
Global hyperlipidemia drugs market market is expected to achieve CAGR of 2.7% from 2023 to 2032.
Hospitals, specialty clinics and homecare are the end use segments of hyperlipidemia drugs market.
Growing number of geriatric populations and increasing investment for healthcare infrastructure are driving the growth of hyperlipidemia drugs market.
Hoffmann-La Roche Ltd. Mylan N.V. Teva Pharmaceutical Industries Ltd Sanofi Pfizer Inc. are few prominent players of the hyperlipidemia drugs market.
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