Cholesterol Lowering Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: February 16, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 30 billion |
|
Revenue Forecast in 2030 |
US$ 64.62 billion |
|
CAGR |
8.9% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Drug Class, Indication, Distribution Channel, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global cholesterol lowering drugs market was valued at US$ 30 billion in 2021 and is expected to register a revenue CAGR of 8.9% to reach US$ 64.62 billion by 2030.
Cholesterol Lowering Drugs Market Fundamentals
The blood contains a molecule called cholesterol that is similar to fat and helps to produce hormones, vitamin D, and other compounds that facilitate food digestion. The liver and intestines, as well as foods, such as eggs, fish, and meat, all help the body produce cholesterol. High-density lipoprotein, or good cholesterol, helps the body absorb cholesterol and transport it back to the liver. Low-density lipoprotein (LDL), or bad cholesterol, makes up the bulk of the body’s cholesterol. In addition, a rise in high cholesterol raises the risk of heart disease by storing fatty deposits in blood vessels. About 240 mg/dl is considered a high cholesterol level even though the body does require a certain amount of cholesterol. A total cholesterol level of 200 mg/dl or less is considered to be normal, and 200-240 mg/dl is borderline high. This elevated blood cholesterol level is referred to as hypercholesterolemia. Poor diet, obesity, genetic predispositions, or other medical disorders, including type 2 diabetes and hypothyroidism, can all contribute to high cholesterol.
There are numerous medications that can help in lowering the blood cholesterol level. Statins are one of the more well-known types of cholesterol-lowering drugs. Since they are effective, they are the ones that most people receive from suppliers. Statins lessen the production of cholesterol by blocking the HMG CoA reductase enzyme, which the liver uses to make cholesterol. Bile acid sequestrants assist in the elimination of cholesterol from the bloodstream by removing bile acids. The body needs bile acids, which are produced by breaking down LDL cholesterol. Proprotein convertase subtilisin/kexin type 9, or PCSK9, inhibitors are medications that reduce LDL receptors that raise cholesterol. This results in a decrease in blood levels of LDL cholesterol. Patients with familial hypercholesterolemia (FH), a hereditary condition that causes abnormally high levels of LDL cholesterol, as well as those with clinical ASCVD who require reduced LDL cholesterol levels, can both benefit from these drugs. Myositis, an inflammation of the muscles, is one of a few unusual, however, potentially harmful side effects of medications such as statins. Another drawback of taking cholesterol-lowering drugs includes side effects, such as headaches, drowsiness, joint pain, and diarrhea.
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Cholesterol Lowering Drugs Market Dynamics
The aging population, rise in the rates of high cholesterol, and increase in demand for medications that can help in lowering, management, and treatment of cholesterol are expected to drive revenue growth in the global market. Furthermore, sedentary lifestyles, the consumption of trans and saturated fats, and smoking are among the major factors expected to drive the market revenue growth during the forecast period. According to the WHO, 39% of individuals globally have high cholesterol, with 37% of men and 40% of women having this condition. Additionally, the market is anticipated to grow soon as a result of manufacturers’ attempts to build their product pipeline and increase their market share. For instance, the FDA has approved the once- or twice-monthly self-injectable cholesterol medications alirocumab and evolocumab. This class of medications, known as PCSK9 inhibitors, is projected to offer potential opportunities for the market to grow during the projection period.
However, over the projected time, the market is likely to experience challenges, such as stringent regulations, delays in FDA clearance, and medication recalls.
Cholesterol Lowering Drugs Market Ecosystem
The global cholesterol lowering drugs market has been analyzed from four perspectives: drug class, indication, distribution channel, and region.
Cholesterol Lowering Drugs Market by Drug Class
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Based on drug class, the global cholesterol lowering drugs market has been segmented into statins, PCSK9 inhibitors, bile acid sequestrants, cholesterol absorption inhibitors, and others.
The statins segment accounted for the major revenue share of the market in 2021. The most frequently prescribed medication for decreasing LDL cholesterol levels is a class of pharmaceuticals known as statins. These medications are regarded as the best lipid-reducing options currently in the market, both in terms of lowering LDL-C levels and preventing CV events. They are the most beneficial medications for preventing coronary heart disease, heart attacks, strokes, and mortality. Like statins, PCSK9 inhibitors are efficient at lowering cholesterol. These drugs provide an alternative for patients who cannot take statins. PCSK9 is a gene that figures out how many LDL receptors are present in the body. The amount of LDL cholesterol that enters our bloodstream is thus controlled by these receptors. The number of LDL receptors can be decreased by changes to this gene. PCSK9 medications function by inhibiting the PCSK9 enzyme that is encoded by the gene.
Cholesterol Lowering Drugs Market by Indication
Based on indication, the global cholesterol lowering drugs market has been segmented into hypercholesterolemia, hyperlipidemia, cardiovascular disease, and others.
Heart disease, which can result in death from a heart attack, is the primary risk of excessive cholesterol. The artery walls may thicken if the cholesterol level is too high. This accumulation, known as plaque, leads to atherosclerosis, or the hardening of the arteries, over time. Blood flow to a portion of the heart muscle can be slowed down by localized constriction of the arteries that supply the heart. Thus, the cardiovascular disease segment dominates the global cholesterol lowering drugs market.
Cholesterol Lowering Drugs Market by Distribution Channel
Based on distribution channel, the global cholesterol lowering drugs market has been segmented into hospital pharmacy, online pharmacy, and retail pharmacy.
The hospital pharmacy segment accounted for the major revenue share of the market in 2021. This is due to the availability of prescribed drugs and major patient footfall in the hospitals. Since statins are available on prescription only, patients prefer purchasing the drugs from the nearby available source, i.e., hospital pharmacy.
Cholesterol Lowering Drugs Market by Region
Based on region, the global cholesterol lowering drugs market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Rising prevalence of high cholesterol in major European nations, including Germany, France, Italy, Spain, and the United Kingdom, improving per capita income expenditures, and advancing healthcare infrastructure are expected to help the market in Europe to account for the largest revenue share.
North America dominates the global market due to changes in the lifestyle of regional people, significant investment in the healthcare sector, and increase in heart illnesses in the region. Moreover, Asia Pacific is predicted to enjoy enormous market expansion due to rising healthcare awareness, expanding government initiatives in the healthcare field, and an increase in research activities.
Cholesterol Lowering Drugs Market Competitive Landscape
The prominent players operating in the global cholesterol lowering drugs market are:
Cholesterol Lowering Drugs Market Strategic Developments
The global cholesterol lowering drugs market is expected to register growth at a revenue CAGR of 8.9% during the forecast period.
Pfizer Inc., Sun Pharmaceutical Industries Ltd., Merck & Co., AbbVie Inc., Novartis AG, and AstraZeneca Plc are among the key players in the global cholesterol lowering drugs market.
Rise in the prevalence of cardiovascular diseases is fueling revenue growth in the global market.
Asia Pacific is expected to register the highest revenue growth global cholesterol lowering drugs market during the forecast period.
The global cholesterol lowering drugs market was valued at US$ 30 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain