Fixed-dose Combination Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: March 22, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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CAGR |
6.75% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Disease Indication, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global fixed-dose combination drugs market is expected to register a revenue CAGR of 6.75% by 2031.
Fixed-dose Combination Drugs Market Fundamentals
Fixed-dose combination drugs, or FDCs, are described as the combination of two or more active components in a single mode of pharmacological administration. They have been proven to significantly reduce the risk of medication non-adherence, which is especially essential in chronic disease patients. FDCs commonly treat various diseases, including hypertension, diabetes, tuberculosis, and HIV/AIDS.
By combining multiple active ingredients in a single tablet or capsule, FDCs can reduce the number of pills patients need daily, making it easier to adhere to therapy and improving treatment outcomes. In addition to improving patient adherence, FDCs can be more cost-effective than separate drugs. Moreover, combining multiple active pharmaceutical ingredients in a single dosage form can reduce manufacturing, distribution, and storage costs, leading to cost savings and healthcare systems.
Fixed-dose Combination Drugs Market Dynamics
The global fixed-dose combination drugs market is primarily driven by its increased application in treating infectious and chronic diseases. Fixed-dose combinations are commonly used to treat cardiovascular diseases (hypertension, hypercholesterolemia), diabetes, infectious diseases (Helicobacter pylori, AIDS-HIV infections, and tuberculosis), psychiatric disorders (depression and Alzheimer’s), and respiratory diseases (asthma and COPD), including allergies, as well as in the fields of ophthalmology and dermatology. The demand for FDCs in treating chronic diseases is increasing as it offers better efficacy, extended product life-cycle management, cost savings, and reduced side effects. For instance, LAMA/LABA FDC inhalers have also been used in COPD patients. According to the AJMC journals, LAMA/LABA inhalers reduce the incidence of pneumonia by 33% to 67%. As a result of the reduction in long-term side effects, such as exacerbations, and the uncertainty of how much they might cost a COPD patient over time, LAMA/LABA FDC is a more cost-effective alternative.
The market is supported by the development of new compounds for treating chronic diseases. For instance, RAS blockers are an essential component of FDCs for patients with hypertension. Generally, thiazide diuretics or calcium channel blockers are used as first-line therapy, particularly in Sub-Saharan Africa, with RAS blockers - angiotensin-converting enzyme inhibitors or angiotensin receptor blockers perhaps put in as a single FDC.
FDCs have been shown to improve treatment outcomes and reduce healthcare costs associated with non-adherence. By reducing the number of pills a patient must take, FDCs can make it easier for patients to remember to take their medication as prescribed. This can lead to better health outcomes and fewer complications from missed or incorrect doses.
Developing an FDC comprised of authorized novel chemical entities or their generic counterparts can result in significant cost savings compared to the cost of generating a new API. If appropriate medication safety and tolerability data, as well as supporting effectiveness data, are already available, the FDA permits a shortened clinical development phase, which can accelerate the process to approval. Businesses can save precious time and resources by utilizing the FDA’s approval procedure.
However, one of the major restraining factors for the fixed-dose combinations drugs market is stringent regulatory restrictions. Moreover, the expensive cost of these treatments may limit market expansion. Furthermore, due to inadequate healthcare standards, access to fixed-dose combination drugs is extremely limited in low-income countries. This can impede the revenue growth of the global fixed-dose combination drugs market.
Fixed-dose Combination Drugs Market Ecosystem
The global fixed-dose combination drugs market is analyzed from four perspectives: product type, disease indication, distribution channel, and region.
Fixed-dose Combination Drugs Market by Product Type
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Based on product type, the global fixed-dose combination drugs market is segmented into rational and irrational fixed-dose combination drugs.
The rational fixed-dose combination drugs segment has dominated the global fixed-dose combination drugs market. This is attributed to improved patient compliance and simplified disease management for chronic diseases, such as HIV, diabetes, hypertension, and asthma. The rational fixed-dose combination also provides better efficacy and improved pharmacokinetic and drug resistance. Further, these drugs can lower healthcare costs by reducing the need for multiple prescriptions and improving overall treatment outcomes.
Fixed-dose Combination Drugs Market by Disease Indications
Based on disease indication, the global fixed-dose combination drugs market is segmented into respiratory diseases, renal failure, cardiovascular diseases, endocrine diseases, and other chronic diseases.
The cardiovascular diseases segment accounts for the prominent revenue share of the global fixed-dose combination drugs market. FDC treatment successfully enhances adherence and coverage of critical preventive drugs in individuals at high risk of CVD events. It might be key to achieving WHO targets if included in a worldwide CVD prevention and control plan. Moreover, fixed-dose combinations have resulted in better blood pressure control and reduced risk of complications in patients with hypertension. Most of the FDCs for CVD contain two or more blood-pressure-lowering drugs plus a statin, with or without aspirin. These formulations have been shown to enhance adherence, lower blood pressure, and cholesterol, and are cost-effective.
The endocrine disease segment is expected to grow in the forecast period. Fixed-dose combination drugs for endocrinology are often used to treat conditions such as diabetes, thyroid disorders, and hormonal imbalances. Fixed-dose combination drugs in endocrinology have been shown to improve medication adherence, simplify dosing regimens, and reduce the risk of adverse drug interactions. Additionally, they may lead to better clinical outcomes and improved quality of life for patients with endocrine disorders.
Fixed-dose Combination Drugs Market by Distribution Channel
Based on the distribution channel, the global fixed-dose combination drugs market is segmented into hospital pharmacies, drug stores, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for most of the market revenue share in 2022. Hospital pharmacies often stock a wide range of medications, including rare or specialized drugs that may not be readily available at retail pharmacies. Moreover, for patients receiving treatment at the hospital, obtaining prescriptions from the hospital pharmacies ensures they receive them promptly and conveniently. Some hospital pharmacies may offer cost-saving programs, such as bulk purchasing or generic substitutions, to make medications more affordable.
The retail pharmacies segment is expected to show lucrative revenue growth in the forecast period. In addition to providing easy access to medication, retail pharmacies often offer various services, such as prescription refill reminders, medication counseling, and immunizations. Furthermore, retail pharmacies may also accept insurance plans which can significantly reduce the cost of medication for patients.
Fixed-dose Combination Drugs Market by Region
Based on the region, the global fixed dose combination drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the fixed-dose combination drugs market with the largest revenue share. This is attributed to the growing presence of strong healthcare systems. The presence of many top players in the region and the increase in awareness through seminars are other key factors supporting the market revenue growth in North America. Furthermore, advanced research and development on fixed-dose combinations in North America is expected to increase revenue growth in the forecast years.
The Europe fixed-dose combination drugs market is characterized by increased awareness and rising healthcare standards. Moreover, research and development by pharmaceutical companies are increasing the demand for combination drugs in Europe. The rise in number of approvals for fixed-dose combination drugs is also supporting the revenue share.
Asia Pacific is predicted to be the fastest-growing geographic region in the fixed-dose combination drugs market over the forecast period. This revenue growth can be majorly attributed to rising healthcare standards and the increased launch of new fixed-dose combination drugs in Asia. Moreover, the demand for new treatments is also growing as trends in the Asia Pacific’s fixed-dose combination drugs market. For instance, In June 2022, Glenmark Pharmaceuticals launched fixed-dose combination drugs for asthma in India.
Fixed-dose Combination Drugs Market Competitive Landscape
The prominent companies with the largest revenue share in the global fixed-dose combination drugs market are:
Fixed-dose Combination Drugs Market Strategic Developments
The global fixed-dose combination drugs market is expected to grow at a revenue CAGR of 6.75% during the forecast period.
Boehringer & Ingelheim AG & Co., Bristol-Myers Squibb Company, Gilead Sciences, Inc., and Takeda Pharmaceutical Company are among the key players in the global fixed-dose combination drugs market.
The cardiovascular disease segment accounts for the largest revenue share in the global fixed-dose combination drugs market.
Asia Pacific is expected to observe the highest revenue growth in the global fixed-dose combination drugs market during the forecast period.
The major restraining factors for the fixed-dose combinations drugs market are stringent regulatory restrictions and the high cost of these treatments.
*Insights on financial performance are subject to the availability of information in the public domain