Anticholesteremic Agents Market
Number of pages: 100 | Report Format: PDF | Published date: May 02, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 12.52 billion |
|
Revenue Forecast in 2031 |
US$ 17.06 billion |
|
CAGR |
3.5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Drug Class, Distribution Channel, and Region |
|
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 anticholesteremic agents market was valued at US$ 12.52 billion in 2022 and is expected to register a revenue CAGR of 3.5% to reach US$ 17.06 billion by 2031.
Anticholesteremic Agents Market Fundamentals
Anticholesteremic agents, also known as cholesterol-lowering agents, are drugs or substances used to lower cholesterol levels in the blood. These agents act by various mechanisms, such as inhibiting cholesterol synthesis, preventing cholesterol absorption, increasing cholesterol excretion, or modifying the metabolism of lipids. The primary purpose of anticholesteremic agents is to reduce the risk of cardiovascular diseases associated with high cholesterol levels. Anticholesteremic agents can include prescription drugs such as statins, fibrates, bile acid sequestrants, and PCSK9 inhibitors.
The industry is comprehensively analyzed in the anticholesteremic agents industry analysis report, along with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the anticholesteremic agents market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the anticholesteremic agents market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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Anticholesteremic Agents Market Dynamics
High cholesterol levels are a major risk factor for cardiovascular diseases, the leading cause of mortality worldwide. The increasing prevalence of these diseases is driving the demand for anticholesteremic agents. According to the WHO, cardiovascular diseases cause an estimated 17.9 million deaths annually. A sedentary lifestyle, unhealthy dietary habits, and obesity increase cholesterol levels. Moreover, with the growing aging population, the incidence of age-related conditions such as high cholesterol and cardiovascular diseases is increasing, which is expected to boost the anticholesteremic agents market growth. Advancements in drug development and delivery technologies are facilitating the development of more effective and efficient anticholesteremic agents. However, the high capital requirements for R&D and many businesses' patents expiring are anticipated to be significant barriers to the growth of the anticholesteremic agents market.
Anticholesteremic Agents Market Ecosystem
Anticholesteremic agents Market, by Drug Class
Anticholesteremic agents Market, by Distribution Channel
Anticholesteremic Agents Market by Segments
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Statins are highly effective in lowering cholesterol levels and reducing the risk of cardiovascular disease, making them the first-line treatment for high cholesterol. They have been extensively studied and have a well-established safety profile. Statins have been on the market for several decades and are widely prescribed, which has resulted in a large patient population and a well-established market. Several statins have gone off-patent, which has led to the entry of generic versions of these drugs into the market. This has resulted in increased competition and lower prices, making statins more accessible to patients. Additionally, several statins, such as Lipitor and Crestor, have strong brand recognition and are widely known by healthcare providers and patients.
The market segmentation sections provide the anticholesteremic agents market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of an industry into subgroups depending on characteristics such as drug class and distribution channel. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential anticholesteremic agents market demand opportunities.
Anticholesteremic Agents Market by Region
Cardiovascular disease is a leading cause of mortality in North America, and high cholesterol levels are a major risk factor. The high prevalence of these diseases drives the demand for anticholesteremic agents in the region. With an aging population, the incidence of age-related conditions such as high cholesterol and cardiovascular disease is increasing, which is expected to boost the demand for anticholesteremic agents in North America. North America is a hub for drug development and innovation, and advancements in drug development & delivery technologies are facilitating the development of more effective and efficient anticholesteremic agents in the region. Governments in North America are implementing initiatives to improve public health and reduce the burden of cardiovascular disease, which is driving the demand for anticholesteremic agents. North America has a high healthcare spending per capita, which is enabling the development and adoption of advanced therapies and technologies, including anticholesteremic agents. Increasing public awareness about the benefits of maintaining healthy cholesterol levels and the availability of various treatment options are also contributing to the growth of the anticholesteremic agents market in North America.
Based on the regions, the global anticholesteremic agents market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of anticholesteremic agents industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level anticholesteremic agents market overview.
Key Components of the Report
Anticholesteremic Agents Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Anticholesteremic Agents Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Anticholesteremic agents, also known as cholesterol-lowering agents, are drugs or substances used to lower cholesterol levels in the blood. These agents act by various mechanisms, such as inhibiting cholesterol synthesis, preventing cholesterol absorption, increasing cholesterol excretion, or modifying the metabolism of lipids.
The anticholesteremic agents market was valued at US$ 12.52 billion in 2022
North America has the largest market share in terms of revenue during the forecast period from 2023 to 2031.
The anticholesteremic agents market is expected to register a revenue CAGR of 3.5% during the forecast period from 2023 to 2031.
The estimated size of the global anticholesteremic agents market in 2031 is US$ 17.06 billion.
The side effect related to the anticholesteremic agents and stringent regulatory requirements are some of the restricting factors of the market.
The rising prevalence of cardiovascular diseases and the rising geriatric population are the major driving factors in the market.
The prominent players operating in the global anticholesteremic agents market are Regeneron Pharmaceuticals Inc, Sanofi S.A., Merck & Co., Inc., Amgen Inc., and Novartis AG.
The Statins segment dominated the anticholesteremic agents market.
*Insights on financial performance are subject to the availability of information in the public domain